Zacks Investment Research Lowers Clipper Realty Inc (CLPR) to Strong Sell
Zacks Investment Research downgraded shares of Clipper Realty Inc (NASDAQ:CLPR) from a hold rating to a strong sell rating in a research report released on Tuesday.
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. “
Several other research analysts also recently commented on the company. JMP Securities initiated coverage on Clipper Realty in a research note on Monday, October 9th. They set an outperform rating and a $17.00 target price for the company. FBR & Co reaffirmed a buy rating and issued a $16.00 price objective on shares of Clipper Realty in a research note on Friday, October 27th.
Clipper Realty (NASDAQ:CLPR) traded up $0.15 during midday trading on Tuesday, hitting $11.00. 109,765 shares of the stock were exchanged.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Monday, November 6th will be paid a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, November 3rd.
Several institutional investors have recently added to or reduced their stakes in CLPR. Citadel Advisors LLC acquired a new position in shares of Clipper Realty in the first quarter valued at approximately $162,000. The Manufacturers Life Insurance Company acquired a new position in shares of Clipper Realty in the second quarter valued at approximately $180,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Clipper Realty in the second quarter valued at approximately $189,000. New York State Common Retirement Fund acquired a new position in shares of Clipper Realty in the second quarter valued at approximately $196,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Clipper Realty in the first quarter valued at approximately $217,000.
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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