Equities analysts forecast that Clipper Realty Inc. (NYSE:CLPR) will announce $0.10 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Clipper Realty’s earnings, with the highest EPS estimate coming in at $0.10 and the lowest estimate coming in at $0.09. Clipper Realty reported earnings per share of ($0.09) in the same quarter last year, which would indicate a positive year-over-year growth rate of 211.1%. The business is scheduled to announce its next earnings results on Thursday, March 29th.
According to Zacks, analysts expect that Clipper Realty will report full-year earnings of $0.38 per share for the current fiscal year, with EPS estimates ranging from $0.37 to $0.38. For the next fiscal year, analysts anticipate that the business will report earnings of $0.42 per share, with EPS estimates ranging from $0.41 to $0.43. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that follow Clipper Realty.
A number of equities analysts have recently issued reports on the company. B. Riley restated a “buy” rating on shares of Clipper Realty in a research report on Wednesday, November 1st. Zacks Investment Research downgraded Clipper Realty from a “buy” rating to a “sell” rating in a report on Monday, August 14th. Raymond James Financial reiterated a “buy” rating and issued a $14.00 target price on shares of Clipper Realty in a report on Monday, December 4th. JMP Securities initiated coverage on Clipper Realty in a report on Monday, October 9th. They issued an “outperform” rating and a $17.00 target price for the company. Finally, FBR & Co reiterated a “buy” rating and issued a $16.00 target price on shares of Clipper Realty in a report on Friday, October 27th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $14.75.
In other Clipper Realty news, Director Sam Levinson bought 15,000 shares of the stock in a transaction on Monday, November 6th. The stock was acquired at an average cost of $10.72 per share, for a total transaction of $160,800.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Institutional investors have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. acquired a new stake in Clipper Realty in the third quarter valued at approximately $114,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Clipper Realty in the third quarter valued at approximately $143,000. The Manufacturers Life Insurance Company acquired a new stake in Clipper Realty in the second quarter valued at approximately $180,000. Teachers Insurance & Annuity Association of America acquired a new stake in Clipper Realty in the second quarter valued at approximately $189,000. Finally, New York State Common Retirement Fund acquired a new stake in Clipper Realty in the second quarter valued at approximately $196,000. 57.08% of the stock is owned by hedge funds and other institutional investors.
Shares of Clipper Realty (CLPR) traded up $0.14 on Friday, hitting $10.04. The stock had a trading volume of 41,473 shares, compared to its average volume of 50,134. Clipper Realty has a 52 week low of $9.43 and a 52 week high of $15.00. The company has a market capitalization of $178.84 and a P/E ratio of 28.69.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Monday, November 6th were issued a $0.095 dividend. The ex-dividend date was Friday, November 3rd. This represents a $0.38 dividend on an annualized basis and a yield of 3.78%. Clipper Realty’s payout ratio is currently -189.99%.
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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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