Clipper Realty (NYSE:CLPR) Stock Price Breaks Above 50 Day Moving Average – Here’s What Happened

Clipper Realty Inc. (NYSE:CLPR) shares passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $3.24 and traded as high as $3.42. Clipper Realty shares last traded at $3.3360, with a volume of 25,931 shares trading hands.

Clipper Realty Price Performance

The firm has a market capitalization of $54.62 million, a P/E ratio of 11.89 and a beta of 0.99. The stock’s fifty day simple moving average is $3.24 and its 200 day simple moving average is $3.17.

Clipper Realty (NYSE:CLPR) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.25). The business had revenue of $40.48 million for the quarter, compared to analyst estimates of $38.70 million. As a group, sell-side analysts forecast that Clipper Realty Inc. will post 0.17 EPS for the current fiscal year.

Clipper Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Tuesday, November 17th will be issued a $0.0950 dividend. This represents a $0.38 annualized dividend and a yield of 11.2%. The ex-dividend date of this dividend is Tuesday, November 17th. Clipper Realty’s payout ratio is currently -39.18%.

Insider Buying and Selling at Clipper Realty

In other Clipper Realty news, Director Sam Levinson purchased 110,710 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were acquired at an average price of $3.31 per share, for a total transaction of $366,450.10. Following the completion of the purchase, the director owned 379,014 shares of the company’s stock, valued at approximately $1,254,536.34. The trade was a 41.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jacob Bistricer bought 73,500 shares of the company’s stock in a transaction on Monday, September 28th. The shares were bought at an average cost of $3.35 per share, for a total transaction of $246,225.00. Following the transaction, the chief operating officer owned 73,500 shares in the company, valued at $246,225. The trade was a ? increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 329,757 shares of company stock worth $1,079,066. 54.59% of the stock is owned by company insiders.

Institutional Trading of Clipper Realty

Several institutional investors and hedge funds have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Clipper Realty in the 2nd quarter valued at $412,000. BlackRock Inc. purchased a new position in shares of Clipper Realty during the second quarter worth $297,000. GSA Capital Partners LLP purchased a new position in shares of Clipper Realty during the second quarter worth $254,000. Russell Investments Group Ltd. raised its holdings in shares of Clipper Realty by 209.3% during the third quarter. Russell Investments Group Ltd. now owns 71,634 shares of the company’s stock worth $226,000 after purchasing an additional 48,471 shares during the last quarter. Finally, Equitable Holdings Inc. purchased a new position in shares of Clipper Realty during the second quarter worth $58,000. 37.57% of the stock is currently owned by institutional investors and hedge funds.

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.