CLIPPER Rlty In/SH 144A (CLPR) Upgraded by ValuEngine to “Buy”

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CLIPPER Rlty In/SH 144A (NYSE:CLPR) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Friday.

Separately, Zacks Investment Research cut CLIPPER Rlty In/SH 144A from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 10th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $13.63.

CLPR stock traded up $0.13 during midday trading on Friday, hitting $13.01. 19,700 shares of the company’s stock were exchanged, compared to its average volume of 45,354. The stock has a market cap of $225.87 million, a price-to-earnings ratio of 34.24 and a beta of 1.23. CLIPPER Rlty In/SH 144A has a 1-year low of $7.62 and a 1-year high of $13.82.

CLIPPER Rlty In/SH 144A (NYSE:CLPR) last posted its earnings results on Wednesday, August 8th. The company reported $0.12 earnings per share (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 analysts’ expectations 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%. As a group, analysts predict that CLIPPER Rlty In/SH 144A will post 0.42 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. State of New Jersey Common Pension Fund D grew its stake in shares of CLIPPER Rlty In/SH 144A by 5.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 160,500 shares of the company’s stock valued at $2,172,000 after buying an additional 9,000 shares in the last quarter. Northern Trust Corp grew its stake in shares of CLIPPER Rlty In/SH 144A by 3.3% in the second quarter. Northern Trust Corp now owns 162,332 shares of the company’s stock valued at $1,386,000 after buying an additional 5,233 shares in the last quarter. BlackRock Inc. grew its stake in shares of CLIPPER Rlty In/SH 144A by 1.0% in the second quarter. BlackRock Inc. now owns 736,240 shares of the company’s stock valued at $6,287,000 after buying an additional 7,330 shares in the last quarter. Finally, Forward Management LLC grew its stake in shares of CLIPPER Rlty In/SH 144A by 0.6% in the second quarter. Forward Management LLC now owns 1,002,310 shares of the company’s stock valued at $8,559,000 after buying an additional 6,014 shares in the last quarter. 56.07% of the stock is owned by institutional investors and hedge funds.

CLIPPER Rlty In/SH 144A Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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