Analysts Set $15.00 Target Price for Clipper Realty Inc (CLPR)
Shares of Clipper Realty Inc (NASDAQ:CLPR) have been assigned an average broker rating score of 1.50 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a buy recommendation and one has given a strong buy recommendation to the company.
Analysts have set a 1-year consensus price target of $15.00 for the company and are anticipating that the company will post $0.11 EPS for the current quarter, according to Zacks. Zacks has also assigned Clipper Realty an industry rank of 166 out of 265 based on the ratings given to related companies.
CLPR has been the topic of several recent analyst reports. Zacks Investment Research raised Clipper Realty from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Friday, May 26th. FBR & Co reissued a “buy” rating on shares of Clipper Realty in a report on Tuesday, May 16th.
In related news, Director Sam Levinson acquired 83,334 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was bought at an average price of $11.25 per share, for a total transaction of $937,507.50. Following the completion of the purchase, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $450,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Institutional investors have recently added to or reduced their stakes in the stock. EJF Capital LLC bought a new position in Clipper Realty during the first quarter valued at about $4,414,000. Citadel Advisors LLC bought a new position in Clipper Realty during the first quarter valued at about $162,000. Oxford Asset Management bought a new position in Clipper Realty during the first quarter valued at about $432,000. Park West Asset Management LLC bought a new position in Clipper Realty during the first quarter valued at about $3,986,000. Finally, Mesirow Financial Investment Management Equity Management bought a new position in Clipper Realty during the first quarter valued at about $239,000.
Clipper Realty (NASDAQ CLPR) traded down 0.57% during mid-day trading on Monday, hitting $10.48. The stock had a trading volume of 42,848 shares. The stock’s market cap is $186.67 million. Clipper Realty has a 52-week low of $10.07 and a 52-week high of $15.00. The firm has a 50-day moving average of $12.17 and a 200-day moving average of $12.19.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be issued a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 3.63%. The ex-dividend date is Thursday, August 3rd.
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About Clipper Realty
Clipper Realty, Inc is a real estate investment trust, which acquires, owns, manages, operates and repositions multi-family residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn. The Company’s segments include Commercial and Residential. As of June 30, 2016, it owned two residential/retail rental properties at 50 Murray Street and 53 Park Place in the Tribeca neighborhood of Manhattan, referred to as the Tribeca House properties.
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