Clipper Realty Inc. (NYSE:CLPR) Sees Large Increase in Short Interest

Clipper Realty Inc. (NYSE:CLPR) was the target of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 443,393 shares, an increase of 52.6% from the February 26th total of 290,570 shares. Approximately 5.8% of the shares of the stock are sold short. Based on an average trading volume of 72,408 shares, the short-interest ratio is presently 6.1 days.

Clipper Realty Price Performance

Clipper Realty stock opened at $2.94 on Monday. The stock has a market capitalization of $47.39 million, a P/E ratio of -2.14 and a beta of 0.97. Clipper Realty has a 12-month low of $2.92 and a 12-month high of $4.61. The firm’s 50-day moving average is $3.33 and its two-hundred day moving average is $3.62.

Clipper Realty (NYSE:CLPR) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.41). The firm had revenue of $37.07 million for the quarter, compared to analyst estimates of $38.10 million. As a group, analysts forecast that Clipper Realty will post 0.39 EPS for the current year.

Clipper Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 12th were paid a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 12.9%. The ex-dividend date of this dividend was Thursday, March 12th. Clipper Realty’s payout ratio is presently -27.74%.

Insider Buying and Selling

In related news, Director Sam Levinson acquired 19,558 shares of the company’s stock in a transaction that occurred on Tuesday, December 30th. The stock was purchased at an average price of $3.70 per share, for a total transaction of $72,364.60. Following the transaction, the director owned 79,410 shares in the company, valued at $293,817. This trade represents a 32.68% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 53.01% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Focus Partners Wealth purchased a new stake in shares of Clipper Realty in the third quarter valued at $335,000. Two Sigma Investments LP increased its stake in Clipper Realty by 19.3% in the third quarter. Two Sigma Investments LP now owns 86,968 shares of the company’s stock valued at $330,000 after purchasing an additional 14,045 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Clipper Realty during the first quarter worth about $193,000. Ameriprise Financial Inc. purchased a new position in Clipper Realty during the second quarter worth about $70,000. Finally, Deutsche Bank AG acquired a new stake in Clipper Realty in the 4th quarter worth about $63,000. Hedge funds and other institutional investors own 37.57% of the company’s stock.

About Clipper Realty

Clipper Realty Inc is a publicly traded real estate investment trust that acquires, owns and manages multifamily residential and mixed‐use properties in the Greater New York metropolitan area. Since its initial public offering in early 2017, the company has focused on strategically sourcing apartment buildings and retail space in Manhattan and Brooklyn, with an emphasis on value‐add opportunities that can benefit from in‐house leasing, renovation and operational efficiencies.

The company’s primary activities include property acquisition, selective repositioning and asset management.