Shares of Clipper Realty Inc. (NYSE:CLPR) have been given a consensus broker rating score of 1.33 (Strong Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company.
Brokerages have set a 12-month consensus price objective of $15.67 for the company and are anticipating that the company will post $0.10 EPS for the current quarter, according to Zacks. Zacks has also assigned Clipper Realty an industry rank of 227 out of 265 based on the ratings given to related companies.
Several research firms have commented on CLPR. B. Riley set a $16.00 price target on shares of Clipper Realty and gave the stock a “buy” rating in a research note on Friday. Raymond James Financial restated a “buy” rating and issued a $14.00 price target on shares of Clipper Realty in a research note on Monday, December 4th. Zacks Investment Research downgraded shares of Clipper Realty from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. FBR & Co restated a “buy” rating and issued a $16.00 price target on shares of Clipper Realty in a research note on Friday, October 27th. Finally, JMP Securities began coverage on shares of Clipper Realty in a research note on Monday, October 9th. They issued an “outperform” rating and a $17.00 price target for the company.
Clipper Realty (NYSE:CLPR) last posted its quarterly earnings results on Thursday, October 26th. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.14). Clipper Realty had a negative return on equity of 0.74% and a negative net margin of 2.66%. research analysts forecast that Clipper Realty will post 0.38 earnings per share for the current fiscal year.
In other news, Director Sam Levinson acquired 15,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was acquired at an average cost of $10.72 per share, with a total value of $160,800.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Several institutional investors have recently added to or reduced their stakes in CLPR. Schwab Charles Investment Management Inc. purchased a new stake in shares of Clipper Realty during the 2nd quarter worth $325,000. Rhumbline Advisers purchased a new stake in shares of Clipper Realty during the 2nd quarter worth $226,000. Bank of New York Mellon Corp lifted its position in shares of Clipper Realty by 230.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,988 shares of the company’s stock worth $691,000 after purchasing an additional 39,045 shares during the last quarter. Teachers Advisors LLC purchased a new stake in shares of Clipper Realty during the 2nd quarter worth $346,000. Finally, TIAA CREF Investment Management LLC purchased a new stake in shares of Clipper Realty during the 2nd quarter worth $493,000. 57.08% of the stock is owned by institutional investors and hedge funds.
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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