Bank of New York Mellon Corp Invests $217,000 in Clipper Realty Inc (CLPR)
Bank of New York Mellon Corp acquired a new position in Clipper Realty Inc (NASDAQ:CLPR) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 16,943 shares of the company’s stock, valued at approximately $217,000. Bank of New York Mellon Corp owned 0.10% of Clipper Realty as of its most recent filing with the SEC.
Separately, Mesirow Financial Investment Management Equity Management acquired a new stake in shares of Clipper Realty during the first quarter worth $239,000.
Clipper Realty Inc (NASDAQ CLPR) opened at 10.29 on Thursday. The stock’s market capitalization is $183.29 million. The company has a 50 day moving average of $11.80 and a 200 day moving average of $12.11. Clipper Realty Inc has a 52 week low of $10.07 and a 52 week high of $15.00.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 3.69%.
A number of brokerages have recently weighed in on CLPR. Zacks Investment Research upgraded shares of Clipper Realty from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Wednesday, June 21st. FBR & Co reaffirmed a “buy” rating on shares of Clipper Realty in a research note on Tuesday, May 16th.
In other news, Director Sam Levinson bought 83,334 shares of the stock in a transaction dated Friday, June 9th. The stock was purchased at an average cost of $11.25 per share, for a total transaction of $937,507.50. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at $450,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
About Clipper Realty
Clipper Realty, Inc is a real estate investment trust, which acquires, owns, manages, operates and repositions multi-family residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn. The Company’s segments include Commercial and Residential. As of June 30, 2016, it owned two residential/retail rental properties at 50 Murray Street and 53 Park Place in the Tribeca neighborhood of Manhattan, referred to as the Tribeca House properties.
Want to see what other hedge funds are holding CLPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Clipper Realty Inc (NASDAQ:CLPR).
Receive News & Stock Ratings for Clipper Realty Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clipper Realty Inc and related stocks with our FREE daily email newsletter.