Zacks: Clipper Realty Inc (NASDAQ:CLPR) Given $15.00 Average Price Target by Analysts
Clipper Realty Inc (NASDAQ:CLPR) has received an average broker rating score of 1.50 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating and one has issued a strong buy rating on the company.
Brokers have set a 1-year consensus target price of $15.00 for the company and are anticipating that the company will post $0.11 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Clipper Realty an industry rank of 159 out of 265 based on the ratings given to related companies.
Several equities research analysts have recently commented on CLPR shares. Zacks Investment Research lowered shares of Clipper Realty from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. FBR & Co restated a “buy” rating on shares of Clipper Realty in a report on Tuesday, May 16th.
In other Clipper Realty news, Director Sam Levinson purchased 83,334 shares of Clipper Realty stock in a transaction dated Friday, June 9th. The stock was acquired at an average price of $11.25 per share, for a total transaction of $937,507.50. Following the acquisition, the director now owns 40,000 shares in the company, valued at approximately $450,000. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
Several large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new stake in Clipper Realty during the first quarter valued at approximately $217,000. Citadel Advisors LLC purchased a new position in shares of Clipper Realty during the first quarter worth about $162,000. EJF Capital LLC purchased a new position in shares of Clipper Realty during the first quarter worth about $4,414,000. Oxford Asset Management purchased a new position in shares of Clipper Realty during the first quarter worth about $432,000. Finally, Mesirow Financial Investment Management Equity Management purchased a new position in shares of Clipper Realty during the first quarter worth about $239,000.
Clipper Realty (NASDAQ:CLPR) traded down 2.06% during mid-day trading on Friday, reaching $9.98. 223,997 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $11.66 and a 200-day moving average price of $12.08. Clipper Realty has a 12-month low of $9.98 and a 12-month high of $15.00. The stock’s market capitalization is $177.76 million.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be issued a $0.095 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $0.38 annualized dividend and a dividend yield of 3.81%.
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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