Clipper Realty Inc. (NYSE:CLPR) Short Interest Up 52.6% in March

Clipper Realty Inc. (NYSE:CLPR) was the target of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 443,393 shares, a growth 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 days-to-cover ratio is presently 6.1 days.

Clipper Realty Stock Performance

Shares of CLPR opened at $2.94 on Friday. Clipper Realty has a 52-week low of $2.92 and a 52-week high of $4.61. The business’s fifty day moving average is $3.33 and its 200-day moving average is $3.63. The firm has a market cap of $47.40 million, a price-to-earnings ratio of -2.14 and a beta of 0.97.

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

Clipper Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, March 12th were given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 12.9%. The ex-dividend date was Thursday, March 12th. Clipper Realty’s dividend payout ratio is currently -27.74%.

Insider Buying and Selling

In other news, Director Sam Levinson acquired 33,494 shares of the stock in a transaction on Monday, December 29th. The stock was acquired at an average cost of $3.71 per share, for a total transaction of $124,262.74. Following the completion of the transaction, the director directly owned 57,099 shares in the company, valued at approximately $211,837.29. This trade represents a 141.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have purchased 58,263 shares of company stock worth $216,184 in the last three months. 53.01% of the stock is owned by insiders.

Institutional Trading of Clipper Realty

A number of hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in shares of Clipper Realty during the fourth quarter worth $42,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Clipper Realty in the 3rd quarter valued at $44,000. Russell Investments Group Ltd. boosted its holdings in shares of Clipper Realty by 161.4% during the 3rd 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 in the last quarter. Abel Hall LLC acquired a new stake in shares of Clipper Realty during the 3rd quarter valued at $52,000. Finally, Wells Fargo & Company MN grew its position in Clipper Realty by 48.0% during the 4th quarter. Wells Fargo & Company MN now owns 15,485 shares of the company’s stock worth $59,000 after acquiring an additional 5,023 shares during the last quarter. Institutional investors and hedge funds own 37.57% of the company’s stock.

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.