Clipper Realty (NYSE:CLPR) Shares Cross Above 50-Day Moving Average – Time to Sell?

Clipper Realty Inc. (NYSE:CLPR) crossed 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 changing hands.

Clipper Realty Trading Up 4.2%

The stock has a market capitalization of $53.91 million, a P/E ratio of -3.44 and a beta of 0.99. The company has a 50-day moving average price of $3.24 and a 200 day moving average price of $3.17.

Clipper Realty (NYSE:CLPR) last posted its earnings results on Wednesday, November 4th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.25). The company had revenue of $40.48 million for the quarter, compared to the consensus estimate of $38.70 million. As a group, research analysts expect that Clipper Realty Inc. will post 0.17 earnings per share for the current year.

Clipper Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Tuesday, November 17th will be issued a $0.0950 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 11.4%. Clipper Realty’s dividend payout ratio is currently -39.18%.

Insider Activity

In other news, Director Sam Levinson acquired 110,710 shares of Clipper Realty stock in a transaction dated Wednesday, September 9th. The stock was purchased at an average cost of $3.31 per share, for a total transaction of $366,450.10. Following the completion of the purchase, the director directly owned 379,014 shares in the company, valued at $1,254,536.34. This trade represents a 41.26% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jacob Bistricer bought 73,500 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The shares were purchased at an average cost of $3.35 per share, with a total value of $246,225.00. Following the acquisition, the chief operating officer directly owned 73,500 shares of the company’s stock, valued at approximately $246,225. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 333,702 shares of company stock valued at $1,092,045. Company insiders own 54.59% of the company’s stock.

Hedge Funds Weigh In On Clipper Realty

Hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its position in Clipper Realty by 209.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 71,634 shares of the company’s stock worth $226,000 after buying an additional 48,471 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Clipper Realty in the second quarter worth $31,000. BlackRock Inc. acquired a new stake in shares of Clipper Realty in the second quarter worth $297,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Clipper Realty during the second quarter worth $412,000. Finally, Equitable Holdings Inc. purchased a new position in shares of Clipper Realty during the second quarter worth $58,000. Institutional investors and hedge funds own 37.57% of the company’s stock.

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.