Centerspace (NYSE:CSR) Sees Large Volume Increase

Centerspace (NYSE:CSR) saw unusually-strong trading volume on Tuesday . Approximately 51,582 shares changed hands during mid-day trading, a decline of 49% from the previous session’s volume of 100,814 shares.The stock last traded at $73.25 and had previously closed at $74.12.

Wall Street Analysts Forecast Growth

CSR has been the topic of a number of analyst reports. BTIG Research raised their price target on Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Raymond James boosted their target price on Centerspace from $75.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler upped their price target on Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada raised their price objective on shares of Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Centerspace has a consensus rating of “Moderate Buy” and an average target price of $72.29.

Centerspace Stock Performance

The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.79. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -90.71, a PEG ratio of 2.20 and a beta of 0.90. The stock’s 50 day moving average is $71.76 and its two-hundred day moving average is $66.32.

Centerspace (NYSE:CSR) last released its quarterly earnings results on Monday, July 29th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($1.39). The company had revenue of $65.04 million for the quarter, compared to analysts’ expectations of $65.90 million. Centerspace had a negative return on equity of 0.67% and a negative net margin of 2.16%. During the same period in the prior year, the business earned $1.28 EPS. Analysts anticipate that Centerspace will post 4.83 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Monday, September 30th. Centerspace’s dividend payout ratio (DPR) is presently -375.00%.

Institutional Trading of Centerspace

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rothschild Investment LLC acquired a new stake in shares of Centerspace in the 2nd quarter valued at approximately $42,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Centerspace during the 1st quarter worth $173,000. Victory Capital Management Inc. acquired a new position in shares of Centerspace during the 2nd quarter worth $209,000. Daiwa Securities Group Inc. increased its holdings in shares of Centerspace by 4.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 4,764 shares of the company’s stock valued at $272,000 after purchasing an additional 222 shares in the last quarter. Finally, BTC Capital Management Inc. acquired a new stake in shares of Centerspace in the first quarter valued at about $279,000. Hedge funds and other institutional investors own 79.00% of the company’s stock.

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.