Clipper Realty (CLPR) Rating Increased to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Clipper Realty (NYSE:CLPR) from a strong sell rating to a hold rating in a research report released on Monday.
According to Zacks, “Clipper Realty Inc. is a real estate investment trust. The Company specializes in acquiring, owning, repositioning, operating and managing asset. Clipper Realty Inc. is headquartered in Brooklyn, New York. “
A number of other research firms have also recently weighed in on CLPR. FBR & Co reissued a buy rating and set a $16.00 price objective on shares of Clipper Realty in a report on Friday, October 27th. JMP Securities assumed coverage on shares of Clipper Realty in a report on Monday, October 9th. They set an outperform rating and a $17.00 price objective on the stock. B. Riley reissued a buy rating on shares of Clipper Realty in a report on Wednesday, November 1st. Finally, Raymond James Financial restated a buy rating and set a $14.00 target price on shares of Clipper Realty in a research report on Monday, December 4th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Clipper Realty presently has a consensus rating of Buy and an average target price of $15.00.
In other Clipper Realty news, Director Sam Levinson bought 10,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were acquired at an average cost of $9.83 per share, for a total transaction of $98,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Several institutional investors and hedge funds have recently made changes to their positions in the company. CI Investments Inc. grew its position in shares of Clipper Realty by 19.0% during the fourth quarter. CI Investments Inc. now owns 346,428 shares of the company’s stock worth $3,461,000 after acquiring an additional 55,328 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Clipper Realty by 2,540.3% during the second quarter. Vanguard Group Inc. now owns 320,236 shares of the company’s stock worth $3,952,000 after acquiring an additional 308,107 shares during the last quarter. State Street Corp grew its position in shares of Clipper Realty by 410.5% during the second quarter. State Street Corp now owns 158,246 shares of the company’s stock worth $1,952,000 after acquiring an additional 127,246 shares during the last quarter. Northern Trust Corp grew its position in shares of Clipper Realty by 374.0% during the second quarter. Northern Trust Corp now owns 58,270 shares of the company’s stock worth $719,000 after acquiring an additional 45,976 shares during the last quarter. Finally, TCW Group Inc. grew its position in shares of Clipper Realty by 63.1% during the third quarter. TCW Group Inc. now owns 57,159 shares of the company’s stock worth $612,000 after acquiring an additional 22,108 shares during the last quarter. Institutional investors and hedge funds own 56.93% of the company’s stock.
About Clipper Realty
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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