Russell Investments Group Ltd. Purchases 2,930 Shares of Clipper Realty Inc. $CLPR

Russell Investments Group Ltd. boosted its position in Clipper Realty Inc. (NYSE:CLPR) by 35.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,194 shares of the company’s stock after acquiring an additional 2,930 shares during the period. Russell Investments Group Ltd. owned 0.07% of Clipper Realty worth $43,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nuveen LLC bought a new position in Clipper Realty in the first quarter worth approximately $98,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Clipper Realty by 19.0% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 99,229 shares of the company’s stock worth $381,000 after purchasing an additional 15,825 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Clipper Realty by 21.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 38,207 shares of the company’s stock worth $147,000 after purchasing an additional 6,638 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Clipper Realty in the first quarter worth approximately $82,000. Finally, Brookwood Investment Group LLC purchased a new stake in shares of Clipper Realty in the first quarter worth approximately $207,000. Institutional investors own 37.57% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Clipper Realty from a “hold” rating to a “sell” rating in a research note on Monday, August 18th.

Clipper Realty Stock Up 4.1%

CLPR stock opened at $4.37 on Friday. The firm has a market cap of $70.64 million, a PE ratio of -4.25 and a beta of 1.10. The business has a 50 day moving average of $3.91 and a 200-day moving average of $3.96. Clipper Realty Inc. has a 12-month low of $3.39 and a 12-month high of $7.12.

Clipper Realty (NYSE:CLPR) last released its earnings results on Thursday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.07. The business had revenue of $39.04 million during the quarter, compared to the consensus estimate of $39.10 million. On average, research analysts expect that Clipper Realty Inc. will post 0.39 earnings per share for the current year.

Clipper Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Thursday, August 21st will be issued a $0.095 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.38 annualized dividend and a dividend yield of 8.7%. Clipper Realty’s dividend payout ratio is currently -36.89%.

Insider Activity

In other Clipper Realty news, CEO David Bistricer bought 8,174 shares of Clipper Realty stock in a transaction dated Thursday, August 21st. The stock was bought at an average cost of $4.01 per share, with a total value of $32,777.74. Following the completion of the acquisition, the chief executive officer directly owned 8,174 shares in the company, valued at approximately $32,777.74. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 53.01% of the stock is currently owned by corporate insiders.

About Clipper Realty

Clipper Realty Inc (NYSE: CLPR) is a self-administered and self-managed real estate company that acquires, owns, manages, operates, and repositions multifamily residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn.