Zacks Investment Research Downgrades Clipper Realty Inc (NASDAQ:CLPR) to Sell
Clipper Realty Inc (NASDAQ:CLPR) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research report issued to clients and investors 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. “
Separately, FBR & Co restated a “buy” rating on shares of Clipper Realty in a research note on Tuesday, May 16th.
Clipper Realty (CLPR) traded up 4.41% on Monday, reaching $10.42. 51,718 shares of the company traded hands. The stock’s 50 day moving average price is $11.66 and its 200 day moving average price is $12.08. Clipper Realty has a one year low of $9.98 and a one year high of $15.00. The company’s market capitalization is $185.60 million.
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In other news, Director Sam Levinson acquired 83,334 shares of Clipper Realty stock in a transaction on Friday, June 9th. The stock was acquired at an average cost of $11.25 per share, for a total transaction of $937,507.50. Following the purchase, the director now owns 40,000 shares in the company, valued at $450,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of hedge funds have recently added to or reduced their stakes in the stock. American Financial Group Inc. purchased a new stake in Clipper Realty during the second quarter worth $13,711,000. Forward Management LLC purchased a new stake in Clipper Realty during the first quarter worth $9,492,000. EJF Capital LLC purchased a new stake in Clipper Realty during the first quarter worth $4,414,000. Park West Asset Management LLC purchased a new stake in Clipper Realty during the first quarter worth $3,986,000. Finally, Vanguard Group Inc. raised its stake in Clipper Realty by 2,540.3% in the second quarter. Vanguard Group Inc. now owns 320,236 shares of the company’s stock worth $3,952,000 after buying an additional 308,107 shares in the last quarter.
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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