Clipper Realty (NYSE:CLPR) Downgraded by Raymond James to “Underperform”

Raymond James lowered shares of Clipper Realty (NYSE:CLPR) from an outperform rating to an underperform rating in a report issued on Monday, Marketbeat Ratings reports.

Separately, JMP Securities reaffirmed a market perform rating on shares of Clipper Realty in a research note on Thursday, April 11th.

Clipper Realty Trading Down 3.1 %

Shares of NYSE:CLPR opened at $3.80 on Monday. Clipper Realty has a 12-month low of $3.65 and a 12-month high of $6.86. The company has a market capitalization of $61.03 million, a PE ratio of -8.44 and a beta of 1.22. The business has a 50 day moving average of $4.72 and a two-hundred day moving average of $4.94.

Clipper Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Wednesday, March 27th were paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 10.00%. The ex-dividend date was Tuesday, March 26th. Clipper Realty’s payout ratio is -84.44%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CLPR. Bank of New York Mellon Corp raised its stake in shares of Clipper Realty by 1.7% during the 1st quarter. Bank of New York Mellon Corp now owns 118,314 shares of the company’s stock worth $1,073,000 after buying an additional 1,932 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Clipper Realty by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 140,187 shares of the company’s stock worth $1,272,000 after purchasing an additional 1,424 shares in the last quarter. State Street Corp increased its position in shares of Clipper Realty by 3.5% during the first quarter. State Street Corp now owns 257,204 shares of the company’s stock worth $2,333,000 after purchasing an additional 8,578 shares in the last quarter. Rhumbline Advisers increased its position in shares of Clipper Realty by 20.5% during the second quarter. Rhumbline Advisers now owns 20,790 shares of the company’s stock worth $160,000 after purchasing an additional 3,543 shares in the last quarter. Finally, FMR LLC increased its position in shares of Clipper Realty by 38.6% during the second quarter. FMR LLC now owns 1,094,811 shares of the company’s stock worth $8,452,000 after purchasing an additional 304,762 shares in the last quarter. 37.57% of the stock is owned by institutional investors and hedge funds.

Clipper Realty Company Profile

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.