Clipper Realty (NYSE:CLPR) Downgraded by Raymond James to Underperform

Clipper Realty (NYSE:CLPR) was downgraded by investment analysts at Raymond James from an “outperform” rating to an “underperform” rating in a research note issued on Monday, Marketbeat.com reports.

Separately, JMP Securities reiterated a “market perform” rating on shares of Clipper Realty in a research note on Thursday, April 11th.

Clipper Realty Trading Down 3.9 %

CLPR opened at $3.91 on Monday. Clipper Realty has a 1-year low of $3.65 and a 1-year high of $6.86. The company has a market cap of $62.79 million, a price-to-earnings ratio of -8.69 and a beta of 1.22. The company’s fifty day moving average price is $4.75 and its two-hundred day moving average price is $4.95.

Hedge Funds Weigh In On Clipper Realty

Several institutional investors have recently added to or reduced their stakes in CLPR. Northwestern Mutual Wealth Management Co. bought a new position in Clipper Realty during the fourth quarter valued at about $26,000. Tower Research Capital LLC TRC grew its position in Clipper Realty by 232.3% during the first quarter. Tower Research Capital LLC TRC now owns 5,150 shares of the company’s stock valued at $29,000 after buying an additional 3,600 shares during the period. Wells Fargo & Company MN grew its position in Clipper Realty by 130.5% during the second quarter. Wells Fargo & Company MN now owns 5,293 shares of the company’s stock valued at $30,000 after buying an additional 2,997 shares during the period. BNP Paribas Arbitrage SNC grew its position in Clipper Realty by 73.4% during the third quarter. BNP Paribas Arbitrage SNC now owns 4,391 shares of the company’s stock valued at $31,000 after buying an additional 1,858 shares during the period. Finally, Deutsche Bank AG grew its position in Clipper Realty by 51.9% during the first quarter. Deutsche Bank AG now owns 8,531 shares of the company’s stock valued at $49,000 after buying an additional 2,916 shares during the period. Institutional investors own 37.57% 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.