Kennedy Capital Management Inc. purchased a new stake in shares of Clipper Realty Inc (NYSE:CLPR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 127,401 shares of the company’s stock, valued at approximately $1,273,000. Kennedy Capital Management Inc. owned 0.72% of Clipper Realty at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. boosted its position in shares of Clipper Realty by 1.6% in the 4th quarter. BlackRock Inc. now owns 726,480 shares of the company’s stock worth $7,259,000 after purchasing an additional 11,667 shares in the last quarter. CI Investments Inc. lifted its position in Clipper Realty by 19.0% in the 4th quarter. CI Investments Inc. now owns 346,428 shares of the company’s stock valued at $3,461,000 after acquiring an additional 55,328 shares in the last quarter. Vanguard Group Inc. lifted its position in Clipper Realty by 2,540.3% in the 2nd quarter. Vanguard Group Inc. now owns 320,236 shares of the company’s stock valued at $3,952,000 after acquiring an additional 308,107 shares in the last quarter. State Street Corp lifted its position in Clipper Realty by 410.5% in the 2nd quarter. State Street Corp now owns 158,246 shares of the company’s stock valued at $1,952,000 after acquiring an additional 127,246 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Clipper Realty by 61.8% in the 4th quarter. Bank of New York Mellon Corp now owns 97,564 shares of the company’s stock valued at $975,000 after acquiring an additional 37,272 shares in the last quarter. Hedge funds and other institutional investors own 56.76% of the company’s stock.
Shares of NYSE:CLPR traded down $0.06 during trading on Friday, reaching $8.28. The company’s stock had a trading volume of 27,677 shares, compared to its average volume of 40,734. Clipper Realty Inc has a 12 month low of $7.64 and a 12 month high of $13.00. The company has a market cap of $148.56, a price-to-earnings ratio of 21.79 and a beta of -0.17.
Clipper Realty (NYSE:CLPR) last announced its quarterly earnings results on Thursday, March 8th. The company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.14). The business had revenue of $27.32 million during the quarter, compared to the consensus estimate of $26.41 million. Clipper Realty had a negative net margin of 2.28% and a negative return on equity of 0.51%. equities research analysts predict that Clipper Realty Inc will post 0.44 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 22nd were paid a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Wednesday, March 21st. Clipper Realty’s payout ratio is currently 100.00%.
Several research firms recently issued reports on CLPR. Zacks Investment Research raised Clipper Realty from a “strong sell” rating to a “hold” rating in a research report on Monday, February 5th. B. Riley began coverage on shares of Clipper Realty in a report on Monday, March 12th. They set a “buy” rating and a $16.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $15.00.
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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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