Clipper Realty Inc (NYSE:CLPR) – B. Riley issued their Q1 2018 earnings estimates for shares of Clipper Realty in a research report issued to clients and investors on Tuesday. B. Riley analyst C. Kucera forecasts that the company will earn $0.11 per share for the quarter. B. Riley has a “Buy” rating and a $16.00 price objective on the stock. B. Riley also issued estimates for Clipper Realty’s Q2 2018 earnings at $0.11 EPS, Q3 2018 earnings at $0.12 EPS, Q4 2018 earnings at $0.12 EPS, FY2018 earnings at $0.46 EPS, Q1 2019 earnings at $0.14 EPS, Q2 2019 earnings at $0.15 EPS, Q3 2019 earnings at $0.15 EPS, Q4 2019 earnings at $0.16 EPS and FY2019 earnings at $0.59 EPS.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Clipper Realty from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Wednesday, November 29th. Raymond James Financial restated a “buy” rating and set a $14.00 price objective on shares of Clipper Realty in a report on Monday, December 4th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $15.00.
Institutional investors and hedge funds have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. bought a new position in Clipper Realty in the third quarter valued at approximately $114,000. Citadel Advisors LLC bought a new position in Clipper Realty in the fourth quarter valued at approximately $115,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Clipper Realty in the third quarter valued at approximately $143,000. The Manufacturers Life Insurance Company bought a new position in Clipper Realty in the second quarter valued at approximately $180,000. Finally, New York State Common Retirement Fund bought a new position in Clipper Realty in the second quarter valued at approximately $196,000. 56.76% of the stock is currently owned by hedge funds and other institutional investors.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 22nd will be paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Wednesday, March 21st. Clipper Realty’s payout ratio is currently -253.33%.
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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