Clipper Realty Inc. (NASDAQ:CLPR) Declares $0.10 Quarterly Dividend

Clipper Realty Inc. (NASDAQ:CLPR) announced a quarterly dividend on Friday, October 27th, Wall Street Journal reports. Stockholders of record on Monday, November 6th will be paid a dividend of 0.095 per share on Monday, November 13th. This represents a $0.38 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, November 3rd.

Shares of Clipper Realty (NASDAQ:CLPR) traded down $0.05 on Friday, hitting $11.00. The stock had a trading volume of 40,800 shares, compared to its average volume of 79,399. Clipper Realty has a 12 month low of $9.98 and a 12 month high of $15.00.

Several analysts have recently commented on the company. Zacks Investment Research upgraded Clipper Realty from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. JMP Securities initiated coverage on Clipper Realty in a research note on Monday, October 9th. They set an “outperform” rating and a $17.00 price target for the company. B. Riley reiterated a “buy” rating on shares of Clipper Realty in a research note on Wednesday, November 1st. Finally, FBR & Co reiterated a “buy” rating and set a $16.00 price target on shares of Clipper Realty in a research note on Friday, October 27th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Clipper Realty presently has a consensus rating of “Buy” and a consensus target price of $16.00.

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In other Clipper Realty news, Director Sam Levinson bought 15,000 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were purchased at an average price of $10.72 per share, for a total transaction of $160,800.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Several large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company bought a new stake in shares of Clipper Realty in the 2nd quarter worth approximately $180,000. California State Teachers Retirement System raised its holdings in shares of Clipper Realty by 132.5% in the 2nd quarter. California State Teachers Retirement System now owns 26,500 shares of the company’s stock worth $327,000 after purchasing an additional 15,100 shares during the period. Northern Trust Corp raised its holdings in shares of Clipper Realty by 374.0% in the 2nd quarter. Northern Trust Corp now owns 58,270 shares of the company’s stock worth $719,000 after purchasing an additional 45,976 shares during the period. Finally, State Street Corp raised its holdings in shares of Clipper Realty by 410.5% in the 2nd quarter. State Street Corp now owns 158,246 shares of the company’s stock worth $1,952,000 after purchasing an additional 127,246 shares during the period.

About Clipper Realty

Clipper Realty, Inc is a real estate investment trust, which acquires, owns, manages, operates and repositions multi-family residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn. The Company’s segments include Commercial and Residential. As of June 30, 2016, it owned two residential/retail rental properties at 50 Murray Street and 53 Park Place in the Tribeca neighborhood of Manhattan, referred to as the Tribeca House properties.

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