Clipper Realty (NYSE:CLPR) Director Buys $213,741.48 in Stock

Key Points

• Director Sam Levinson purchased 69,172 Clipper Realty shares for $213,741.48 at an average price of $3.09, following additional purchases of roughly $275,000 earlier in the week.
• Clipper Realty shares rose 1.3% to $3.32, while the company reported a quarterly EPS loss of $0.30 and revenue of $38.12 million, missing analyst expectations.
• The company declared a quarterly dividend of $0.095 per share, implying an annualized yield of 11.4%; however, Wall Street Zen downgraded the stock to “sell,” while the broader analyst consensus remains “hold.”

Clipper Realty Inc. (NYSE:CLPR - Get Free Report) Director Sam Levinson purchased 69,172 shares of the firm's stock in a transaction on Wednesday, August 12th. The shares were purchased at an average cost of $3.09 per share, for a total transaction of $213,741.48. Following the completion of the purchase, the director directly owned 69,172 shares in the company, valued at $213,741.48. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Friday, August 14th, Sam Levinson purchased 3,945 shares of Clipper Realty stock. The shares were purchased at an average price of $3.29 per share, with a total value of $12,979.05.
• On Thursday, August 13th, Sam Levinson acquired 81,647 shares of Clipper Realty stock. The stock was purchased at an average cost of $3.21 per share, with a total value of $262,086.87.

Clipper Realty Stock Up 1.3%

Shares of NYSE:CLPR traded up $0.04 during trading on Friday, reaching $3.32. The stock had a trading volume of 80,381 shares, compared to its average volume of 83,300. The stock has a market cap of $53.67 million, a P/E ratio of -3.57 and a beta of 0.97. The business has a fifty day moving average price of $2.96 and a 200-day moving average price of $3.13. Clipper Realty Inc. has a fifty-two week low of $2.69 and a fifty-two week high of $4.61.

Clipper Realty (NYSE:CLPR - Get Free Report) last announced its earnings results on Thursday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.39). The company had revenue of $38.12 million for the quarter, compared to analysts' expectations of $39.60 million. As a group, equities analysts forecast that Clipper Realty Inc. will post 0.26 EPS for the current year.

Clipper Realty Dividend Announcement

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 paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 11.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Clipper Realty's dividend payout ratio is currently -40.86%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CLPR. Cubist Systematic Strategies LLC acquired a new stake in shares of Clipper Realty in the first quarter worth approximately $193,000. AQR Capital Management LLC increased its position in Clipper Realty by 12.3% during the first 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 last quarter. Goldman Sachs Group Inc. raised its stake in Clipper Realty by 25.4% during the first quarter. Goldman Sachs Group Inc. now owns 97,027 shares of the company's stock worth $373,000 after purchasing an additional 19,640 shares during the period. Jane Street Group LLC raised its stake in Clipper Realty by 56.4% during the first quarter. Jane Street Group LLC now owns 142,027 shares of the company's stock worth $545,000 after purchasing an additional 51,231 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Clipper Realty by 9.3% in the 2nd quarter. Geode Capital Management LLC now owns 333,970 shares of the company's stock valued at $1,226,000 after purchasing an additional 28,385 shares during the last quarter. 37.57% of the stock is currently 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.

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