Clipper Realty Inc. (CLPR) Given Average Rating of “Strong Buy” by Brokerages
Clipper Realty Inc. (NYSE:CLPR) has earned an average broker rating score of 1.33 (Strong Buy) from the three brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy rating and two have issued a strong buy rating on the company. Clipper Realty’s rating score has improved by 11.3% from 90 days ago as a result of various analysts’ ratings changes.
Analysts have set a 12 month consensus price target of $15.67 for the company and are forecasting that the company will post $0.10 EPS for the current quarter, according to Zacks. Zacks has also given Clipper Realty an industry rank of 161 out of 265 based on the ratings given to related companies.
A number of equities research analysts recently issued reports on CLPR shares. Zacks Investment Research raised Clipper Realty from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. FBR & Co reissued a “buy” rating and set a $16.00 price target on shares of Clipper Realty in a research report on Friday, October 27th. B. Riley reissued a “buy” rating on shares of Clipper Realty in a research report on Wednesday, November 1st. Finally, JMP Securities started coverage on Clipper Realty in a research report on Monday, October 9th. They set an “outperform” rating and a $17.00 price target on the stock.
Shares of Clipper Realty (NYSE CLPR) traded down $0.73 during trading hours on Wednesday, reaching $9.86. The company had a trading volume of 224,500 shares, compared to its average volume of 80,053. The firm has a market capitalization of $188.64 and a P/E ratio of 30.26. Clipper Realty has a 1-year low of $9.66 and a 1-year high of $15.00.
The business also recently declared a quarterly dividend, which was paid on Monday, November 13th. Investors of record on Monday, November 6th were given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date was Friday, November 3rd. Clipper Realty’s dividend payout ratio is currently -189.99%.
In other Clipper Realty news, Director Sam Levinson bought 15,000 shares of Clipper Realty stock in a transaction on Monday, November 6th. The shares were purchased at an average price of $10.72 per share, with a total value of $160,800.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.
Several hedge funds have recently modified their holdings of CLPR. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Clipper Realty in the 3rd quarter valued at $114,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Clipper Realty in the 3rd quarter valued at $143,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Clipper Realty in the 2nd quarter valued at $180,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Clipper Realty in the 2nd quarter valued at $189,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Clipper Realty in the 2nd quarter valued at $196,000. 54.44% of the stock is currently owned by hedge funds and other institutional investors.
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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