Clipper Realty Inc. (NYSE:CLPR) Sees Large Increase in Short Interest

Clipper Realty Inc. (NYSE:CLPR) was the recipient of a significant growth in short interest in March. As of March 13th, there was short interest totaling 443,393 shares, a growth of 52.6% from the February 26th total of 290,570 shares. Based on an average daily volume of 72,408 shares, the days-to-cover ratio is currently 6.1 days. Approximately 5.8% of the company’s shares are sold short.

Clipper Realty Price Performance

Shares of NYSE CLPR opened at $2.94 on Friday. The company has a 50 day simple moving average of $3.33 and a 200 day simple moving average of $3.63. The firm has a market cap of $47.40 million, a PE ratio of -2.14 and a beta of 0.97. Clipper Realty has a 1 year low of $2.92 and a 1 year high of $4.61.

Clipper Realty (NYSE:CLPR) last posted its earnings results on Thursday, February 26th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.41). The business had revenue of $37.07 million for the quarter, compared to analysts’ expectations of $38.10 million. As a group, research analysts anticipate that Clipper Realty will post 0.39 earnings per share for the current fiscal year.

Clipper Realty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, March 12th were given a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 12.9%. The ex-dividend date of this dividend was Thursday, March 12th. Clipper Realty’s dividend payout ratio (DPR) is currently -27.74%.

Insider Activity at Clipper Realty

In other news, Director Sam Levinson purchased 19,558 shares of Clipper Realty stock in a transaction dated Tuesday, December 30th. The shares were bought at an average cost of $3.70 per share, for a total transaction of $72,364.60. Following the completion of the acquisition, the director owned 79,410 shares in the company, valued at approximately $293,817. This trade represents a 32.68% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 58,263 shares of company stock worth $216,184 over the last quarter. Company insiders own 53.01% of the company’s stock.

Institutional Investors Weigh In On Clipper Realty

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Penserra Capital Management LLC raised its position in shares of Clipper Realty by 3.5% during the third quarter. Penserra Capital Management LLC now owns 269,444 shares of the company’s stock worth $1,023,000 after acquiring an additional 9,131 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Clipper Realty by 209.8% during the 3rd 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 last quarter. Geode Capital Management LLC lifted its position in shares of Clipper Realty by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 339,418 shares of the company’s stock worth $1,297,000 after purchasing an additional 8,738 shares during the period. Two Sigma Investments LP lifted its position in shares of Clipper Realty by 19.3% in the 3rd quarter. Two Sigma Investments LP now owns 86,968 shares of the company’s stock worth $330,000 after purchasing an additional 14,045 shares during the period. Finally, Ameriprise Financial Inc. bought a new stake in shares of Clipper Realty in the 2nd quarter valued at $70,000. Institutional investors and hedge funds own 37.57% of the company’s stock.

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.