B. Riley set a $16.00 price objective on Clipper Realty (NYSE:CLPR) in a research report report published on Friday morning. The firm currently has a buy rating on the stock.

Several other brokerages also recently weighed in on CLPR. Zacks Investment Research downgraded shares of Clipper Realty from a buy rating to a hold rating in a research note on Thursday, November 30th. Raymond James Financial restated a buy rating and issued a $14.00 target price on shares of Clipper Realty in a research note on Monday, December 4th. FBR & Co restated a buy rating and issued a $16.00 target price on shares of Clipper Realty in a research note on Friday, October 27th. Finally, JMP Securities started coverage on shares of Clipper Realty in a research note on Monday, October 9th. They issued an outperform rating and a $17.00 target price for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $15.00.

Clipper Realty (NYSE CLPR) opened at $10.15 on Friday. The firm has a market cap of $180.80 and a price-to-earnings ratio of -50.75. Clipper Realty has a 52 week low of $9.43 and a 52 week high of $15.00.

Clipper Realty (NYSE:CLPR) last announced its earnings results on Thursday, October 26th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.14). Clipper Realty had a negative net margin of 2.66% and a negative return on equity of 0.74%. analysts forecast that Clipper Realty will post 0.38 EPS for the current fiscal year.

In related news, Director Sam Levinson acquired 10,000 shares of Clipper Realty stock in a transaction on 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 filing with the SEC, which is available through this hyperlink.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. bought a new position in Clipper Realty during the 3rd quarter valued at $114,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Clipper Realty during the 3rd quarter valued at $143,000. The Manufacturers Life Insurance Company bought a new position in Clipper Realty during the 2nd quarter valued at $180,000. Teachers Insurance & Annuity Association of America bought a new position in Clipper Realty during the 2nd quarter valued at $189,000. Finally, New York State Common Retirement Fund bought a new position in Clipper Realty during the 2nd quarter valued at $196,000. Hedge funds and other institutional investors own 57.08% of the company’s stock.

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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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