Clipper Realty Inc. Announces Quarterly Dividend of $0.10 (NYSE:CLPR)

Key Points

• Clipper Realty Inc. declared a quarterly dividend of $0.10 per share, with the ex-dividend date set for August 21st, and payments scheduled for September 5th, translating to a 9.5% dividend yield.
• During mid-day trading, Clipper Realty's shares increased by 14.2%, reaching a price of $4.02, with a market cap of $64.92 million and a price-to-earnings ratio of -3.94.
• The company recently reported earnings of $0.20 per share for the quarter, surpassing analyst expectations of $0.13, despite revenue slightly missing estimates at $39.04 million.

Clipper Realty Inc. (NYSE:CLPR - Get Free Report) announced a quarterly dividend on Friday, August 8th, Wall Street Journal reports. Shareholders of record on Thursday, August 21st will be paid a dividend of 0.095 per share on Friday, September 5th. This represents a c) dividend on an annualized basis and a yield of 9.3%. The ex-dividend date is Thursday, August 21st.

Clipper Realty Price Performance

Shares of NYSE:CLPR traded up $0.01 during trading on Wednesday, hitting $4.09. 8,438 shares of the company's stock were exchanged, compared to its average volume of 111,789. Clipper Realty has a 52-week low of $3.39 and a 52-week high of $7.12. The business's 50-day simple moving average is $3.79 and its 200 day simple moving average is $3.94. The company has a market cap of $66.06 million, a price-to-earnings ratio of -3.97 and a beta of 1.06.

Clipper Realty (NYSE:CLPR - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.07. The firm had revenue of $39.04 million for the quarter, compared to analysts' expectations of $39.10 million. On average, sell-side analysts anticipate that Clipper Realty will post 0.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its stake in Clipper Realty by 35.5% during the 1st quarter. Russell Investments Group Ltd. now owns 11,194 shares of the company's stock worth $43,000 after buying an additional 2,930 shares during the last quarter. XTX Topco Ltd acquired a new position in Clipper Realty in the 1st quarter worth about $82,000. Balyasny Asset Management L.P. acquired a new position in Clipper Realty in the 4th quarter worth about $87,000. AQR Capital Management LLC raised its holdings in Clipper Realty by 12.3% in the 1st quarter. AQR Capital Management LLC now owns 22,698 shares of the company's stock worth $87,000 after purchasing an additional 2,491 shares during the period. Finally, Nuveen LLC acquired a new position in Clipper Realty in the 1st quarter worth about $98,000. 37.57% of the stock is currently owned by hedge funds and other institutional investors.

Clipper Realty Company Profile

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.