Clipper Realty (NYSE:CLPR) had its price target lowered by Raymond James from $11.00 to $9.00 in a research note published on Monday, AnalystRatings.com reports. The brokerage currently has an outperform rating on the stock.

Several other analysts also recently commented on CLPR. ValuEngine downgraded shares of Clipper Realty from a hold rating to a sell rating in a research report on Monday, August 3rd. Zacks Investment Research downgraded shares of Clipper Realty from a hold rating to a sell rating in a report on Wednesday, August 26th. Finally, B. Riley raised their price target on shares of Clipper Realty from $14.00 to $17.00 in a report on Wednesday, June 10th.

Shares of CLPR stock opened at $6.24 on Monday. Clipper Realty has a one year low of $4.32 and a one year high of $11.95. The company’s 50-day moving average is $6.73 and its 200 day moving average is $6.86. The company has a market capitalization of $111.16 million, a price-to-earnings ratio of -28.36 and a beta of 0.91.

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 21st were issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 6.09%. The ex-dividend date was Thursday, August 20th. Clipper Realty’s payout ratio is presently 76.00%.

Several hedge funds and other institutional investors have recently made changes to their positions in CLPR. Brigade Capital Management LP lifted its stake in shares of Clipper Realty by 75.0% in the 1st quarter. Brigade Capital Management LP now owns 1,066,100 shares of the company’s stock worth $5,490,000 after purchasing an additional 456,860 shares during the period. FMR LLC lifted its stake in shares of Clipper Realty by 19.6% in the 1st quarter. FMR LLC now owns 2,627,277 shares of the company’s stock worth $35,180,000 after purchasing an additional 430,053 shares during the period. Raymond James & Associates lifted its stake in shares of Clipper Realty by 114.1% in the 2nd quarter. Raymond James & Associates now owns 222,690 shares of the company’s stock worth $1,804,000 after purchasing an additional 118,683 shares during the period. WINTON GROUP Ltd lifted its stake in shares of Clipper Realty by 306.9% in the 2nd quarter. WINTON GROUP Ltd now owns 88,725 shares of the company’s stock worth $719,000 after purchasing an additional 66,922 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Clipper Realty by 174.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 31,474 shares of the company’s stock worth $254,000 after purchasing an additional 19,993 shares during the period. 70.30% of the stock is currently owned by hedge funds and other institutional investors.

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.

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