Centerspace (NYSE:CSR) Sees Strong Trading Volume – Here’s What Happened

Shares of Centerspace (NYSE:CSR) saw unusually-strong trading volume on Wednesday . Approximately 82,872 shares changed hands during trading, a decline of 1% from the previous session’s volume of 83,837 shares.The stock last traded at $61.87 and had previously closed at $61.67.

Wall Street Analyst Weigh In

Several analysts have weighed in on CSR shares. Royal Bank of Canada reissued an “outperform” rating and issued a $76.00 price target on shares of Centerspace in a research note on Wednesday, October 30th. Wedbush initiated coverage on Centerspace in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 target price for the company. Raymond James cut Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Finally, Janney Montgomery Scott raised Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Centerspace has an average rating of “Hold” and a consensus price target of $74.86.

Centerspace Stock Performance

The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70. The business has a fifty day moving average of $64.22 and a 200-day moving average of $69.39. The company has a market cap of $1.03 billion, a PE ratio of -38.49 and a beta of 0.90.

Centerspace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.84%. Centerspace’s dividend payout ratio is presently -186.33%.

Institutional Trading of Centerspace

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Centerspace by 8.2% in the 4th quarter. Vanguard Group Inc. now owns 2,594,366 shares of the company’s stock worth $171,617,000 after purchasing an additional 195,629 shares in the last quarter. Wellington Management Group LLP raised its stake in Centerspace by 6.4% in the third quarter. Wellington Management Group LLP now owns 1,019,353 shares of the company’s stock worth $71,834,000 after buying an additional 61,394 shares in the last quarter. State Street Corp lifted its holdings in Centerspace by 0.5% in the third quarter. State Street Corp now owns 897,749 shares of the company’s stock worth $63,931,000 after buying an additional 4,263 shares during the period. Geode Capital Management LLC boosted its position in Centerspace by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 387,517 shares of the company’s stock valued at $27,314,000 after acquiring an additional 11,749 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Centerspace by 9.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock worth $19,415,000 after acquiring an additional 23,839 shares during the period. 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.