Clipper Realty (NYSE:CLPR) Shares Climb 1.8% – Here’s What Happened

Shares of Clipper Realty Inc. (NYSE:CLPR) were up 1.8% during mid-day trading on Wednesday. The stock traded as high as $3.18 and last traded at $3.1650. Approximately 30,486 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 39,079 shares. The stock had previously closed at $3.11.

Clipper Realty Stock Performance

The firm’s 50-day moving average is $3.26 and its 200 day moving average is $3.13. The stock has a market cap of $49.77 million, a PE ratio of -3.32 and a beta of 1.00.

Clipper Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Tuesday, August 18th were given a $0.0950 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $0.38 annualized dividend and a dividend yield of 12.3%. Clipper Realty’s dividend payout ratio is presently -40.86%.

Insider Activity at Clipper Realty

In related news, COO Jacob Bistricer bought 73,500 shares of the business’s stock in a transaction on Monday, September 28th. The stock was bought at an average price of $3.35 per share, for a total transaction of $246,225.00. Following the transaction, the chief operating officer directly owned 73,500 shares in the company, valued at $246,225. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sam Levinson bought 9,317 shares of the firm’s stock in a transaction that occurred on Thursday, September 24th. The shares were acquired at an average price of $3.38 per share, with a total value of $31,491.46. Following the purchase, the director owned 411,021 shares in the company, valued at $1,389,250.98. This trade represents a 2.32% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 484,521 shares of company stock worth $1,567,874. Corporate insiders own 54.59% of the company’s stock.

Hedge Funds Weigh In On Clipper Realty

Several institutional investors and hedge funds have recently made changes to their positions in the company. Equitable Holdings Inc. acquired a new stake in shares of Clipper Realty in the second quarter valued at approximately $58,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Clipper Realty in the second quarter valued at approximately $412,000. BlackRock Inc. bought a new stake in Clipper Realty during the 2nd quarter worth approximately $297,000. Bank of New York Mellon Corp bought a new position in Clipper Realty in the 2nd quarter valued at $31,000. Finally, GSA Capital Partners LLP purchased a new stake in Clipper Realty in the second quarter worth $254,000. Institutional investors and hedge funds own 37.57% of the company’s stock.

About Clipper Realty

Clipper Realty Inc (NYSE: CLPR) is a self-administered real estate company focused on owning, operating and developing multifamily residential properties in New York City. Its portfolio is concentrated primarily in the Manhattan and Brooklyn markets.

The company’s properties provide rental housing across a range of locations and building types, from apartment communities in established residential neighborhoods to larger multifamily developments. Clipper Realty’s activities include property management, leasing, capital improvements and redevelopment intended to maintain and enhance its residential portfolio.

Clipper Realty was formed in 2015 through the combination of real estate businesses and became a publicly traded company in 2017.