Clipper Realty Inc (NYSE:CLPR) has earned an average broker rating score of 1.33 (Strong Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy rating and two have issued a strong buy rating on the company.
Brokers have set a 1 year consensus target price of $15.67 for the company and are expecting that the company will post $0.11 EPS for the current quarter, according to Zacks. Zacks has also given Clipper Realty an industry rank of 233 out of 265 based on the ratings given to related companies.
CLPR has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Clipper Realty from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Wednesday, November 29th. B. Riley set a $16.00 price objective on shares of Clipper Realty and gave the stock a “buy” rating in a report on Friday, January 19th. Finally, Raymond James Financial restated a “buy” rating and issued a $14.00 price objective on shares of Clipper Realty in a report on Monday, December 4th.
Several hedge funds have recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. purchased a new position in shares of Clipper Realty during the third quarter valued at approximately $114,000. Citadel Advisors LLC purchased a new position in shares of Clipper Realty during the fourth quarter valued at approximately $115,000. BlackRock Inc. lifted its holdings in shares of Clipper Realty by 1.6% during the fourth quarter. BlackRock Inc. now owns 726,480 shares of the company’s stock valued at $7,259,000 after purchasing an additional 11,667 shares during the last quarter. TCW Group Inc. lifted its holdings in shares of Clipper Realty by 20.6% during the fourth quarter. TCW Group Inc. now owns 68,954 shares of the company’s stock valued at $689,000 after purchasing an additional 11,795 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Clipper Realty during the third quarter valued at approximately $143,000. Hedge funds and other institutional investors own 56.76% of the company’s stock.
Shares of Clipper Realty stock opened at $8.45 on Monday. Clipper Realty has a 1-year low of $7.64 and a 1-year high of $13.56. The company has a market cap of $157.46 and a PE ratio of -57.00.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 22nd will be issued a dividend of $0.095 per share. The ex-dividend date of this dividend is Wednesday, March 21st. This represents a $0.38 annualized dividend and a dividend yield of 4.50%. Clipper Realty’s payout ratio is -253.33%.
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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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