Centerspace (NYSE:CSR) Sees Large Volume Increase - Should You Buy?

Centerspace (NYSE:CSR - Get Free Report) saw strong trading volume on Wednesday . 82,872 shares were traded during mid-day 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 recently issued reports on the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $76.00 price objective on shares of Centerspace in a report on Wednesday, October 30th. Wedbush started coverage on Centerspace in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $72.00 price objective on the stock. 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 report on Wednesday, January 15th. Finally, Raymond James lowered Centerspace from an "outperform" rating to a "market perform" rating in a research note on Monday, October 21st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Centerspace has an average rating of "Hold" and a consensus price target of $74.86.

Centerspace Trading Up 0.1 %

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 price of $63.72 and a 200 day moving average price of $69.24. The firm has a market cap of $1.03 billion, a PE ratio of -38.71 and a beta of 0.90.

Centerspace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend was Monday, December 30th. Centerspace's payout ratio is currently -186.34%.

Hedge Funds Weigh In On Centerspace

Several hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in Centerspace by 370.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company's stock worth $25,000 after buying an additional 300 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of Centerspace by 903.8% in the fourth quarter. Sterling Capital Management LLC now owns 522 shares of the company's stock valued at $35,000 after purchasing an additional 470 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Centerspace by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company's stock valued at $41,000 after purchasing an additional 150 shares during the period. Loomis Sayles & Co. L P grew its position in shares of Centerspace by 3,131.6% in the third quarter. Loomis Sayles & Co. L P now owns 614 shares of the company's stock valued at $43,000 after purchasing an additional 595 shares during the period. Finally, KBC Group NV grew its position in shares of Centerspace by 75.9% in the fourth quarter. KBC Group NV now owns 1,080 shares of the company's stock valued at $71,000 after purchasing an additional 466 shares during the period. 79.00% of the stock is owned by hedge funds and other institutional investors.

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.