Clipper Realty (NYSE:CLPR) Share Price Passes Below 50 Day Moving Average – What’s Next?

Clipper Realty Inc. (NYSE:CLPR) shares crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $3.12 and traded as low as $2.73. Clipper Realty shares last traded at $2.8640, with a volume of 115,911 shares changing hands.

Wall Street Analyst Weigh In

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

Clipper Realty Stock Performance

The stock’s 50-day simple moving average is $3.12 and its 200-day simple moving average is $3.28. The firm has a market capitalization of $46.28 million, a PE ratio of -3.54 and a beta of 0.98.

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

Clipper Realty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Tuesday, May 26th were paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 13.3%. The ex-dividend date of this dividend was Tuesday, May 26th. Clipper Realty’s dividend payout ratio is presently -46.91%.

Institutional Trading of Clipper Realty

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its position in Clipper Realty by 12.3% during the 1st 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 in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Clipper Realty by 3.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 147,119 shares of the company’s stock worth $559,000 after acquiring an additional 4,375 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Clipper Realty by 48.0% in the 4th quarter. Wells Fargo & Company MN now owns 15,485 shares of the company’s stock valued at $59,000 after purchasing an additional 5,023 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Clipper Realty by 161.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 12,673 shares of the company’s stock valued at $48,000 after purchasing an additional 7,824 shares during the period. Finally, Geode Capital Management LLC boosted its position 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 purchasing an additional 8,738 shares in the last quarter. 37.57% of the stock is currently owned by hedge funds and other institutional investors.

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.