Clipper Realty (NYSE:CLPR) Cut to Hold at Zacks Research

Zacks Research cut shares of Clipper Realty (NYSE:CLPR) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

Separately, Wall Street Zen cut shares of Clipper Realty from a “hold” rating to a “sell” rating in a research report on Monday, August 18th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Clipper Realty has a consensus rating of “Hold”.

Clipper Realty Stock Up 1.4%

Shares of NYSE CLPR opened at $4.38 on Tuesday. The firm has a 50-day simple moving average of $3.97 and a 200-day simple moving average of $3.95. The stock has a market capitalization of $70.75 million, a price-to-earnings ratio of -4.25 and a beta of 1.10. Clipper Realty has a 52 week low of $3.39 and a 52 week high of $7.12.

Clipper Realty (NYSE:CLPR) last issued its earnings results on Thursday, August 7th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. The business had revenue of $39.04 million during the quarter, compared to analyst estimates of $39.10 million. As a group, equities research analysts expect that Clipper Realty will post 0.39 EPS for the current year.

Clipper Realty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Thursday, August 21st were paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 8.7%. The ex-dividend date of this dividend was Thursday, August 21st. Clipper Realty’s dividend payout ratio (DPR) is -36.89%.

Insiders Place Their Bets

In related news, CEO David Bistricer bought 8,174 shares of the stock in a transaction on Thursday, August 21st. The stock was bought at an average price of $4.01 per share, with a total value of $32,777.74. Following the completion of the purchase, the chief executive officer directly owned 8,174 shares in the company, valued at $32,777.74. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 53.01% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its stake in Clipper Realty by 12.3% during the first quarter. AQR Capital Management LLC now owns 22,698 shares of the company’s stock worth $87,000 after buying an additional 2,491 shares during the period. Russell Investments Group Ltd. boosted its stake in Clipper Realty by 35.5% during the first quarter. Russell Investments Group Ltd. now owns 11,194 shares of the company’s stock worth $43,000 after buying an additional 2,930 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Clipper Realty by 21.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 38,207 shares of the company’s stock worth $147,000 after buying an additional 6,638 shares during the period. Ritholtz Wealth Management boosted its stake in Clipper Realty by 21.6% during the second quarter. Ritholtz Wealth Management now owns 81,118 shares of the company’s stock worth $298,000 after buying an additional 14,387 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Clipper Realty by 19.0% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 99,229 shares of the company’s stock worth $381,000 after buying an additional 15,825 shares during the period. Hedge funds and other institutional investors own 37.57% of the company’s stock.

Clipper Realty Company Profile

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.