Clipper Realty (NYSE:CLPR) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Clipper Realty (NYSE:CLPR) from a hold rating to a sell rating in a research note released on Monday morning.

Clipper Realty Stock Up 3.6%

Shares of Clipper Realty stock opened at $4.08 on Monday. Clipper Realty has a twelve month low of $3.39 and a twelve month high of $7.12. The company’s 50 day moving average is $3.80 and its 200 day moving average is $3.93. The company has a market cap of $65.89 million, a price-to-earnings ratio of -3.96 and a beta of 1.06.

Clipper Realty (NYSE:CLPR) last announced its earnings results on Thursday, August 7th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. The company had revenue of $39.04 million for the quarter, compared to analysts’ expectations of $39.10 million. Sell-side analysts expect that Clipper Realty will post 0.39 EPS for the current fiscal year.

Clipper Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Thursday, August 21st will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 9.3%. The ex-dividend date of this dividend is Thursday, August 21st. Clipper Realty’s dividend payout ratio (DPR) is presently -36.89%.

Hedge Funds Weigh In On Clipper Realty

A number of institutional investors and hedge funds have recently made changes to their positions in CLPR. Jane Street Group LLC grew its position in Clipper Realty by 757.8% during the fourth quarter. Jane Street Group LLC now owns 90,796 shares of the company’s stock valued at $416,000 after buying an additional 80,211 shares during the period. Invesco Ltd. purchased a new position in shares of Clipper Realty during the 4th quarter worth $6,776,000. Two Sigma Investments LP bought a new stake in shares of Clipper Realty during the 4th quarter valued at $103,000. Cerity Partners LLC increased its stake in shares of Clipper Realty by 241.6% in the 4th quarter. Cerity Partners LLC now owns 90,443 shares of the company’s stock worth $428,000 after purchasing an additional 63,968 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Clipper Realty by 24.2% in the 4th quarter. Northern Trust Corp now owns 137,054 shares of the company’s stock worth $628,000 after purchasing an additional 26,723 shares during the period. Hedge funds and other institutional investors own 37.57% of the company’s stock.

Clipper Realty Company Profile

Clipper Realty Inc (NYSE: CLPR) is a self-administered and self-managed real estate company that acquires, owns, manages, operates, and repositions multifamily residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn.