Centerspace (NYSE:CSR – Get Free Report) saw a significant decline in short interest in December. As of December 31st, there was short interest totalling 269,200 shares, a decline of 12.8% from the December 15th total of 308,700 shares. Based on an average daily volume of 91,400 shares, the days-to-cover ratio is presently 2.9 days.
Institutional Trading of Centerspace
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC grew its stake in shares of Centerspace by 2.6% in the 4th quarter. SG Americas Securities LLC now owns 12,662 shares of the company’s stock worth $737,000 after buying an additional 318 shares during the last quarter. Ziegler Capital Management LLC grew its stake in shares of Centerspace by 6.1% in the 4th quarter. Ziegler Capital Management LLC now owns 9,242 shares of the company’s stock worth $538,000 after buying an additional 535 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Centerspace by 7.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 21,667 shares of the company’s stock worth $1,306,000 after buying an additional 1,581 shares during the last quarter. Comerica Bank purchased a new stake in shares of Centerspace in the 3rd quarter worth approximately $413,000. Finally, Creative Planning bought a new position in Centerspace in the 3rd quarter valued at approximately $261,000. Hedge funds and other institutional investors own 78.97% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have issued reports on CSR shares. BMO Capital Markets dropped their price target on Centerspace from $72.00 to $64.00 and set a “market perform” rating for the company in a research note on Monday, October 9th. Robert W. Baird dropped their price target on Centerspace from $69.00 to $65.00 in a research note on Tuesday, October 10th. Royal Bank of Canada raised Centerspace from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $58.00 to $63.00 in a research note on Tuesday. BTIG Research reaffirmed a “buy” rating and set a $69.00 price target on shares of Centerspace in a research note on Monday, September 25th. Finally, Compass Point raised Centerspace from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Monday, November 6th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $64.71.
Centerspace Stock Down 1.3 %
Shares of CSR stock traded down $0.71 during midday trading on Tuesday, reaching $55.27. 101,184 shares of the stock were exchanged, compared to its average volume of 67,302. Centerspace has a 1 year low of $46.74 and a 1 year high of $71.97. The company’s 50 day moving average is $55.31 and its two-hundred day moving average is $58.34. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.62. The firm has a market cap of $831.81 million, a PE ratio of 20.17, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99.
Centerspace Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were paid a $0.73 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.92 annualized dividend and a dividend yield of 5.28%. Centerspace’s payout ratio is currently 106.57%.
About Centerspace
Centerspace is an owner and operator of apartment communities committed to providing great homes by focusing on integrity and serving others. Founded in 1970, as of September 30, 2023, Centerspace owned interests in 71 apartment communities consisting of 12,785 apartment homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota.