Clipper Realty (NYSE:CLPR) Rating Lowered to Sell at Wall Street Zen

Clipper Realty (NYSE:CLPR) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday.

Clipper Realty Stock Performance

Shares of CLPR opened at $3.17 on Friday. Clipper Realty has a 1 year low of $2.83 and a 1 year high of $4.61. The company has a market cap of $51.15 million, a price-to-earnings ratio of -3.91 and a beta of 0.98. The firm has a fifty day moving average of $3.14 and a 200-day moving average of $3.37.

Clipper Realty (NYSE:CLPR) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.39). The firm had revenue of $38.12 million for the quarter, compared to the consensus estimate of $39.60 million. Analysts predict that Clipper Realty will post 0.32 EPS for the current year.

Hedge Funds Weigh In On Clipper Realty

Several hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in shares of Clipper Realty by 12.3% during the first quarter. AQR Capital Management LLC now owns 22,698 shares of the company’s stock valued at $87,000 after acquiring an additional 2,491 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Clipper Realty by 3.1% during the third quarter. Dimensional Fund Advisors LP now owns 147,119 shares of the company’s stock valued at $559,000 after acquiring an additional 4,375 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Clipper Realty by 48.0% during the fourth quarter. Wells Fargo & Company MN now owns 15,485 shares of the company’s stock valued at $59,000 after acquiring an additional 5,023 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Clipper Realty by 161.4% during the third quarter. Russell Investments Group Ltd. now owns 12,673 shares of the company’s stock valued at $48,000 after acquiring an additional 7,824 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Clipper Realty by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 339,418 shares of the company’s stock valued at $1,297,000 after acquiring an additional 8,738 shares during the period. Institutional investors and hedge funds 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.