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

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

Insider Transactions at Centerspace

In other news, Director John A. Schissel purchased 500 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was bought at an average price of $56.40 per share, for a total transaction of $28,200.00. Following the purchase, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is owned by corporate insiders.

Institutional Trading of Centerspace

A number of large investors have recently modified their holdings of CSR. Lazard Asset Management LLC bought a new stake in shares of Centerspace during the 4th quarter valued at about $27,000. Tower Research Capital LLC TRC raised its holdings in shares of Centerspace by 82.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 740 shares of the company’s stock valued at $45,000 after buying an additional 335 shares in the last quarter. Captrust Financial Advisors purchased a new position in shares of Centerspace during the 2nd quarter valued at about $46,000. ICA Group Wealth Management LLC purchased a new position in shares of Centerspace during the 4th quarter valued at about $55,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Centerspace during the 1st quarter valued at about $66,000. Institutional investors own 79.00% of the company’s stock.

Centerspace Stock Performance

Shares of CSR opened at $61.58 on Tuesday. The company has a market cap of $916.93 million, a PE 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 has a 50-day moving average price of $56.42 and a 200-day moving average price of $55.50. Centerspace has a 12-month low of $46.74 and a 12-month high of $66.99.

Centerspace Increases Dividend

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

Analyst Upgrades and Downgrades

CSR has been the subject of several analyst reports. Piper Sandler restated a “neutral” rating and issued a $63.00 target price on shares of Centerspace in a research note on Tuesday, March 26th. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 target price on shares of Centerspace in a research note on Friday, March 22nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.57.

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.