Clipper Realty (NYSE:CLPR) Stock Price Up 1.8% - Here's What Happened

Key Points

• Clipper Realty shares rose 1.8% to about $3.17 in mid-day trading, despite trading volume running 22% below its average.
• The company paid a quarterly dividend of $0.095 per share, equivalent to an annualized $0.38 payout and a 12.0% dividend yield.
• Insiders purchased 484,521 shares worth approximately $1.57 million over the past quarter, while institutional investors—including BlackRock—also established new positions.

Clipper Realty Inc. (NYSE:CLPR - Get Free Report)'s share price traded up 1.8% during mid-day trading on Wednesday. The company traded as high as $3.18 and last traded at $3.1650. Approximately 30,486 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 39,079 shares. The stock had previously closed at $3.11.

Clipper Realty Stock Performance

The company's 50-day moving average is $3.26 and its 200-day moving average is $3.13. The firm has a market cap of $51.15 million, a price-to-earnings ratio of -3.40 and a beta of 1.00.

Clipper Realty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Tuesday, August 18th were paid a $0.0950 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 12.0%. Clipper Realty's payout ratio is currently -40.86%.

Insider Buying and Selling

In related news, Director Sam Levinson purchased 110,710 shares of the firm's stock in a transaction dated Wednesday, September 9th. The shares were acquired at an average cost of $3.31 per share, with a total value of $366,450.10. Following the completion of the purchase, the director directly owned 379,014 shares of the company's stock, valued at $1,254,536.34. This trade represents a 41.26% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jacob Bistricer purchased 73,500 shares of the firm's stock in a transaction dated Monday, September 28th. The shares were bought at an average cost of $3.35 per share, for a total transaction of $246,225.00. Following the completion of the purchase, the chief operating officer directly owned 73,500 shares of the company's stock, valued at $246,225. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 484,521 shares of company stock worth $1,567,874 over the last quarter. 54.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Clipper Realty in the 2nd quarter valued at $412,000. BlackRock Inc. bought a new stake in shares of Clipper Realty during the second quarter worth $297,000. Bank of New York Mellon Corp bought a new stake in shares of Clipper Realty during the second quarter worth $31,000. Equitable Holdings Inc. bought a new stake in shares of Clipper Realty during the second quarter worth $58,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Clipper Realty during the second quarter valued at $254,000. Institutional investors own 37.57% of the company's stock.

About Clipper Realty

Clipper Realty Inc NYSE: CLPR is a self-administered real estate company focused on owning, operating and developing multifamily residential properties in New York City. Its portfolio is concentrated primarily in the Manhattan and Brooklyn markets.

The company's properties provide rental housing across a range of locations and building types, from apartment communities in established residential neighborhoods to larger multifamily developments. Clipper Realty's activities include property management, leasing, capital improvements and redevelopment intended to maintain and enhance its residential portfolio.

Clipper Realty was formed in 2015 through the combination of real estate businesses and became a publicly traded company in 2017.

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