Centerspace (NYSE:CSR) Short Interest Down 6.0% in December

Centerspace (NYSE:CSR – Get Rating) saw a large drop in short interest during the month of December. As of December 30th, there was short interest totalling 335,700 shares, a drop of 6.0% from the December 15th total of 357,300 shares. Based on an average daily volume of 102,700 shares, the short-interest ratio is currently 3.3 days.

Centerspace Stock Down 0.5 %

Shares of NYSE CSR opened at $64.20 on Tuesday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.74. Centerspace has a 52 week low of $57.03 and a 52 week high of $108.64. The firm has a 50-day moving average price of $62.64 and a 200 day moving average price of $70.48. The stock has a market capitalization of $967.43 million, a price-to-earnings ratio of -37.11, a price-to-earnings-growth ratio of 2.01 and a beta of 0.91.

Centerspace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 12th. Investors of record on Monday, January 2nd were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend was Thursday, December 29th. Centerspace’s dividend payout ratio (DPR) is -168.79%.

Institutional Trading of Centerspace

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Centerspace by 2.2% in the first quarter. BlackRock Inc. now owns 2,736,058 shares of the company’s stock valued at $268,463,000 after purchasing an additional 58,404 shares during the period. Vanguard Group Inc. raised its position in Centerspace by 1.7% during the third quarter. Vanguard Group Inc. now owns 2,478,106 shares of the company’s stock worth $166,826,000 after acquiring an additional 42,104 shares during the last quarter. Wellington Management Group LLP raised its position in Centerspace by 27.8% during the first quarter. Wellington Management Group LLP now owns 1,180,660 shares of the company’s stock worth $115,846,000 after acquiring an additional 257,030 shares during the last quarter. State Street Corp raised its position in Centerspace by 1.5% during the third quarter. State Street Corp now owns 938,301 shares of the company’s stock worth $63,821,000 after acquiring an additional 13,459 shares during the last quarter. Finally, Heitman Real Estate Securities LLC raised its position in Centerspace by 49.9% during the third quarter. Heitman Real Estate Securities LLC now owns 419,789 shares of the company’s stock worth $28,260,000 after acquiring an additional 139,738 shares during the last quarter. Institutional investors and hedge funds own 84.26% of the company’s stock.

Wall Street Analyst Weigh In

CSR has been the topic of several research reports. Colliers International Group lowered their price objective on shares of Centerspace to $80.00 in a research report on Friday, November 4th. Royal Bank of Canada lowered their target price on shares of Centerspace from $77.00 to $69.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 2nd. Compass Point downgraded shares of Centerspace from a “buy” rating to a “neutral” rating and lowered their target price for the company from $100.00 to $75.00 in a report on Wednesday, November 2nd. Janney Montgomery Scott downgraded shares of Centerspace from a “buy” rating to a “neutral” rating in a report on Wednesday, December 14th. Finally, Raymond James downgraded shares of Centerspace from a “market perform” rating to an “underperform” rating in a report on Wednesday, November 23rd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $73.50.

About Centerspace

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Centerspace engages in the ownership, management, acquisition, redevelopment, and development of apartment communities. It focuses on making operational enhancements to improve residents experience, redeveloping existing apartment communities to meet market demands and acquiring new apartment communities in the Minneapolis/St.