Clipper Realty (NYSE:CLPR) Announces Quarterly Earnings Results, Misses Expectations By $0.25 EPS

Clipper Realty (NYSE:CLPR) announced its quarterly earnings results on Wednesday. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.25), FiscalAI reports. The company had revenue of $40.48 million during the quarter, compared to analyst estimates of $38.70 million.

Clipper Realty Stock Performance

CLPR traded down $0.01 during mid-day trading on Wednesday, reaching $3.35. 15,353 shares of the stock were exchanged, compared to its average volume of 73,931. The stock has a market capitalization of $54.06 million, a PE ratio of -3.60 and a beta of 0.99. The company has a 50 day moving average price of $3.25 and a two-hundred day moving average price of $3.18. Clipper Realty has a 1 year low of $2.69 and a 1 year high of $3.94.

Clipper Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Tuesday, August 18th were issued a dividend of $0.0950 per share. This represents a $0.38 dividend on an annualized basis and a yield of 11.4%. The ex-dividend date of this dividend was Tuesday, August 18th. Clipper Realty’s payout ratio is currently -40.86%.

Insider Buying and Selling at Clipper Realty

In other news, Director Sam Levinson purchased 9,317 shares of the company’s stock in a transaction that occurred on Thursday, September 24th. The shares were bought at an average cost of $3.38 per share, with a total value of $31,491.46. Following the completion of the transaction, the director directly owned 411,021 shares of the company’s stock, valued at approximately $1,389,250.98. This trade represents a 2.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jacob Bistricer purchased 73,500 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The shares were purchased at an average price of $3.35 per share, for a total transaction of $246,225.00. Following the completion of the acquisition, the chief operating officer owned 73,500 shares of the company’s stock, valued at $246,225. The trade was a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 484,521 shares of company stock valued at $1,567,874. Company insiders own 54.59% of the company’s stock.

Clipper Realty Company Profile

Clipper Realty Inc is a self-administered and self-managed real estate investment trust that owns, operates and develops multifamily residential properties in New York City. The company focuses primarily on apartment communities in Manhattan and Brooklyn, serving residents through rental housing and related property-management services.

Clipper Realty’s business includes acquiring well-located residential properties, managing day-to-day operations, maintaining buildings and apartments, and pursuing renovations or other improvements intended to enhance its properties.