Centerspace (NYSE:CSR) Short Interest Down 6.9% in March

Centerspace (NYSE:CSR) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 195,800 shares, a decline of 6.9% from the March 15th total of 210,300 shares. Based on an average daily trading volume, of 73,200 shares, the short-interest ratio is currently 2.7 days.

Insiders Place Their Bets

In other news, Director John A. Schissel bought 500 shares of Centerspace stock in a transaction dated Monday, March 11th. The stock was acquired at an average cost of $56.40 per share, with a total value of $28,200.00. Following the acquisition, the director now owns 9,522 shares of the company’s stock, valued at $537,040.80. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.86% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP boosted its stake in Centerspace by 5.1% in the 1st quarter. First Trust Advisors LP now owns 3,030 shares of the company’s stock worth $297,000 after purchasing an additional 146 shares during the period. Vident Investment Advisory LLC boosted its stake in shares of Centerspace by 0.9% during the 1st quarter. Vident Investment Advisory LLC now owns 16,947 shares of the company’s stock valued at $1,663,000 after buying an additional 146 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Centerspace by 1.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 18,761 shares of the company’s stock valued at $1,530,000 after buying an additional 182 shares during the period. Alps Advisors Inc. boosted its stake in shares of Centerspace by 3.2% during the 4th quarter. Alps Advisors Inc. now owns 6,886 shares of the company’s stock valued at $404,000 after buying an additional 212 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Centerspace by 0.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 28,846 shares of the company’s stock valued at $1,577,000 after buying an additional 224 shares during the period. Institutional investors and hedge funds own 79.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 target price on shares of Centerspace in a research report on Friday, March 22nd. Piper Sandler reissued a “neutral” rating and set a $63.00 price target on shares of Centerspace in a research note on Tuesday, March 26th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.57.

Centerspace Stock Performance

NYSE CSR traded up $0.46 during trading hours on Wednesday, reaching $62.04. The company’s stock had a trading volume of 114,330 shares, compared to its average volume of 90,512. The business has a 50-day simple moving average of $56.58 and a 200 day simple moving average of $55.51. Centerspace has a 52 week low of $46.74 and a 52 week high of $66.99. The stock has a market cap of $923.71 million, a PE ratio of 26.64, a PEG ratio of 1.86 and a beta of 0.93. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.74.

Centerspace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Thursday, March 28th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date was Wednesday, March 27th. This is a positive change from Centerspace’s previous quarterly dividend of $0.73. Centerspace’s dividend payout ratio (DPR) is currently 128.76%.

Centerspace Company Profile

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.