Zacks Investment Research Lowers Clipper Realty (NYSE:CLPR) to Hold

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Zacks Investment Research lowered shares of Clipper Realty (NYSE:CLPR) from a strong-buy rating to a hold rating in a research note published on Thursday, Zacks.com reports.

According to Zacks, “Clipper Realty Inc. is a real estate investment trust. The Company specializes in acquiring, owning, repositioning, operating and managing asset. Clipper Realty Inc. is headquartered in Brooklyn, New York. “

Separately, ValuEngine cut shares of Clipper Realty from a buy rating to a hold rating in a research note on Friday, July 19th.

Shares of CLPR stock opened at $11.02 on Thursday. Clipper Realty has a one year low of $9.80 and a one year high of $14.38. The company’s 50-day moving average is $11.03 and its 200 day moving average is $12.48. The company has a market capitalization of $195.96 million, a price-to-earnings ratio of 24.49 and a beta of 0.05.

Clipper Realty (NYSE:CLPR) last posted its earnings results on Thursday, August 1st. The company reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.03. The business had revenue of $28.45 million for the quarter, compared to analysts’ expectations of $28.08 million. Clipper Realty had a negative net margin of 0.58% and a negative return on equity of 0.41%. As a group, analysts anticipate that Clipper Realty will post 0.47 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Tuesday, August 13th will be paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Monday, August 12th. Clipper Realty’s dividend payout ratio is currently 84.44%.

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its position in shares of Clipper Realty by 0.8% during the 4th quarter. BlackRock Inc. now owns 754,734 shares of the company’s stock worth $9,864,000 after purchasing an additional 6,170 shares in the last quarter. Northern Trust Corp grew its position in shares of Clipper Realty by 0.7% during the 4th quarter. Northern Trust Corp now owns 167,206 shares of the company’s stock worth $2,186,000 after purchasing an additional 1,107 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Clipper Realty by 25.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 43,868 shares of the company’s stock worth $573,000 after purchasing an additional 8,766 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Clipper Realty by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 121,373 shares of the company’s stock worth $1,586,000 after purchasing an additional 7,150 shares in the last quarter. Finally, FMR LLC grew its position in shares of Clipper Realty by 65.5% during the 4th quarter. FMR LLC now owns 2,197,224 shares of the company’s stock worth $28,717,000 after purchasing an additional 869,790 shares in the last quarter. Institutional investors and hedge funds own 69.57% of the company’s stock.

About Clipper Realty

Clipper Realty Inc (NYSE: CLPR) is a self-administered and self-managed real estate company that acquires, owns, manages, operates and repositions multifamily residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn.

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