CLIPPER Rlty In/SH 144A (CLPR) Cut to Hold at Zacks Investment Research

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Zacks Investment Research downgraded shares of CLIPPER Rlty In/SH 144A (NYSE:CLPR) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday morning.

According to Zacks, “Clipper Realty Inc. is a real estate investment trust. The Company specializes in acquiring, owning, repositioning, operating and managing asset. Clipper Realty Inc. is headquartered in Brooklyn, New York. “

Separately, ValuEngine upgraded CLIPPER Rlty In/SH 144A from a sell rating to a hold rating in a research report on Wednesday, July 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. CLIPPER Rlty In/SH 144A has a consensus rating of Buy and a consensus target price of $13.63.

Shares of CLPR opened at $12.33 on Wednesday. The company has a market capitalization of $241.01 million, a PE ratio of 32.45 and a beta of 1.21. CLIPPER Rlty In/SH 144A has a 52 week low of $7.62 and a 52 week high of $13.82.

CLIPPER Rlty In/SH 144A (NYSE:CLPR) last issued its earnings results on Wednesday, August 8th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. The company had revenue of $27.30 million during the quarter, compared to analyst estimates of $27.71 million. CLIPPER Rlty In/SH 144A had a negative return on equity of 2.65% and a negative net margin of 4.42%. Research analysts expect that CLIPPER Rlty In/SH 144A will post 0.42 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Forward Management LLC boosted its position in CLIPPER Rlty In/SH 144A by 0.6% during the 2nd quarter. Forward Management LLC now owns 1,002,310 shares of the company’s stock valued at $8,559,000 after purchasing an additional 6,014 shares during the period. BlackRock Inc. boosted its position in CLIPPER Rlty In/SH 144A by 1.0% during the 2nd quarter. BlackRock Inc. now owns 736,240 shares of the company’s stock valued at $6,287,000 after purchasing an additional 7,330 shares during the period. Northern Trust Corp boosted its position in CLIPPER Rlty In/SH 144A by 3.3% during the 2nd quarter. Northern Trust Corp now owns 162,332 shares of the company’s stock valued at $1,386,000 after purchasing an additional 5,233 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its position in CLIPPER Rlty In/SH 144A by 19.8% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 151,500 shares of the company’s stock valued at $1,294,000 after purchasing an additional 25,000 shares during the period. Institutional investors and hedge funds own 56.04% of the company’s stock.

About CLIPPER Rlty In/SH 144A

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.

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