Clipper Realty (NYSE:CLPR) Stock Price Up 3.9% - Here's What Happened

Key Points

• Clipper Realty's stock price rose by 3.9% to $4.17 on Monday, with a trading volume of 67,560 shares, indicating increased investor interest.
• The company recently downgraded its ratings, with Wall Street Zen changing from "hold" to "sell" and Zacks Research lowering from "strong-buy" to "hold."
• Clipper Realty announced a quarterly dividend of $0.095 per share, providing a 9.1% yield, despite a payout ratio of -36.89%.

Clipper Realty Inc. (NYSE:CLPR - Get Free Report) shares were up 3.9% on Monday . The company traded as high as $4.32 and last traded at $4.17. Approximately 67,560 shares traded hands during trading, an increase of 12% from the average daily volume of 60,574 shares. The stock had previously closed at $4.01.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CLPR shares. Wall Street Zen downgraded shares of Clipper Realty from a "hold" rating to a "sell" rating in a research report on Monday, August 18th. Zacks Research lowered Clipper Realty from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 9th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of "Hold".

Clipper Realty Price Performance

The firm has a market cap of $67.28 million, a PE ratio of -4.04 and a beta of 1.05. The business's fifty day moving average is $4.12 and its 200-day moving average is $3.91.

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

Clipper Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Thursday, August 21st were paid a $0.095 dividend. The ex-dividend date was Thursday, August 21st. This represents a $0.38 annualized dividend and a dividend yield of 9.1%. Clipper Realty's payout ratio is presently -36.89%.

Insider Activity at Clipper Realty

In other news, CEO David Bistricer purchased 8,174 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was bought at an average price of $4.01 per share, for a total transaction of $32,777.74. Following the purchase, the chief executive officer owned 8,174 shares of the company's stock, valued at $32,777.74. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 53.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Clipper Realty

Large investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. purchased a new position in shares of Clipper Realty in the second quarter valued at $70,000. Geode Capital Management LLC grew its holdings in Clipper Realty by 9.3% during the 2nd quarter. Geode Capital Management LLC now owns 333,970 shares of the company's stock valued at $1,226,000 after buying an additional 28,385 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Clipper Realty by 28.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 127,137 shares of the company's stock valued at $467,000 after buying an additional 27,908 shares during the period. Penserra Capital Management LLC purchased a new stake in shares of Clipper Realty in the second quarter worth about $955,000. Finally, Brookwood Investment Group LLC lifted its holdings in shares of Clipper Realty by 38.6% in the second quarter. Brookwood Investment Group LLC now owns 74,582 shares of the company's stock worth $274,000 after buying an additional 20,762 shares in the last quarter. 37.57% of the stock is owned by institutional investors.

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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