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

Centerspace (NYSE:CSR) was the recipient of a significant 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 trading volume of 73,200 shares, the short-interest ratio is currently 2.7 days.

Analyst Ratings Changes

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

Insider Buying and Selling at Centerspace

In other Centerspace news, Director John A. Schissel bought 500 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were purchased at an average price of $56.40 per share, for a total transaction of $28,200.00. Following the completion of the transaction, the director now directly owns 9,522 shares in the company, valued at approximately $537,040.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Centerspace

Several institutional investors have recently added to or reduced their stakes in the stock. BTC Capital Management Inc. bought a new stake in Centerspace in the first quarter valued at approximately $279,000. Pensionfund Sabic boosted its holdings in Centerspace by 26.8% in the first quarter. Pensionfund Sabic now owns 8,519 shares of the company’s stock valued at $487,000 after acquiring an additional 1,800 shares during the last quarter. Pensionfund DSM Netherlands boosted its holdings in Centerspace by 19.6% in the first quarter. Pensionfund DSM Netherlands now owns 18,280 shares of the company’s stock valued at $1,045,000 after acquiring an additional 3,000 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Centerspace in the fourth quarter valued at approximately $607,000. Finally, ICA Group Wealth Management LLC bought a new stake in Centerspace in the fourth quarter valued at approximately $55,000. 79.00% of the stock is currently owned by institutional investors.

Centerspace Stock Performance

NYSE:CSR opened at $61.58 on Tuesday. The stock has a market cap of $916.93 million, a P/E ratio of 26.43, a price-to-earnings-growth ratio of 1.83 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. The stock’s 50-day moving average is $56.42 and its 200-day moving average is $55.50. Centerspace has a 1-year low of $46.74 and a 1-year high of $66.99.

Centerspace Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.75 per share. This is a boost from Centerspace’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 4.87%. The ex-dividend date was Wednesday, March 27th. Centerspace’s payout ratio is 128.76%.

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.