Clipper Realty (NYSE:CLPR) Posts Earnings Results, Misses Expectations By $0.39 EPS

Clipper Realty (NYSE:CLPR) released its quarterly earnings data on Thursday. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.39), FiscalAI reports. The business had revenue of $38.12 million for the quarter, compared to analysts’ expectations of $39.60 million.

Clipper Realty Stock Performance

Shares of NYSE:CLPR traded up $0.03 during midday trading on Thursday, hitting $3.04. 42,383 shares of the stock were exchanged, compared to its average volume of 67,300. Clipper Realty has a 52-week low of $2.83 and a 52-week high of $4.61. The business’s fifty day simple moving average is $3.17 and its two-hundred day simple moving average is $3.44. The company has a market capitalization of $49.06 million, a PE ratio of -2.22 and a beta of 0.98.

Clipper Realty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, March 12th were paid a $0.095 dividend. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 12.5%. Clipper Realty’s dividend payout ratio is -27.74%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of Clipper Realty during the 4th quarter worth about $42,000. Russell Investments Group Ltd. grew its stake in shares of Clipper Realty by 161.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 12,673 shares of the company’s stock valued at $48,000 after buying an additional 7,824 shares in the last quarter. Abel Hall LLC acquired a new position in Clipper Realty in the third quarter worth approximately $52,000. Wells Fargo & Company MN raised its position in Clipper Realty by 48.0% during the fourth quarter. Wells Fargo & Company MN now owns 15,485 shares of the company’s stock valued at $59,000 after acquiring an additional 5,023 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in Clipper Realty during the fourth quarter valued at approximately $63,000. 37.57% of the stock is owned by institutional investors and hedge funds.

Clipper Realty Company Profile

Clipper Realty Inc is a publicly traded real estate investment trust that acquires, owns and manages multifamily residential and mixed‐use properties in the Greater New York metropolitan area. Since its initial public offering in early 2017, the company has focused on strategically sourcing apartment buildings and retail space in Manhattan and Brooklyn, with an emphasis on value‐add opportunities that can benefit from in‐house leasing, renovation and operational efficiencies.

The company’s primary activities include property acquisition, selective repositioning and asset management.