Zacks: Clipper Realty Inc. (CLPR) Given Average Recommendation of “Strong Buy” by Analysts
Clipper Realty Inc. (NASDAQ:CLPR) has been given an average broker rating score of 1.33 (Strong Buy) from the three brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a buy rating and two have issued a strong buy rating on the company. Clipper Realty’s rating score has improved by 11.3% from 90 days ago as a result of a number of analysts’ ratings changes.
Brokers have set a 1-year consensus price objective of $15.67 for the company and are predicting that the company will post $0.10 EPS for the current quarter, according to Zacks. Zacks has also given Clipper Realty an industry rank of 169 out of 265 based on the ratings given to its competitors.
A number of research firms have weighed in on CLPR. Zacks Investment Research upgraded shares of Clipper Realty from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. FBR & Co reissued a “buy” rating and set a $16.00 target price on shares of Clipper Realty in a research report on Friday, October 27th. JMP Securities started coverage on shares of Clipper Realty in a research report on Monday, October 9th. They set an “outperform” rating and a $17.00 target price for the company. Finally, B. Riley reissued a “buy” rating on shares of Clipper Realty in a research report on Wednesday, November 1st.
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In other Clipper Realty news, Director Sam Levinson acquired 15,000 shares of Clipper Realty stock in a transaction on Monday, November 6th. The shares were bought at an average price of $10.72 per share, with a total value of $160,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Institutional investors have recently bought and sold shares of the business. Rhumbline Advisers bought a new stake in shares of Clipper Realty during the second quarter worth $226,000. Victory Capital Management Inc. bought a new stake in shares of Clipper Realty during the second quarter worth $3,233,000. American Financial Group Inc. bought a new stake in shares of Clipper Realty during the second quarter worth $13,711,000. Bank of New York Mellon Corp bought a new stake in shares of Clipper Realty during the first quarter worth $217,000. Finally, Teachers Insurance & Annuity Association of America bought a new stake in shares of Clipper Realty during the second quarter worth $189,000.
Clipper Realty (CLPR) traded down $0.05 during midday trading on Friday, hitting $11.00. 40,800 shares of the stock traded hands, compared to its average volume of 79,399. Clipper Realty has a twelve month low of $9.98 and a twelve month high of $15.00.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Monday, November 6th will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 3.45%. The ex-dividend date is Friday, November 3rd. Clipper Realty’s dividend payout ratio is currently -190.00%.
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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