Insider Buying: Clipper Realty (NYSE:CLPR) Director Acquires $262,086.87 in Stock

Clipper Realty Inc. (NYSE:CLPR) Director Sam Levinson purchased 81,647 shares of Clipper Realty stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average cost of $3.21 per share, with a total value of $262,086.87. Following the transaction, the director directly owned 150,819 shares of the company’s stock, valued at $484,128.99. This represents a 118.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Sam Levinson also recently made the following trade(s):

• On Friday, August 14th, Sam Levinson acquired 3,945 shares of Clipper Realty stock. The stock was acquired at an average cost of $3.29 per share, for a total transaction of $12,979.05.
• On Wednesday, August 12th, Sam Levinson bought 69,172 shares of Clipper Realty stock. The shares were acquired at an average price of $3.09 per share, for a total transaction of $213,741.48.

Clipper Realty Trading Down 0.6%

Shares of CLPR opened at $3.32 on Monday. The company has a market cap of $53.67 million, a price-to-earnings ratio of -3.57 and a beta of 0.97. The business’s fifty day simple moving average is $2.96 and its two-hundred day simple moving average is $3.13. Clipper Realty Inc. has a 12 month low of $2.69 and a 12 month high of $4.61.

Clipper Realty (NYSE:CLPR) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.39). The firm had revenue of $38.12 million during the quarter, compared to analysts’ expectations of $39.60 million. As a group, research analysts forecast that Clipper Realty Inc. will post 0.26 EPS for the current year.

Clipper Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Tuesday, August 18th will be given a $0.095 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.38 dividend on an annualized basis and a yield of 11.4%. Clipper Realty’s payout ratio is -40.86%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Clipper Realty

Several hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in shares of Clipper Realty in the fourth quarter worth $42,000. Bank of New York Mellon Corp bought a new position in Clipper Realty in the second quarter valued at about $31,000. Russell Investments Group Ltd. lifted its holdings in Clipper Realty by 161.4% in the third quarter. Russell Investments Group Ltd. now owns 12,673 shares of the company’s stock valued at $48,000 after acquiring an additional 7,824 shares during the period. Abel Hall LLC bought a new position in Clipper Realty in the third quarter valued at about $52,000. Finally, Wells Fargo & Company MN boosted its position in Clipper Realty by 48.0% in the fourth quarter. Wells Fargo & Company MN now owns 15,485 shares of the company’s stock worth $59,000 after purchasing an additional 5,023 shares during the last quarter. 37.57% of the stock is owned by institutional investors.

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.