Clipper Realty (NYSE:CLPR) Releases Earnings Results, Beats Estimates By $0.03 EPS

Clipper Realty (NYSE:CLPR) released its quarterly earnings data on Thursday. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03, Zacks reports.

Clipper Realty Stock Up 1.1%

Clipper Realty stock traded up $0.04 during trading hours on Thursday, hitting $3.76. The stock had a trading volume of 50,074 shares, compared to its average volume of 98,236. The company has a 50-day moving average of $4.02 and a two-hundred day moving average of $3.95. Clipper Realty has a fifty-two week low of $3.39 and a fifty-two week high of $6.49. The company has a market cap of $60.72 million, a PE ratio of -3.65 and a beta of 1.04.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CLPR shares. Wall Street Zen cut Clipper Realty from a “hold” rating to a “sell” rating in a research report on Monday, August 18th. Zacks Research downgraded shares of Clipper Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Clipper Realty presently has a consensus rating of “Hold”.

Insider Activity at Clipper Realty

In other news, CEO David Bistricer bought 8,174 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was acquired at an average cost of $4.01 per share, for a total transaction of $32,777.74. Following the completion of the purchase, the chief executive officer owned 8,174 shares of the company’s stock, valued at $32,777.74. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 53.01% of the company’s stock.

Institutional Investors Weigh In On Clipper Realty

Several institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its position in shares of Clipper Realty by 161.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 12,673 shares of the company’s stock valued at $48,000 after acquiring an additional 7,824 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in Clipper Realty in the second quarter worth about $70,000. JPMorgan Chase & Co. lifted its stake in Clipper Realty by 209.8% during the third quarter. JPMorgan Chase & Co. now owns 22,300 shares of the company’s stock worth $85,000 after purchasing an additional 15,101 shares during the period. AQR Capital Management LLC boosted 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 purchasing an additional 2,491 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Clipper Realty during the first quarter valued at approximately $193,000. 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.