Clipper Realty Inc (CLPR) Expected to Post Quarterly Sales of $26.15 Million
Brokerages expect Clipper Realty Inc (NASDAQ:CLPR) to post sales of $26.15 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Clipper Realty’s earnings. The highest sales estimate is $26.40 million and the lowest is $25.89 million. The business is expected to announce its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that Clipper Realty will report full year sales of $26.15 million for the current year, with estimates ranging from $102.84 million to $103.80 million. For the next fiscal year, analysts forecast that the business will post sales of $109.93 million per share, with estimates ranging from $108.05 million to $111.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Clipper Realty.
CLPR has been the topic of several research reports. FBR & Co reissued a “buy” rating on shares of Clipper Realty in a research report on Tuesday, May 16th. Zacks Investment Research raised shares of Clipper Realty from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Friday, May 26th.
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Clipper Realty (NASDAQ:CLPR) opened at 10.93 on Friday. The firm’s 50-day moving average is $10.97 and its 200-day moving average is $11.86. Clipper Realty has a 52-week low of $9.98 and a 52-week high of $15.00. The stock’s market cap is $194.69 million.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were given a dividend of $0.095 per share. The ex-dividend date was Thursday, August 3rd. This represents a $0.38 annualized dividend and a dividend yield of 3.48%.
Large investors have recently modified their holdings of the stock. Citadel Advisors LLC acquired a new stake in Clipper Realty in the first quarter valued at approximately $162,000. The Manufacturers Life Insurance Company acquired a new stake in Clipper Realty in the second quarter valued at approximately $180,000. Teachers Insurance & Annuity Association of America acquired a new stake in Clipper Realty in the second quarter valued at approximately $189,000. New York State Common Retirement Fund acquired a new stake in Clipper Realty in the second quarter valued at approximately $196,000. Finally, Bank of New York Mellon Corp acquired a new stake in Clipper Realty in the first quarter valued at approximately $217,000.
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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