Centerspace (NYSE:CSR) Short Interest Up 40.3% in October

Centerspace (NYSE:CSR) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totaling 465,700 shares, an increase of 40.3% from the September 30th total of 332,000 shares. Currently, 2.8% of the company’s shares are short sold. Based on an average daily volume of 115,800 shares, the days-to-cover ratio is currently 4.0 days. Based on an average daily volume of 115,800 shares, the days-to-cover ratio is currently 4.0 days. Currently, 2.8% of the company’s shares are short sold.

Insiders Place Their Bets

In other Centerspace news, CFO Bhairav Patel bought 500 shares of the stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $54.00 per share, for a total transaction of $27,000.00. Following the completion of the acquisition, the chief financial officer owned 3,733 shares in the company, valued at $201,582. This trade represents a 15.47% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Anne Olson bought 750 shares of the stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $55.10 per share, with a total value of $41,325.00. Following the completion of the acquisition, the chief executive officer owned 19,496 shares of the company’s stock, valued at $1,074,229.60. This represents a 4.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 1,750 shares of company stock worth $95,325. 0.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Hilltop National Bank bought a new position in Centerspace in the 2nd quarter valued at $29,000. Wolff Wiese Magana LLC grew its position in Centerspace by 897.3% during the second quarter. Wolff Wiese Magana LLC now owns 748 shares of the company’s stock valued at $45,000 after buying an additional 673 shares during the period. New Age Alpha Advisors LLC bought a new position in Centerspace during the first quarter valued at about $86,000. Versant Capital Management Inc grew its position in Centerspace by 488.4% during the third quarter. Versant Capital Management Inc now owns 1,630 shares of the company’s stock valued at $96,000 after buying an additional 1,353 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Centerspace by 103.4% during the second quarter. PNC Financial Services Group Inc. now owns 2,176 shares of the company’s stock valued at $131,000 after buying an additional 1,106 shares during the period. Institutional investors own 79.00% of the company’s stock.

Centerspace Trading Up 2.7%

Shares of Centerspace stock opened at $60.61 on Wednesday. The stock has a fifty day simple moving average of $59.02 and a 200 day simple moving average of $59.62. Centerspace has a 12-month low of $52.76 and a 12-month high of $75.92. The company has a market capitalization of $1.02 billion, a P/E ratio of -33.67 and a beta of 0.73. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.97.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Monday, November 3rd. The company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.03). Centerspace had a negative return on equity of 2.81% and a negative net margin of 9.13%.The company had revenue of $71.40 million for the quarter, compared to the consensus estimate of $69.07 million. Centerspace has set its FY 2025 guidance at 4.880-4.960 EPS. On average, sell-side analysts anticipate that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Monday, September 29th were issued a dividend of $0.77 per share. The ex-dividend date was Monday, September 29th. This represents a $3.08 annualized dividend and a yield of 5.1%. Centerspace’s dividend payout ratio is -171.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CSR shares. UBS Group decreased their price objective on Centerspace from $67.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, July 15th. Weiss Ratings restated a “sell (d+)” rating on shares of Centerspace in a report on Wednesday, October 8th. Wells Fargo & Company lowered their price objective on shares of Centerspace from $68.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 27th. Wall Street Zen downgraded shares of Centerspace from a “hold” rating to a “sell” rating in a report on Sunday, September 7th. Finally, Cantor Fitzgerald started coverage on shares of Centerspace in a report on Wednesday, October 1st. They set a “neutral” rating and a $62.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $68.00.

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.