Investment analysts at B. Riley started coverage on shares of Clipper Realty (NYSE:CLPR) in a report issued on Monday. The firm set a “buy” rating and a $16.00 price target on the stock. B. Riley’s price target suggests a potential upside of 80.79% from the company’s previous close.
A number of other brokerages have also recently weighed in on CLPR. Zacks Investment Research raised shares of Clipper Realty from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Wednesday, November 29th. Raymond James Financial reaffirmed a “buy” rating and set a $14.00 price target on shares of Clipper Realty in a research report on Monday, December 4th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Clipper Realty currently has an average rating of “Buy” and an average target price of $15.00.
Shares of Clipper Realty (NYSE:CLPR) opened at $8.85 on Monday. Clipper Realty has a 12-month low of $7.64 and a 12-month high of $13.92. The firm has a market cap of $157.64 and a price-to-earnings ratio of -59.00.
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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