Brokerages forecast that Clipper Realty Inc. (NYSE:CLPR) will post $26.41 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Clipper Realty’s earnings, with the lowest sales estimate coming in at $26.31 million and the highest estimate coming in at $26.50 million. Clipper Realty posted sales of $24.24 million in the same quarter last year, which suggests a positive year over year growth rate of 9%. The business is scheduled to issue its next earnings report on Thursday, March 29th.
On average, analysts expect that Clipper Realty will report full-year sales of $26.41 million for the current year, with estimates ranging from $102.94 million to $103.20 million. For the next year, analysts forecast that the business will report sales of $110.77 million per share, with estimates ranging from $109.94 million to $111.60 million. Zacks’ sales calculations are an average based on a survey of analysts that cover Clipper Realty.
A number of research firms recently issued reports on CLPR. B. Riley reissued a “buy” rating on shares of Clipper Realty in a research note on Wednesday, November 1st. FBR & Co reissued a “buy” rating and set a $16.00 target price on shares of Clipper Realty in a research note on Friday, October 27th. Zacks Investment Research raised Clipper Realty from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Wednesday, November 29th. Raymond James Financial reissued a “buy” rating and set a $14.00 target price on shares of Clipper Realty in a research note on Monday, December 4th. Finally, JMP Securities began coverage on Clipper Realty in a research note on Monday, October 9th. They set an “outperform” rating and a $17.00 target price for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Clipper Realty currently has a consensus rating of “Buy” and a consensus target price of $14.75.
Shares of Clipper Realty (NYSE CLPR) opened at $9.87 on Friday. The company has a market capitalization of $176.35 and a PE ratio of -49.35. Clipper Realty has a 52 week low of $9.43 and a 52 week high of $15.00.
In other news, Director Sam Levinson purchased 10,000 shares of Clipper Realty stock in a transaction on Tuesday, November 14th. The stock was purchased at an average price of $9.83 per share, with a total value of $98,300.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Clipper Realty by 2,540.3% in the 2nd quarter. Vanguard Group Inc. now owns 320,236 shares of the company’s stock valued at $3,952,000 after buying an additional 308,107 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Clipper Realty in the 2nd quarter valued at approximately $3,233,000. State Street Corp boosted 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 valued at $1,952,000 after buying an additional 127,246 shares during the last quarter. Northern Trust Corp boosted 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 valued at $719,000 after buying an additional 45,976 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in shares of Clipper Realty in the 3rd quarter valued at approximately $429,000. 57.08% of the stock is owned by hedge funds and other institutional investors.
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Clipper Realty Company Profile
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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