Sam Levinson Acquires 81,647 Shares of Clipper Realty (NYSE:CLPR) Stock

Key Points

• Director Sam Levinson purchased 81,647 Clipper Realty shares at an average price of $3.21, investing approximately $262,087 and increasing his ownership by 118% to 150,819 shares. He also bought 73,117 additional shares in two nearby transactions.
• Clipper Realty shares rose 1.3% to $3.32, while the company reported a quarterly loss of $0.30 per share, missing analysts’ $0.09 estimate; revenue also fell short of expectations.
• The company announced a quarterly dividend of $0.095 per share, representing an annualized yield of about 11.4%. Analysts maintain a consensus “Hold” rating, while Wall Street Zen downgraded the stock to “Sell.”

Clipper Realty Inc. (NYSE:CLPR - Get Free Report) Director Sam Levinson purchased 81,647 shares of the stock in a transaction dated Thursday, August 13th. The stock was bought at an average cost of $3.21 per share, with a total value of $262,086.87. Following the completion of the purchase, the director owned 150,819 shares in the company, valued at $484,128.99. The trade was a 118.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Sam Levinson also recently made the following trade(s):

• On Friday, August 14th, Sam Levinson purchased 3,945 shares of Clipper Realty stock. The stock was purchased at an average price of $3.29 per share, for a total transaction of $12,979.05.
• On Wednesday, August 12th, Sam Levinson acquired 69,172 shares of Clipper Realty stock. The shares were purchased at an average cost of $3.09 per share, for a total transaction of $213,741.48.

Clipper Realty Stock Up 1.3%

NYSE CLPR traded up $0.04 during trading on Friday, reaching $3.32. 80,381 shares of the stock traded hands, compared to its average volume of 83,300. The firm has a market cap of $53.67 million, a price-to-earnings ratio of -3.57 and a beta of 0.97. The stock's 50-day moving average price is $2.96 and its 200 day moving average price is $3.13. Clipper Realty Inc. has a fifty-two week low of $2.69 and a fifty-two week high of $4.61.

Clipper Realty (NYSE:CLPR - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.39). The business had revenue of $38.12 million for the quarter, compared to analysts' expectations of $39.60 million. Analysts anticipate that Clipper Realty Inc. will post 0.26 EPS for the current fiscal year.

Clipper Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Tuesday, August 18th will be paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 11.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Clipper Realty's payout ratio is presently -40.86%.

Institutional Trading of Clipper Realty

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp bought a new stake in shares of Clipper Realty in the second quarter valued at about $31,000. Virtu Financial LLC acquired a new stake in Clipper Realty in the 4th quarter valued at approximately $42,000. Russell Investments Group Ltd. raised its position in Clipper Realty by 161.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 12,673 shares of the company's stock valued at $48,000 after buying an additional 7,824 shares during the last quarter. Abel Hall LLC bought a new stake in Clipper Realty in the 3rd quarter valued at approximately $52,000. Finally, Wells Fargo & Company MN lifted its stake in Clipper Realty by 48.0% in the 4th quarter. Wells Fargo & Company MN now owns 15,485 shares of the company's stock valued at $59,000 after acquiring an additional 5,023 shares in the last quarter. Institutional investors and hedge funds own 37.57% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Clipper Realty from a "hold" rating to a "sell" rating in a report on Sunday, May 31st. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold".

About Clipper Realty

Clipper Realty Inc is a publicly traded real estate investment trust that acquires, owns and manages multifamily residential and mixed‐use properties in the Greater New York metropolitan area. Since its initial public offering in early 2017, the company has focused on strategically sourcing apartment buildings and retail space in Manhattan and Brooklyn, with an emphasis on value‐add opportunities that can benefit from in‐house leasing, renovation and operational efficiencies.

The company's primary activities include property acquisition, selective repositioning and asset management.

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