Clipper Realty (NYSE:CLPR) Issues Quarterly Earnings Results

Key Points

• Clipper Realty reported a quarterly loss of $0.18 per share, missing the $0.07 consensus estimate by $0.25. Revenue was $40.48 million, above analysts’ $38.70 million forecast.
• The company paid a quarterly dividend of $0.095 per share, equivalent to $0.38 annually and an 11.4% yield.
• Insiders purchased 484,521 shares worth about $1.57 million over the last quarter; insiders own 54.59% of the company.

Clipper Realty (NYSE:CLPR - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.25), FiscalAI reports. The business had revenue of $40.48 million during the quarter, compared to analyst estimates of $38.70 million.

Clipper Realty Trading Down 0.4%

NYSE CLPR traded down $0.01 during mid-day trading on Wednesday, hitting $3.35. The company's stock had a trading volume of 15,353 shares, compared to its average volume of 73,931. The company's 50 day simple moving average is $3.25 and its 200 day simple moving average is $3.18. Clipper Realty has a twelve month low of $2.69 and a twelve month high of $3.94. The firm has a market capitalization of $54.06 million, a price-to-earnings ratio of -3.60 and a beta of 0.99.

Clipper Realty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Tuesday, August 18th were issued a $0.0950 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 11.4%. The ex-dividend date was Tuesday, August 18th. Clipper Realty's dividend payout ratio (DPR) is currently -40.86%.

Insider Transactions at Clipper Realty

In other Clipper Realty news, Director Sam Levinson bought 110,710 shares of the firm's stock in a transaction dated Wednesday, September 9th. The stock was bought at an average cost of $3.31 per share, with a total value of $366,450.10. Following the completion of the transaction, the director directly owned 379,014 shares in the company, valued at approximately $1,254,536.34. The trade was a 41.26% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Jacob Bistricer bought 73,500 shares of the firm's stock in a transaction dated Monday, September 28th. The shares were acquired at an average cost of $3.35 per share, with a total value of $246,225.00. Following the completion of the transaction, the chief operating officer owned 73,500 shares of the company's stock, valued at $246,225. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 484,521 shares of company stock valued at $1,567,874 over the last quarter. Corporate insiders own 54.59% of the company's stock.

Clipper Realty Company Profile

Clipper Realty Inc is a self-administered and self-managed real estate investment trust that owns, operates and develops multifamily residential properties in New York City. The company focuses primarily on apartment communities in Manhattan and Brooklyn, serving residents through rental housing and related property-management services.

Clipper Realty's business includes acquiring well-located residential properties, managing day-to-day operations, maintaining buildings and apartments, and pursuing renovations or other improvements intended to enhance its properties.

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