Clipper Realty (NYSE:CLPR) Releases Earnings Results, Misses Estimates By $0.39 EPS

Clipper Realty (NYSE:CLPR) issued its earnings results on Thursday. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.39), FiscalAI reports. The firm had revenue of $38.12 million for the quarter, compared to analyst estimates of $39.60 million.

Clipper Realty Stock Up 0.9%

CLPR stock traded up $0.03 during trading on Thursday, hitting $3.04. 49,199 shares of the company’s stock traded hands, compared to its average volume of 67,542. The firm has a market capitalization of $49.06 million, a P/E ratio of -2.22 and a beta of 0.98. The business has a fifty day simple moving average of $3.17 and a two-hundred day simple moving average of $3.44. Clipper Realty has a 1 year low of $2.83 and a 1 year high of $4.61.

Clipper Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, March 12th were issued a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 12.5%. The ex-dividend date of this dividend was Thursday, March 12th. Clipper Realty’s dividend payout ratio (DPR) is presently -27.74%.

Hedge Funds Weigh In On Clipper Realty

Several institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC increased its holdings in Clipper Realty by 12.3% during the first quarter. AQR Capital Management LLC now owns 22,698 shares of the company’s stock valued at $87,000 after buying an additional 2,491 shares during the period. Dimensional Fund Advisors LP increased its holdings in Clipper Realty by 3.1% during the third quarter. Dimensional Fund Advisors LP now owns 147,119 shares of the company’s stock valued at $559,000 after buying an additional 4,375 shares during the period. Wells Fargo & Company MN increased its holdings in Clipper Realty by 48.0% during the fourth quarter. Wells Fargo & Company MN now owns 15,485 shares of the company’s stock valued at $59,000 after buying an additional 5,023 shares during the period. Russell Investments Group Ltd. increased its holdings in Clipper Realty by 161.4% during the third quarter. Russell Investments Group Ltd. now owns 12,673 shares of the company’s stock valued at $48,000 after buying an additional 7,824 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Clipper Realty by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 339,418 shares of the company’s stock valued at $1,297,000 after buying an additional 8,738 shares during the period. 37.57% of the stock is owned by hedge funds and other institutional investors.

About Clipper Realty

Clipper Realty Inc is a publicly traded real estate investment trust that acquires, owns and manages multifamily residential and mixed‐use properties in the Greater New York metropolitan area. Since its initial public offering in early 2017, the company has focused on strategically sourcing apartment buildings and retail space in Manhattan and Brooklyn, with an emphasis on value‐add opportunities that can benefit from in‐house leasing, renovation and operational efficiencies.

The company’s primary activities include property acquisition, selective repositioning and asset management.