Clipper Realty Inc (CLPR) Declares Quarterly Dividend of $0.10

Clipper Realty Inc (NASDAQ:CLPR) announced a quarterly dividend on Friday, October 27th, Wall Street Journal reports. Stockholders of record on Monday, November 6th will be given a dividend of 0.095 per share on Monday, November 13th. This represents a $0.38 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Friday, November 3rd.

Clipper Realty (NASDAQ CLPR) traded down 3.15% during midday trading on Friday, hitting $10.76. 38,757 shares of the stock traded hands. The company’s 50 day moving average price is $11.05 and its 200 day moving average price is $11.28. The firm’s market cap is $191.66 million. Clipper Realty has a 12 month low of $9.98 and a 12 month high of $15.00.

Several brokerages have recently weighed in on CLPR. FBR & Co reaffirmed a “buy” rating and set a $16.00 target price on shares of Clipper Realty in a research note on Friday. Zacks Investment Research downgraded Clipper Realty from a “buy” rating to a “sell” rating in a research note on Monday, August 14th. Finally, JMP Securities began coverage on Clipper Realty in a research note on Monday, October 9th. They set an “outperform” rating and a $17.00 target price for the company.

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Hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System raised its stake in shares of Clipper Realty by 132.5% during the 2nd quarter. California State Teachers Retirement System now owns 26,500 shares of the company’s stock worth $327,000 after buying an additional 15,100 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Clipper Realty during the 2nd quarter worth approximately $180,000. State Street Corp raised its stake in shares of Clipper Realty by 410.5% during the 2nd quarter. State Street Corp now owns 158,246 shares of the company’s stock worth $1,952,000 after buying an additional 127,246 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Clipper Realty by 374.0% during the 2nd quarter. Northern Trust Corp now owns 58,270 shares of the company’s stock worth $719,000 after buying an additional 45,976 shares during the period.

Clipper Realty Company Profile

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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