Clipper Realty Inc (CLPR) Expected to Post Earnings of $0.10 Per Share
Wall Street analysts forecast that Clipper Realty Inc (NASDAQ:CLPR) will report earnings per share (EPS) of $0.10 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Clipper Realty’s earnings, with the lowest EPS estimate coming in at $0.09 and the highest estimate coming in at $0.10. Clipper Realty reported earnings per share of ($0.09) in the same quarter last year, which suggests a positive year over year growth rate of 211.1%. The business is expected to issue its next earnings results on Thursday, March 29th.
On average, analysts expect that Clipper Realty will report full year earnings of $0.38 per share for the current fiscal year, with EPS estimates ranging from $0.37 to $0.38. For the next financial year, analysts anticipate that the business will post earnings of $0.45 per share, with EPS estimates ranging from $0.43 to $0.46. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Clipper Realty.
CLPR has been the topic of several research reports. Zacks Investment Research downgraded shares of Clipper Realty from a “buy” rating to a “sell” rating in a research report on Monday, August 14th. JMP Securities assumed coverage on shares of Clipper Realty in a research report on Monday, October 9th. They set an “outperform” rating and a $17.00 target price on the stock. Finally, FBR & Co reiterated a “buy” rating and issued a $16.00 price target on shares of Clipper Realty in a research report on Friday, October 27th.
Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. acquired a new stake in shares of Clipper Realty in the 2nd quarter valued at approximately $3,233,000. American Financial Group Inc. acquired a new stake in shares of Clipper Realty in the 2nd quarter valued at approximately $13,711,000. Rhumbline Advisers acquired a new stake in shares of Clipper Realty in the 2nd quarter valued at approximately $226,000. Bank of New York Mellon Corp acquired a new stake in shares of Clipper Realty in the 1st quarter valued at approximately $217,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Clipper Realty in the 1st quarter valued at approximately $162,000.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Monday, November 6th will be given a $0.095 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 3.50%.
Clipper Realty Company Profile
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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