Clipper Realty (NYSE:CLPR) Downgraded to "Hold" Rating by Zacks Research

Key Points

• Clipper Realty has been downgraded by Zacks Research from a "strong-buy" to a "hold" rating, reflecting concerns about its stock performance.
• The stock price of Clipper Realty decreased by 2.6% to $4.34, with a reported market cap of $70.01 million and a PE ratio of -4.21.
• CEO David Bistricer acquired 8,174 shares of Clipper Realty at an average price of $4.01, representing a significant increase in his ownership of the company's stock.

Clipper Realty (NYSE:CLPR - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Separately, Wall Street Zen cut Clipper Realty from a "hold" rating to a "sell" rating in a report on Monday, August 18th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Clipper Realty has an average rating of "Hold".

Clipper Realty Stock Down 2.6%

Shares of CLPR stock opened at $4.34 on Tuesday. The stock has a 50 day moving average of $3.96 and a 200-day moving average of $3.95. The firm has a market cap of $70.01 million, a PE ratio of -4.21 and a beta of 1.10. Clipper Realty has a 12 month low of $3.39 and a 12 month high of $7.12.

Clipper Realty (NYSE:CLPR - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.07. The firm had revenue of $39.04 million during the quarter, compared to analyst estimates of $39.10 million. As a group, equities analysts predict that Clipper Realty will post 0.39 EPS for the current fiscal year.

Insider Transactions at Clipper Realty

In related news, CEO David Bistricer bought 8,174 shares of Clipper Realty stock in a transaction on Thursday, August 21st. The shares were purchased at an average price of $4.01 per share, for a total transaction of $32,777.74. Following the completion of the acquisition, the chief executive officer owned 8,174 shares in the company, valued at approximately $32,777.74. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 53.01% of the company's stock.

Institutional Investors Weigh In On Clipper Realty

A number of hedge funds have recently modified their holdings of CLPR. Jane Street Group LLC raised its position in Clipper Realty by 757.8% in the 4th quarter. Jane Street Group LLC now owns 90,796 shares of the company's stock valued at $416,000 after buying an additional 80,211 shares during the last quarter. Russell Investments Group Ltd. raised its position in Clipper Realty by 35.5% in the 1st quarter. Russell Investments Group Ltd. now owns 11,194 shares of the company's stock valued at $43,000 after buying an additional 2,930 shares during the last quarter. Two Sigma Investments LP acquired a new stake in Clipper Realty in the 4th quarter valued at approximately $103,000. Northern Trust Corp raised its position in Clipper Realty by 24.2% in the 4th quarter. Northern Trust Corp now owns 137,054 shares of the company's stock valued at $628,000 after buying an additional 26,723 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in Clipper Realty in the 4th quarter valued at approximately $87,000. 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 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.

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