Clipper Realty (NYSE:CLPR) Announces Quarterly Earnings Results

Clipper Realty (NYSE:CLPR) posted its quarterly earnings results on Thursday. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03, Zacks reports. The company had revenue of $37.70 million for the quarter, compared to analysts’ expectations of $37.90 million.

Clipper Realty Stock Performance

Shares of NYSE CLPR opened at $3.70 on Friday. Clipper Realty has a 1 year low of $3.39 and a 1 year high of $6.49. The stock’s 50-day simple moving average is $4.00 and its 200-day simple moving average is $3.94. The firm has a market cap of $59.76 million, a price-to-earnings ratio of -3.30 and a beta of 1.04.

Clipper Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Wednesday, November 26th will be paid a dividend of $0.095 per share. The ex-dividend date is Wednesday, November 26th. This represents a $0.38 annualized dividend and a dividend yield of 10.3%. Clipper Realty’s dividend payout ratio (DPR) is currently -36.89%.

Insiders Place Their Bets

In other Clipper Realty news, CEO David Bistricer acquired 8,174 shares of the company’s stock in a transaction on Thursday, August 21st. The shares were bought at an average cost of $4.01 per share, for a total transaction of $32,777.74. Following the acquisition, the chief executive officer directly owned 8,174 shares of the company’s stock, valued at $32,777.74. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 53.01% of the stock is currently owned by company insiders.

Institutional Trading of Clipper Realty

Hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its stake in shares of Clipper Realty by 161.4% in the third quarter. Russell Investments Group Ltd. now owns 12,673 shares of the company’s stock worth $48,000 after buying an additional 7,824 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Clipper Realty in the 2nd quarter worth about $70,000. JPMorgan Chase & Co. raised its stake in shares of Clipper Realty by 209.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 22,300 shares of the company’s stock valued at $85,000 after purchasing an additional 15,101 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Clipper Realty by 12.3% in the 1st quarter. AQR Capital Management LLC now owns 22,698 shares of the company’s stock valued at $87,000 after purchasing an additional 2,491 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Clipper Realty in the first quarter worth about $193,000. Institutional investors and hedge funds own 37.57% of the company’s stock.

Analyst Ratings Changes

CLPR has been the topic of several research reports. Zacks Research lowered Clipper Realty from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Wall Street Zen downgraded Clipper Realty from a “hold” rating to a “sell” rating in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

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.