Clipper Realty Inc. (NYSE:CLPR) Sees Significant Increase in Short Interest

Clipper Realty Inc. (NYSE:CLPR) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 272,833 shares, a growth of 29.8% from the December 31st total of 210,217 shares. Based on an average daily volume of 76,228 shares, the days-to-cover ratio is currently 3.6 days. Approximately 3.6% of the shares of the company are sold short. Approximately 3.6% of the shares of the company are sold short. Based on an average daily volume of 76,228 shares, the days-to-cover ratio is currently 3.6 days.

Clipper Realty Price Performance

NYSE:CLPR traded down $0.07 during trading hours on Tuesday, reaching $3.35. 105,108 shares of the company were exchanged, compared to its average volume of 60,436. The business has a 50 day moving average of $3.57 and a 200 day moving average of $3.83. Clipper Realty has a 1-year low of $3.30 and a 1-year high of $5.16. The company has a market capitalization of $54.10 million, a P/E ratio of -2.99 and a beta of 0.98.

Clipper Realty (NYSE:CLPR) last announced its quarterly earnings data on Thursday, November 13th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $37.70 million during the quarter, compared to analyst estimates of $37.90 million. As a group, equities research analysts anticipate that Clipper Realty will post 0.39 earnings per share for the current fiscal year.

Clipper Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Wednesday, November 26th were paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 11.3%. The ex-dividend date was Wednesday, November 26th. Clipper Realty’s dividend payout ratio is presently -33.93%.

Insider Buying and Selling at Clipper Realty

In other news, Director Sam Levinson purchased 33,494 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The stock was acquired at an average cost of $3.71 per share, with a total value of $124,262.74. Following the acquisition, the director owned 57,099 shares in the company, valued at approximately $211,837.29. This trade represents a 141.89% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 58,263 shares of company stock worth $216,184 in the last 90 days. 53.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clipper Realty

Hedge funds and other institutional investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. bought a new stake in shares of Clipper Realty during the 3rd quarter worth approximately $44,000. Russell Investments Group Ltd. raised its position in Clipper Realty by 161.4% during the third quarter. Russell Investments Group Ltd. now owns 12,673 shares of the company’s stock valued at $48,000 after purchasing an additional 7,824 shares in the last quarter. Abel Hall LLC bought a new stake in Clipper Realty during the third quarter worth $52,000. Harpswell Capital Advisors LLC acquired a new stake in shares of Clipper Realty in the 3rd quarter valued at $72,000. Finally, Ameriprise Financial Inc. bought a new position in shares of Clipper Realty in the 2nd quarter valued at $70,000. 37.57% of the stock is currently owned by institutional investors and hedge funds.

About Clipper Realty

Clipper Realty Inc is a publicly traded real estate investment trust that acquires, owns and manages multifamily residential and mixed‐use properties in the Greater New York metropolitan area. Since its initial public offering in early 2017, the company has focused on strategically sourcing apartment buildings and retail space in Manhattan and Brooklyn, with an emphasis on value‐add opportunities that can benefit from in‐house leasing, renovation and operational efficiencies.

The company’s primary activities include property acquisition, selective repositioning and asset management.