Zacks Research Downgrades Clipper Realty (NYSE:CLPR) to Hold

Clipper Realty (NYSE:CLPR) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Separately, Wall Street Zen cut shares of Clipper Realty from a “hold” rating to a “sell” rating in a report on Monday, August 18th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Clipper Realty Trading Down 2.6%

NYSE CLPR opened at $4.34 on Tuesday. The business has a fifty day simple moving average of $3.96 and a 200 day simple moving average of $3.95. Clipper Realty has a 12 month low of $3.39 and a 12 month high of $7.12. The firm has a market capitalization of $70.01 million, a P/E ratio of -4.21 and a beta of 1.10.

Clipper Realty (NYSE:CLPR) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. The firm had revenue of $39.04 million for the quarter, compared to analysts’ expectations of $39.10 million. As a group, sell-side analysts predict that Clipper Realty will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling at Clipper Realty

In related news, CEO David Bistricer purchased 8,174 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were bought at an average cost of $4.01 per share, with a total value of $32,777.74. Following the acquisition, the chief executive officer owned 8,174 shares of the company’s stock, valued at $32,777.74. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 53.01% of the company’s stock.

Institutional Trading of Clipper Realty

Several hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its stake in Clipper Realty by 12.3% in the first quarter. AQR Capital Management LLC now owns 22,698 shares of the company’s stock valued at $87,000 after acquiring an additional 2,491 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Clipper Realty by 35.5% during the 1st quarter. Russell Investments Group Ltd. now owns 11,194 shares of the company’s stock worth $43,000 after purchasing an additional 2,930 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Clipper Realty by 21.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,207 shares of the company’s stock worth $147,000 after purchasing an additional 6,638 shares during the period. Ritholtz Wealth Management lifted its stake in Clipper Realty by 21.6% in the second quarter. Ritholtz Wealth Management now owns 81,118 shares of the company’s stock valued at $298,000 after purchasing an additional 14,387 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Clipper Realty by 19.0% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 99,229 shares of the company’s stock valued at $381,000 after purchasing an additional 15,825 shares during the last quarter. Institutional investors own 37.57% of the company’s stock.

About Clipper Realty

Clipper Realty Inc (NYSE: CLPR) is a self-administered and self-managed real estate company that acquires, owns, manages, operates, and repositions multifamily residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn.