Clipper Realty (CLPR) Upgraded at Zacks Investment Research

Clipper Realty (NYSE:CLPR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Clipper Realty Inc. is a real estate investment trust. The Company specializes in acquiring, owning, repositioning, operating and managing asset. Clipper Realty Inc. is headquartered in Brooklyn, New York. “

Several other analysts have also commented on CLPR. B. Riley reaffirmed a “buy” rating on shares of Clipper Realty in a research report on Wednesday, November 1st. Raymond James Financial reissued a “buy” rating and issued a $14.00 price target on shares of Clipper Realty in a research report on Monday, December 4th. FBR & Co reissued a “buy” rating and issued a $16.00 price target on shares of Clipper Realty in a research report on Friday, October 27th. Finally, JMP Securities began coverage on shares of Clipper Realty in a research report on Monday, October 9th. They issued an “outperform” rating and a $17.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Clipper Realty presently has an average rating of “Buy” and a consensus target price of $15.00.

Shares of Clipper Realty (NYSE CLPR) traded down $0.47 during mid-day trading on Monday, reaching $7.73. 98,081 shares of the company’s stock traded hands, compared to its average volume of 58,195. The company has a market capitalization of $146.07 and a price-to-earnings ratio of -38.65. Clipper Realty has a twelve month low of $7.69 and a twelve month high of $15.00.

In other Clipper Realty news, Director Sam Levinson purchased 10,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were bought at an average price of $9.83 per share, with a total value of $98,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Several hedge funds and other institutional investors have recently bought and sold shares of CLPR. Nomura Asset Management Co. Ltd. bought a new stake in shares of Clipper Realty in the third quarter valued at approximately $114,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Clipper Realty in the third quarter valued at approximately $143,000. The Manufacturers Life Insurance Company bought a new stake in shares of Clipper Realty in the second quarter valued at approximately $180,000. New York State Common Retirement Fund bought a new stake in shares of Clipper Realty in the second quarter valued at approximately $196,000. Finally, Rhumbline Advisers bought a new stake in shares of Clipper Realty in the second quarter valued at approximately $226,000. 56.93% of the stock is currently owned by institutional investors.

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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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