Clipper Realty (NYSE:CLPR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $12.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 17.65% from the company’s current price.

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. “

Other equities research analysts also recently issued reports about the company. B. Riley reaffirmed a “buy” rating on shares of Clipper Realty in a research report on Wednesday, November 1st. FBR & Co reaffirmed a “buy” rating and set a $16.00 price target on shares of Clipper Realty in a research report on Friday, October 27th. Finally, JMP Securities began coverage on Clipper Realty in a research report on Monday, October 9th. They set an “outperform” rating and a $17.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average price target of $15.00.

Shares of Clipper Realty (NYSE:CLPR) traded down $0.07 on Wednesday, reaching $10.20. The company’s stock had a trading volume of 31,700 shares, compared to its average volume of 77,917. The firm has a market cap of $187.93 and a P/E ratio of 30.14. Clipper Realty has a 12 month low of $9.43 and a 12 month high of $15.00.

In other Clipper Realty news, Director Sam Levinson bought 10,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were purchased at an average cost of $9.83 per share, for a total transaction of $98,300.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Large investors have recently bought and sold shares of the company. American Financial Group Inc. purchased a new position in Clipper Realty in the 2nd quarter valued at about $13,711,000. Vanguard Group Inc. lifted its stake in Clipper Realty by 2,540.3% in the 2nd quarter. Vanguard Group Inc. now owns 320,236 shares of the company’s stock valued at $3,952,000 after buying an additional 308,107 shares in the last quarter. Forward Management LLC lifted its stake in Clipper Realty by 40.0% in the 2nd quarter. Forward Management LLC now owns 1,036,796 shares of the company’s stock valued at $12,794,000 after buying an additional 296,296 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Clipper Realty in the 2nd quarter valued at about $3,233,000. Finally, State Street Corp lifted its stake in Clipper Realty by 410.5% in the 2nd quarter. State Street Corp now owns 158,246 shares of the company’s stock valued at $1,952,000 after buying an additional 127,246 shares in the last quarter. Hedge funds and other institutional investors own 57.08% of the company’s stock.

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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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