Connor Clark & Lunn Investment Management Ltd. Purchases 27,908 Shares of Clipper Realty Inc. $CLPR

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Clipper Realty Inc. (NYSE:CLPR) by 28.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,137 shares of the company’s stock after acquiring an additional 27,908 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.79% of Clipper Realty worth $467,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CLPR. Penserra Capital Management LLC bought a new stake in Clipper Realty during the second quarter worth $955,000. Jane Street Group LLC raised its holdings in shares of Clipper Realty by 56.4% during the 1st quarter. Jane Street Group LLC now owns 142,027 shares of the company’s stock worth $545,000 after buying an additional 51,231 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Clipper Realty by 25.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 97,027 shares of the company’s stock worth $373,000 after buying an additional 19,640 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of Clipper Realty by 21.6% during the 2nd 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 last quarter. Finally, Brookwood Investment Group LLC boosted its stake in Clipper Realty by 38.6% in the second quarter. Brookwood Investment Group LLC now owns 74,582 shares of the company’s stock valued at $274,000 after buying an additional 20,762 shares in the last quarter. 37.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CLPR has been the subject of several research analyst reports. Wall Street Zen downgraded Clipper Realty from a “hold” rating to a “sell” rating in a research note on Monday, August 18th. Zacks Research cut shares of Clipper Realty from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Clipper Realty presently has an average rating of “Hold”.

Clipper Realty Trading Down 1.4%

NYSE:CLPR opened at $3.61 on Friday. The stock’s 50-day moving average is $3.94 and its 200-day moving average is $3.95. Clipper Realty Inc. has a 1-year low of $3.39 and a 1-year high of $6.49. The stock has a market cap of $58.30 million, a P/E ratio of -3.22 and a beta of 1.04.

Clipper Realty (NYSE:CLPR) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $37.70 million during the quarter, compared to the consensus estimate of $37.90 million. As a group, equities analysts forecast that Clipper Realty Inc. will post 0.39 EPS for the current year.

Clipper Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Wednesday, November 26th will be paid a $0.095 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $0.38 annualized dividend and a dividend yield of 10.5%. Clipper Realty’s payout ratio is currently -33.93%.

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.