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

Clipper Realty (NYSE:CLPR) released its earnings results on Thursday. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.39), FiscalAI reports. The company had revenue of $38.12 million for the quarter, compared to analyst estimates of $39.60 million.

Clipper Realty Stock Up 0.9%

Shares of CLPR stock traded up $0.03 during trading hours on Thursday, reaching $3.04. 42,383 shares of the stock traded hands, compared to its average volume of 67,300. Clipper Realty has a 1-year low of $2.83 and a 1-year high of $4.61. The business has a fifty day moving average price of $3.17 and a 200 day moving average price of $3.44. The firm 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 company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, March 12th were issued a dividend of $0.095 per share. The ex-dividend date was Thursday, March 12th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 12.5%. Clipper Realty’s payout ratio is currently -27.74%.

Institutional Investors Weigh In On Clipper Realty

A number of large investors have recently made changes to their positions in CLPR. Focus Partners Wealth acquired a new stake in shares of Clipper Realty during the third quarter valued at approximately $335,000. Jane Street Group LLC raised its holdings in shares of Clipper Realty by 56.4% during the first quarter. Jane Street Group LLC now owns 142,027 shares of the company’s stock valued at $545,000 after acquiring an additional 51,231 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Clipper Realty during the first quarter valued at approximately $193,000. Geode Capital Management LLC raised its holdings in shares of Clipper Realty by 9.3% during the second quarter. Geode Capital Management LLC now owns 333,970 shares of the company’s stock valued at $1,226,000 after acquiring an additional 28,385 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Clipper Realty by 25.4% during the first quarter. Goldman Sachs Group Inc. now owns 97,027 shares of the company’s stock valued at $373,000 after acquiring an additional 19,640 shares during the period. Institutional investors and hedge funds own 37.57% of the company’s stock.

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.