Clipper Realty (NYSE:CLPR) Stock Price Up 5.9% - Here's Why

Shares of Clipper Realty Inc. (NYSE:CLPR - Get Free Report) shot up 5.9% during trading on Monday . The stock traded as high as $3.86 and last traded at $3.84. 88,709 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 119,895 shares. The stock had previously closed at $3.63.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Clipper Realty from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

Clipper Realty Stock Up 6.0%

The company's 50 day moving average is $3.88 and its 200 day moving average is $3.99. The firm has a market capitalization of $65.57 million, a price-to-earnings ratio of -3.96 and a beta of 0.99.

Clipper Realty (NYSE:CLPR - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. The business had revenue of $39.40 million during the quarter, compared to analyst estimates of $40.40 million. On average, analysts expect that Clipper Realty Inc. will post 0.39 EPS for the current year.

Clipper Realty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Tuesday, May 27th were paid a $0.095 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $0.38 annualized dividend and a dividend yield of 9.36%. Clipper Realty's dividend payout ratio (DPR) is presently -37.25%.

Hedge Funds Weigh In On Clipper Realty

Several institutional investors and hedge funds have recently modified their holdings of CLPR. Russell Investments Group Ltd. lifted its position in Clipper Realty by 35.5% during the first quarter. Russell Investments Group Ltd. now owns 11,194 shares of the company's stock worth $43,000 after purchasing an additional 2,930 shares during the period. XTX Topco Ltd bought a new stake in Clipper Realty during the first quarter worth about $82,000. Balyasny Asset Management L.P. bought a new stake in Clipper Realty during the fourth quarter worth about $87,000. AQR Capital Management LLC lifted 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 period. Finally, Nuveen LLC bought a new stake in Clipper Realty during the first quarter worth about $98,000. 37.57% of the stock is currently owned by institutional investors and hedge funds.

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.