Clipper Realty (NYSE:CLPR) Releases Earnings Results, Beats Estimates By $0.03 EPS

Clipper Realty (NYSE:CLPR) posted its quarterly earnings results on Thursday. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03, Zacks reports.

Clipper Realty Stock Performance

Shares of NYSE CLPR opened at $3.76 on Friday. The business has a 50 day simple moving average of $4.01 and a 200 day simple moving average of $3.94. Clipper Realty has a 52 week low of $3.39 and a 52 week high of $6.49. The stock has a market cap of $60.72 million, a price-to-earnings ratio of -3.65 and a beta of 1.04.

Clipper Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Wednesday, November 26th will be issued a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 10.1%. The ex-dividend date is Wednesday, November 26th. Clipper Realty’s payout ratio is currently -36.89%.

Analysts Set New Price Targets

Several equities analysts have weighed in on CLPR shares. Wall Street Zen cut Clipper Realty from a “hold” rating to a “sell” rating in a research note on Monday, August 18th. Zacks Research cut shares of Clipper Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Clipper Realty currently has an average rating of “Hold”.

Insider Buying and Selling

In other Clipper Realty news, CEO David Bistricer bought 8,174 shares of the firm’s stock in a transaction on Thursday, August 21st. The stock was bought at an average cost of $4.01 per share, with a total value of $32,777.74. Following the completion of the transaction, the chief executive officer directly owned 8,174 shares of the company’s stock, valued at approximately $32,777.74. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 53.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Clipper Realty

Large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its holdings 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 buying an additional 7,824 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Clipper Realty during the 2nd quarter valued at about $70,000. JPMorgan Chase & Co. increased its holdings in shares of Clipper Realty by 209.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,300 shares of the company’s stock valued at $85,000 after acquiring an additional 15,101 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Clipper Realty by 12.3% in the 1st quarter. AQR Capital Management LLC now owns 22,698 shares of the company’s stock valued at $87,000 after acquiring an additional 2,491 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Clipper Realty in the 1st quarter worth approximately $193,000. 37.57% of the stock is currently owned by institutional investors.

About Clipper Realty

Clipper Realty Inc (NYSE: CLPR) is a self-administered and self-managed real estate company that acquires, owns, manages, operates, and repositions multifamily residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn.