Shares of Clipper Realty Inc. (NYSE:CLPR) have received an average broker rating score of 1.33 (Strong Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a buy rating and two have issued a strong buy rating on the company.
Brokers have set a 12-month consensus price target of $15.67 for the company and are forecasting that the company will post $0.10 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Clipper Realty an industry rank of 216 out of 265 based on the ratings given to related companies.
CLPR has been the subject of several research analyst reports. B. Riley reaffirmed a “buy” rating on shares of Clipper Realty in a research note on Wednesday, November 1st. FBR & Co reissued a “buy” rating and issued a $16.00 price objective 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 price objective for the company in a research note on Wednesday, November 29th. Raymond James Financial reissued a “buy” rating and issued a $14.00 price objective on shares of Clipper Realty in a research note on Monday, December 4th. Finally, JMP Securities assumed coverage on Clipper Realty in a research note on Monday, October 9th. They issued an “outperform” rating and a $17.00 price objective for the company.
Clipper Realty (NYSE:CLPR) last announced its earnings results on Thursday, October 26th. The company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.14). Clipper Realty had a negative return on equity of 0.74% and a negative net margin of 2.66%. research analysts predict that Clipper Realty will post 0.38 EPS for the current year.
In other news, Director Sam Levinson acquired 10,000 shares of Clipper Realty stock in a transaction that occurred on Tuesday, November 14th. The stock was purchased at an average cost of $9.83 per share, with a total value of $98,300.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.
A number of large investors have recently modified their holdings of CLPR. Nomura Asset Management Co. Ltd. purchased a new stake in Clipper Realty in the 3rd quarter valued at $114,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Clipper Realty in the 3rd quarter valued at $143,000. The Manufacturers Life Insurance Company purchased a new stake in Clipper Realty in the 2nd quarter valued at $180,000. Teachers Insurance & Annuity Association of America purchased a new stake in Clipper Realty in the 2nd quarter valued at $189,000. Finally, New York State Common Retirement Fund purchased a new stake in Clipper Realty in the 2nd quarter valued at $196,000. Institutional investors own 57.08% of the company’s stock.
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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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