Clipper Realty (NYSE:CLPR) Stock Passes Below 200 Day Moving Average – Should You Sell?

Clipper Realty Inc. (NYSE:CLPR) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.32 and traded as low as $3.05. Clipper Realty shares last traded at $3.14, with a volume of 156,425 shares.

Wall Street Analysts Forecast Growth

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

Clipper Realty Stock Up 3.0%

The firm’s fifty day simple moving average is $3.19 and its 200-day simple moving average is $3.32. The company has a market cap of $50.74 million, a PE ratio of -3.88 and a beta of 0.96.

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

Clipper Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Tuesday, May 26th were given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 12.1%. The ex-dividend date of this dividend was Tuesday, May 26th. Clipper Realty’s dividend payout ratio is -46.91%.

Institutional Investors Weigh In On Clipper Realty

A number of large investors have recently modified their holdings of CLPR. AQR Capital Management LLC grew its position in Clipper Realty by 12.3% in the first quarter. AQR Capital Management LLC now owns 22,698 shares of the company’s stock valued at $87,000 after acquiring an additional 2,491 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Clipper Realty by 3.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 147,119 shares of the company’s stock valued at $559,000 after purchasing an additional 4,375 shares in the last quarter. Wells Fargo & Company MN grew 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 worth $59,000 after buying an additional 5,023 shares in the last quarter. Russell Investments Group Ltd. increased its stake 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 during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Clipper Realty by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 339,418 shares of the company’s stock valued at $1,297,000 after acquiring an additional 8,738 shares during the last quarter. Institutional investors and hedge funds own 37.57% of the company’s stock.

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.