Clipper Realty Inc. (NYSE:CLPR) Short Interest Update

Clipper Realty Inc. (NYSE:CLPR) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 148,979 shares, a decrease of 60.4% from the June 15th total of 376,633 shares. Based on an average trading volume of 274,633 shares, the short-interest ratio is currently 0.5 days. Currently, 2.0% of the company’s stock are sold short.

Clipper Realty Stock Up 0.5%

CLPR traded up $0.01 during midday trading on Wednesday, reaching $2.88. The company had a trading volume of 69,925 shares, compared to its average volume of 88,557. Clipper Realty has a 1 year low of $2.69 and a 1 year high of $4.61. The company has a market cap of $46.62 million, a P/E ratio of -3.56 and a beta of 0.98. The business has a 50-day moving average of $3.05 and a two-hundred day moving average of $3.25.

Clipper Realty (NYSE:CLPR) last released its earnings results on Thursday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.39). The company had revenue of $38.12 million for the quarter, compared to the consensus estimate of $39.60 million. On average, equities research analysts predict that Clipper Realty will post 0.26 EPS for the current year.

Clipper Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Tuesday, May 26th were paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 13.2%. The ex-dividend date was Tuesday, May 26th. Clipper Realty’s dividend payout ratio is presently -46.91%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Clipper Realty from a “hold” rating to a “sell” rating in a research note on Sunday, May 31st. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Clipper Realty

Several large investors have recently made changes to their positions in the business. AQR Capital Management LLC lifted its holdings in Clipper Realty by 12.3% in the 1st quarter. AQR Capital Management LLC now owns 22,698 shares of the company’s stock worth $87,000 after purchasing an additional 2,491 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Clipper Realty by 3.1% during the third quarter. Dimensional Fund Advisors LP now owns 147,119 shares of the company’s stock valued at $559,000 after buying an additional 4,375 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of 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 buying an additional 5,023 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Clipper Realty by 161.4% in the third quarter. Russell Investments Group Ltd. now owns 12,673 shares of the company’s stock worth $48,000 after buying an additional 7,824 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Clipper Realty by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 339,418 shares of the company’s stock worth $1,297,000 after buying an additional 8,738 shares in the last quarter. 37.57% of the stock is currently owned by hedge funds and other institutional investors.

About Clipper Realty

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.