Centerspace (NYSE:CSR) Sees Unusually-High Trading Volume – Time to Buy?

Centerspace (NYSE:CSR) shares saw unusually-high trading volume on Tuesday . Approximately 216,684 shares were traded during trading, an increase of 71% from the previous session’s volume of 126,739 shares.The stock last traded at $58.6850 and had previously closed at $58.02.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CSR shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $65.00 price objective on shares of Centerspace in a report on Monday, January 5th. Wall Street Zen downgraded shares of Centerspace from a “hold” rating to a “strong sell” rating in a report on Saturday, February 21st. UBS Group upped their price target on shares of Centerspace from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Piper Sandler increased their price target on shares of Centerspace from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Finally, Royal Bank Of Canada lifted their price objective on shares of Centerspace from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, February 19th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Centerspace has a consensus rating of “Hold” and a consensus price target of $69.57.

Centerspace Stock Up 0.6%

The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.86. The firm has a 50 day simple moving average of $63.06 and a 200-day simple moving average of $62.66. The stock has a market cap of $979.27 million, a P/E ratio of 58.36 and a beta of 0.79.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Tuesday, February 17th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($2.31). Centerspace had a net margin of 6.25% and a return on equity of 2.00%. The business had revenue of $66.62 million during the quarter, compared to analyst estimates of $69.77 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. On average, equities research analysts forecast that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Monday, March 30th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a $3.08 annualized dividend and a yield of 5.3%. Centerspace’s dividend payout ratio (DPR) is currently 308.00%.

Hedge Funds Weigh In On Centerspace

Several institutional investors and hedge funds have recently modified their holdings of the stock. Covestor Ltd raised its position in shares of Centerspace by 57,100.0% in the fourth quarter. Covestor Ltd now owns 572 shares of the company’s stock valued at $38,000 after purchasing an additional 571 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of Centerspace by 998.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 659 shares of the company’s stock worth $39,000 after buying an additional 599 shares during the period. Danske Bank A S bought a new stake in shares of Centerspace during the 4th quarter worth about $47,000. Kestra Advisory Services LLC acquired a new position in Centerspace in the 4th quarter valued at about $58,000. Finally, GAMMA Investing LLC grew its stake in Centerspace by 107.0% in the 4th quarter. GAMMA Investing LLC now owns 942 shares of the company’s stock valued at $63,000 after buying an additional 487 shares during the last quarter. 79.00% of the stock is currently owned by institutional investors and hedge funds.

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.