Clipper Realty Inc (CLPR) Given Consensus Rating of “Strong Buy” by Analysts
Shares of Clipper Realty Inc (NYSE:CLPR) have been assigned a consensus broker rating score of 1.33 (Strong Buy) from the three brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy recommendation and two have given a strong buy recommendation to the company.
Analysts have set a 12-month consensus target price of $15.67 for the company and are forecasting 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 236 out of 265 based on the ratings given to related companies.
A number of research firms have recently weighed in on CLPR. Zacks Investment Research raised shares of Clipper Realty from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Wednesday, November 29th. B. Riley set a $16.00 price target on shares of Clipper Realty and gave the stock a “buy” rating in a research note on Friday, January 19th. Finally, Raymond James Financial reaffirmed a “buy” rating and issued a $14.00 price target on shares of Clipper Realty in a research note on Monday, December 4th.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 22nd will be paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend is Wednesday, March 21st. Clipper Realty’s dividend payout ratio (DPR) is presently -253.33%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Deutsche Bank AG increased its stake in shares of Clipper Realty by 156.1% in the fourth quarter. Deutsche Bank AG now owns 35,614 shares of the company’s stock worth $354,000 after acquiring an additional 21,708 shares during the last quarter. Kennedy Capital Management Inc. acquired a new position in Clipper Realty during the fourth quarter worth $1,273,000. Citadel Advisors LLC acquired a new position in Clipper Realty during the fourth quarter worth $115,000. TCW Group Inc. increased its position in Clipper Realty by 20.6% during the fourth quarter. TCW Group Inc. now owns 68,954 shares of the company’s stock worth $689,000 after buying an additional 11,795 shares during the last quarter. Finally, BlackRock Inc. increased its position in Clipper Realty by 1.6% during the fourth quarter. BlackRock Inc. now owns 726,480 shares of the company’s stock worth $7,259,000 after buying an additional 11,667 shares during the last quarter. 56.76% of the stock is currently owned by institutional investors and hedge funds.
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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