Centerspace (NYSE:CSR) Sees Strong Trading Volume – Here’s What Happened

Shares of Centerspace (NYSE:CSR) saw an uptick in trading volume on Wednesday . 134,987 shares traded hands during mid-day trading, a decline of 33% from the previous session’s volume of 202,540 shares.The stock last traded at $66.8750 and had previously closed at $65.50.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Centerspace in a report on Monday, December 15th. UBS Group lifted their price objective on shares of Centerspace from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, November 10th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Centerspace in a report on Wednesday, November 12th. Wall Street Zen raised Centerspace from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Centerspace in a research note on Wednesday, November 12th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $69.38.

Centerspace Stock Up 0.1%

The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.96. The stock has a market cap of $1.12 billion, a P/E ratio of 37.34 and a beta of 0.78. The firm has a 50-day simple moving average of $63.38 and a two-hundred day simple moving average of $60.42.

Centerspace (NYSE:CSR) last announced its earnings results on Monday, November 3rd. The company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.03). Centerspace had a net margin of 11.14% and a return on equity of 3.52%. Centerspace has set its FY 2025 guidance at 4.880-4.960 EPS. Equities research analysts expect that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Tuesday, December 30th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Tuesday, December 30th. This represents a $3.08 annualized dividend and a dividend yield of 4.6%. Centerspace’s dividend payout ratio (DPR) is currently 172.07%.

Institutional Investors Weigh In On Centerspace

Large investors have recently added to or reduced their stakes in the stock. Hilltop National Bank acquired a new position in Centerspace in the second quarter valued at about $29,000. Hantz Financial Services Inc. increased its holdings in Centerspace by 998.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 659 shares of the company’s stock valued at $39,000 after buying an additional 599 shares during the period. Wolff Wiese Magana LLC raised its position in shares of Centerspace by 897.3% in the 2nd quarter. Wolff Wiese Magana LLC now owns 748 shares of the company’s stock valued at $45,000 after buying an additional 673 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Centerspace by 488.4% during the 3rd quarter. Versant Capital Management Inc now owns 1,630 shares of the company’s stock worth $96,000 after acquiring an additional 1,353 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Centerspace by 103.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,176 shares of the company’s stock worth $131,000 after acquiring an additional 1,106 shares during the period. Institutional investors and hedge funds own 79.00% of the company’s stock.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.