Clipper Realty Inc (CLPR) Stake Increased by Forward Management LLC
Forward Management LLC raised its stake in Clipper Realty Inc (NASDAQ:CLPR) by 40.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,036,796 shares of the company’s stock after buying an additional 296,296 shares during the period. Clipper Realty comprises approximately 1.1% of Forward Management LLC’s holdings, making the stock its 26th largest position. Forward Management LLC owned about 0.06% of Clipper Realty worth $12,794,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of CLPR. EJF Capital LLC acquired a new position in Clipper Realty during the first quarter valued at $4,414,000. Park West Asset Management LLC acquired a new position in Clipper Realty during the first quarter valued at $3,986,000. CI Investments Inc. acquired a new position in Clipper Realty during the first quarter valued at $3,636,000. Oxford Asset Management acquired a new position in Clipper Realty during the first quarter valued at $432,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Clipper Realty during the first quarter valued at $328,000.
Clipper Realty Inc (NASDAQ:CLPR) opened at 10.29 on Thursday. Clipper Realty Inc has a 12-month low of $10.07 and a 12-month high of $15.00. The firm’s 50-day moving average price is $11.80 and its 200 day moving average price is $12.11. The company’s market capitalization is $183.29 million.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be given a $0.095 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $0.38 annualized dividend and a yield of 3.69%.
Several research analysts have weighed in on CLPR shares. FBR & Co reiterated a “buy” rating on shares of Clipper Realty in a report on Tuesday, May 16th. Zacks Investment Research upgraded Clipper Realty from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Wednesday, June 21st.
In other Clipper Realty news, Director Sam Levinson purchased 83,334 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The shares were acquired at an average price of $11.25 per share, with a total value of $937,507.50. Following the transaction, the director now owns 40,000 shares in the company, valued at $450,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
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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