Clipper Realty (NYSE:CLPR) Shares Cross Above 50-Day Moving Average - Time to Sell?

Key Points

• Shares rose above the 50-day moving average, trading as high as $3.42 before last changing hands at $3.336; the 50-day and 200-day averages were $3.24 and $3.17, respectively.
• Clipper Realty reported a quarterly loss of $0.18 per share, missing the $0.07 consensus estimate, while revenue of $40.48 million topped expectations of $38.70 million.
• The company declared a quarterly dividend of $0.095 per share, equivalent to an 11.4% annualized yield. Insiders also bought 333,702 shares worth about $1.09 million over the prior 90 days.

Clipper Realty Inc. (NYSE:CLPR - Get Free Report) passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $3.24 and traded as high as $3.42. Clipper Realty shares last traded at $3.3360, with a volume of 25,931 shares.

Clipper Realty Price Performance

The stock has a market capitalization of $53.91 million, a P/E ratio of -3.44 and a beta of 0.99. The stock's fifty day moving average price is $3.24 and its 200 day moving average price is $3.17.

Clipper Realty (NYSE:CLPR - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.25). The company had revenue of $40.48 million for the quarter, compared to the consensus estimate of $38.70 million. On average, sell-side analysts expect that Clipper Realty Inc. will post 0.17 earnings per share for the current year.

Clipper Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Tuesday, November 17th will be given a dividend of $0.0950 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 11.4%. Clipper Realty's dividend payout ratio (DPR) is -39.18%.

Insider Activity at Clipper Realty

In related news, Director Sam Levinson purchased 9,317 shares of the firm's stock in a transaction dated Thursday, September 24th. The stock was purchased at an average price of $3.38 per share, with a total value of $31,491.46. Following the completion of the purchase, the director owned 411,021 shares of the company's stock, valued at approximately $1,389,250.98. The trade was a 2.32% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jacob Bistricer purchased 73,500 shares of the stock in a transaction that occurred on Monday, September 28th. The stock was purchased at an average price of $3.35 per share, with a total value of $246,225.00. Following the acquisition, the chief operating officer directly owned 73,500 shares of the company's stock, valued at $246,225. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 333,702 shares of company stock valued at $1,092,045 in the last ninety days. Insiders own 54.59% of the company's stock.

Institutional Investors Weigh In On Clipper Realty

A number of institutional investors and hedge funds have recently bought and sold shares of CLPR. Equitable Holdings Inc. purchased a new stake in shares of Clipper Realty in the 2nd quarter worth $58,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Clipper Realty during the second quarter valued at $412,000. BlackRock Inc. purchased a new position in shares of Clipper Realty during the second quarter valued at $297,000. Bank of New York Mellon Corp purchased a new position in shares of Clipper Realty during the second quarter valued at $31,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Clipper Realty by 209.3% in the third quarter. Russell Investments Group Ltd. now owns 71,634 shares of the company's stock valued at $226,000 after acquiring an additional 48,471 shares in the last quarter. 37.57% of the stock is owned by institutional investors.

About Clipper Realty

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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