Clipper Realty (NYSE:CLPR) Director Sam Levinson Acquires 86,983 Shares

Clipper Realty Inc. (NYSE:CLPR) Director Sam Levinson acquired 86,983 shares of the stock in a transaction dated Tuesday, August 18th. The shares were bought at an average cost of $3.15 per share, for a total transaction of $273,996.45. Following the completion of the transaction, the director owned 241,747 shares in the company, valued at approximately $761,503.05. This represents a 56.20% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Sam Levinson also recently made the following trade(s):

• On Thursday, August 20th, Sam Levinson bought 2,392 shares of Clipper Realty stock. The stock was purchased at an average cost of $3.19 per share, with a total value of $7,630.48.
• On Wednesday, August 19th, Sam Levinson bought 9,260 shares of Clipper Realty stock. The stock was purchased at an average cost of $3.14 per share, with a total value of $29,076.40.
• On Friday, August 14th, Sam Levinson bought 3,945 shares of Clipper Realty stock. The shares were purchased at an average price of $3.29 per share, for a total transaction of $12,979.05.
• On Thursday, August 13th, Sam Levinson purchased 81,647 shares of Clipper Realty stock. The shares were purchased at an average cost of $3.21 per share, for a total transaction of $262,086.87.
• On Wednesday, August 12th, Sam Levinson purchased 69,172 shares of Clipper Realty stock. The stock was purchased at an average price of $3.09 per share, with a total value of $213,741.48.

Clipper Realty Price Performance

CLPR opened at $3.23 on Friday. The company has a 50 day simple moving average of $2.96 and a two-hundred day simple moving average of $3.12. The firm has a market cap of $52.19 million, a P/E ratio of -3.47 and a beta of 0.97. Clipper Realty Inc. has a 1-year low of $2.69 and a 1-year high of $4.61.

Clipper Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.095 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.38 dividend on an annualized basis and a yield of 11.8%. Clipper Realty’s dividend payout ratio (DPR) is currently -40.86%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Clipper Realty from a “hold” rating to a “sell” rating in a research note on Sunday, May 31st. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Clipper Realty has a consensus rating of “Hold”.

Hedge Funds Weigh In On Clipper Realty

Institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its position in shares of Clipper Realty by 48.0% during the fourth quarter. Wells Fargo & Company MN now owns 15,485 shares of the company’s stock valued at $59,000 after purchasing an additional 5,023 shares in the last quarter. Deutsche Bank AG bought a new position in Clipper Realty during the fourth quarter valued at approximately $63,000. Abel Hall LLC purchased a new position in Clipper Realty during the 3rd quarter valued at approximately $52,000. Russell Investments Group Ltd. increased its stake in Clipper Realty by 161.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 12,673 shares of the company’s stock worth $48,000 after acquiring an additional 7,824 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Clipper Realty by 209.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 22,300 shares of the company’s stock worth $85,000 after acquiring an additional 15,101 shares during the last quarter. 37.57% of the stock is owned by hedge funds and other institutional investors.

Clipper Realty Company Profile

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.