Clipper Realty Inc (CLPR) Expected to Announce Quarterly Sales of $26.15 Million
Equities research analysts forecast that Clipper Realty Inc (NASDAQ:CLPR) will announce $26.15 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Clipper Realty’s earnings, with the lowest sales estimate coming in at $25.89 million and the highest estimate coming in at $26.40 million. The firm is expected to issue its next earnings results on Thursday, October 26th.
On average, analysts expect that Clipper Realty will report full year sales of $26.15 million for the current fiscal year, with estimates ranging from $102.84 million to $103.80 million. For the next fiscal year, analysts forecast that the firm will post sales of $109.93 million per share, with estimates ranging from $108.05 million to $111.80 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Clipper Realty.
Several research firms recently commented on CLPR. Zacks Investment Research downgraded shares of Clipper Realty from a “buy” rating to a “sell” rating in a research report on Monday, August 14th. FBR & Co reiterated a “buy” rating on shares of Clipper Realty in a research report on Tuesday, May 16th.
In other news, Director Sam Levinson purchased 83,334 shares of the stock in a transaction on Friday, June 9th. The stock was purchased at an average price of $11.25 per share, for a total transaction of $937,507.50. Following the acquisition, the director now owns 40,000 shares in the company, valued at $450,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its position in Clipper Realty by 132.5% in the second quarter. California State Teachers Retirement System now owns 26,500 shares of the company’s stock valued at $327,000 after buying an additional 15,100 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in Clipper Realty during the second quarter valued at about $180,000. State Street Corp raised its position in Clipper Realty by 410.5% in the second quarter. State Street Corp now owns 158,246 shares of the company’s stock valued at $1,952,000 after buying an additional 127,246 shares during the last quarter. Vanguard Group Inc. raised its position in Clipper Realty by 2,540.3% in the second quarter. Vanguard Group Inc. now owns 320,236 shares of the company’s stock valued at $3,952,000 after buying an additional 308,107 shares during the last quarter. Finally, Northern Trust Corp raised its position in Clipper Realty by 374.0% in the second quarter. Northern Trust Corp now owns 58,270 shares of the company’s stock valued at $719,000 after buying an additional 45,976 shares during the last quarter.
Clipper Realty (CLPR) opened at 10.54 on Monday. The stock’s 50 day moving average is $11.38 and its 200-day moving average is $12.02. The firm’s market capitalization is $187.74 million. Clipper Realty has a 12 month low of $9.98 and a 12 month high of $15.00.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were given a dividend of $0.095 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.38 annualized dividend and a yield of 3.61%.
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Clipper Realty Company Profile
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.
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