Wall Street Zen Upgrades Clipper Realty (NYSE:CLPR) to Hold

Clipper Realty (NYSE:CLPR) was upgraded by Wall Street Zen from a “strong sell” rating to a “hold” rating in a note issued to investors on Sunday.

Clipper Realty Trading Up 1.0%

Shares of CLPR opened at $4.05 on Friday. Clipper Realty has a 12-month low of $3.39 and a 12-month high of $7.12. The firm has a 50-day moving average price of $3.79 and a 200 day moving average price of $3.94. The firm has a market capitalization of $65.41 million, a P/E ratio of -3.93 and a beta of 1.06.

Clipper Realty (NYSE:CLPR) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. The firm had revenue of $39.04 million during the quarter, compared to analysts’ expectations of $39.10 million. Equities research analysts predict that Clipper Realty will post 0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. purchased a new position in Clipper Realty in the fourth quarter worth approximately $6,776,000. Geode Capital Management LLC grew its position in Clipper Realty by 9.3% in the second quarter. Geode Capital Management LLC now owns 333,970 shares of the company’s stock worth $1,226,000 after acquiring an additional 28,385 shares during the period. Penserra Capital Management LLC purchased a new position in Clipper Realty in the second quarter worth approximately $955,000. Jane Street Group LLC grew its position in Clipper Realty by 56.4% in the first quarter. Jane Street Group LLC now owns 142,027 shares of the company’s stock worth $545,000 after acquiring an additional 51,231 shares during the period. Finally, Northern Trust Corp grew its position in Clipper Realty by 24.2% in the fourth quarter. Northern Trust Corp now owns 137,054 shares of the company’s stock worth $628,000 after acquiring an additional 26,723 shares during the period. 37.57% of the stock is currently owned by hedge funds and other institutional investors.

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.