Insider Buying: Clipper Realty (NYSE:CLPR) Director Acquires $12,979.05 in Stock

Clipper Realty Inc. (NYSE:CLPR) Director Sam Levinson purchased 3,945 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average price of $3.29 per share, with a total value of $12,979.05. Following the completion of the transaction, the director directly owned 154,764 shares of the company’s stock, valued at $509,173.56. This represents a 2.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, August 13th, Sam Levinson acquired 81,647 shares of Clipper Realty stock. The stock was purchased at an average price of $3.21 per share, for a total transaction of $262,086.87.
• On Wednesday, August 12th, Sam Levinson bought 69,172 shares of Clipper Realty stock. The shares were acquired at an average cost of $3.09 per share, for a total transaction of $213,741.48.

Clipper Realty Stock Down 0.6%

Clipper Realty stock opened at $3.32 on Monday. The company has a fifty day simple moving average of $2.96 and a 200-day simple moving average of $3.13. The firm has a market capitalization of $53.67 million, a price-to-earnings ratio of -3.57 and a beta of 0.97. Clipper Realty Inc. has a 52-week low of $2.69 and a 52-week high of $4.61.

Clipper Realty (NYSE:CLPR) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.39). The firm had revenue of $38.12 million for the quarter, compared to analysts’ expectations of $39.60 million. On average, research analysts anticipate that Clipper Realty Inc. will post 0.26 EPS for the current fiscal year.

Clipper Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Tuesday, August 18th will be given a $0.095 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 11.4%. Clipper Realty’s dividend payout ratio is -40.86%.

Institutional Trading of Clipper Realty

Several hedge funds have recently made changes to their positions in CLPR. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Clipper Realty during the 2nd quarter valued at approximately $412,000. BlackRock Inc. purchased a new position in Clipper Realty in the second quarter worth approximately $297,000. Bank of New York Mellon Corp acquired a new stake in Clipper Realty during the second quarter worth $31,000. GSA Capital Partners LLP acquired a new stake in Clipper Realty during the second quarter worth $254,000. Finally, Virtu Financial LLC purchased a new stake in Clipper Realty in the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 37.57% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.