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

Clipper Realty Inc. (NYSE:CLPR) saw a significant drop in short interest in June. As of June 30th, there was short interest totaling 148,979 shares, a drop of 60.4% from the June 15th total of 376,633 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average daily volume of 274,633 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Clipper Realty

Several large investors have recently modified their holdings of the company. Focus Partners Wealth acquired a new stake in shares of Clipper Realty in the third quarter valued at approximately $335,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Clipper Realty in the 4th quarter valued at $202,000. Jane Street Group LLC raised its position in Clipper Realty by 56.4% in the 1st quarter. Jane Street Group LLC now owns 142,027 shares of the company’s stock valued at $545,000 after purchasing an additional 51,231 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Clipper Realty in the 1st quarter valued at $193,000. Finally, Geode Capital Management LLC boosted its stake in Clipper Realty by 9.3% during the 2nd quarter. Geode Capital Management LLC now owns 333,970 shares of the company’s stock worth $1,226,000 after purchasing an additional 28,385 shares during the period. 37.57% of the stock is owned by institutional investors and hedge funds.

Clipper Realty Stock Performance

Shares of CLPR stock opened at $2.90 on Monday. The stock’s 50-day moving average is $3.06 and its two-hundred day moving average is $3.26. Clipper Realty has a 1 year low of $2.69 and a 1 year high of $4.61. The firm has a market cap of $46.93 million, a price-to-earnings ratio of -3.59 and a beta of 0.98.

Clipper Realty (NYSE:CLPR) last posted its earnings results on Thursday, May 14th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.39). The firm had revenue of $38.12 million during the quarter, compared to analyst estimates of $39.60 million. As a group, research analysts predict that Clipper Realty will post 0.26 EPS for the current year.

Clipper Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Tuesday, May 26th were given a dividend of $0.095 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.38 annualized dividend and a yield of 13.1%. Clipper Realty’s payout ratio is -46.91%.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Clipper Realty from a “hold” rating to a “sell” rating in a report on Sunday, May 31st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Clipper Realty Company Profile

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.