Clipper Realty (NYSE:CLPR) Stock Price Up 1.8% – Here’s What Happened

Clipper Realty Inc. (NYSE:CLPR)’s stock price was up 1.8% during trading on Wednesday. The stock traded as high as $3.18 and last traded at $3.1650. 30,486 shares changed hands during trading, a decline of 22% from the average session volume of 39,079 shares. The stock had previously closed at $3.11.

Clipper Realty Price Performance

The firm has a market capitalization of $51.15 million, a P/E ratio of -3.40 and a beta of 1.00. The stock’s 50 day moving average is $3.26 and its two-hundred day moving average is $3.13.

Clipper Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Tuesday, August 18th were issued a dividend of $0.0950 per share. This represents a $0.38 dividend on an annualized basis and a yield of 12.0%. The ex-dividend date of this dividend was Tuesday, August 18th. Clipper Realty’s payout ratio is currently -40.86%.

Insiders Place Their Bets

In other Clipper Realty news, Director Sam Levinson bought 9,317 shares of the company’s stock in a transaction on Thursday, September 24th. The stock was bought at an average price of $3.38 per share, for a total transaction of $31,491.46. Following the transaction, the director owned 411,021 shares of the company’s stock, valued at approximately $1,389,250.98. The trade was a 2.32% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jacob Bistricer bought 73,500 shares of the company’s stock in a transaction on Monday, September 28th. The shares were acquired at an average price of $3.35 per share, with a total value of $246,225.00. Following the transaction, the chief operating officer directly owned 73,500 shares in the company, valued at approximately $246,225. The trade was a ? increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 484,521 shares of company stock valued at $1,567,874 in the last ninety days. Company insiders own 54.59% of the company’s stock.

Institutional Investors Weigh In On Clipper Realty

A number of institutional investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Clipper Realty in the second quarter valued at about $412,000. BlackRock Inc. bought a new stake in Clipper Realty in the second quarter valued at about $297,000. Bank of New York Mellon Corp acquired a new position in Clipper Realty in the second quarter valued at about $31,000. Equitable Holdings Inc. acquired a new position in Clipper Realty in the second quarter valued at about $58,000. Finally, GSA Capital Partners LLP acquired a new position in Clipper Realty in the second quarter valued at about $254,000. 37.57% of the stock is owned by institutional investors and hedge funds.

About Clipper Realty

Clipper Realty Inc (NYSE: CLPR) is a self-administered real estate company focused on owning, operating and developing multifamily residential properties in New York City. Its portfolio is concentrated primarily in the Manhattan and Brooklyn markets.

The company’s properties provide rental housing across a range of locations and building types, from apartment communities in established residential neighborhoods to larger multifamily developments. Clipper Realty’s activities include property management, leasing, capital improvements and redevelopment intended to maintain and enhance its residential portfolio.

Clipper Realty was formed in 2015 through the combination of real estate businesses and became a publicly traded company in 2017.