Short Interest in Clipper Realty Inc. (NYSE:CLPR) Decreases By 15.8%
by Teresa Graham · The Cerbat GemClipper Realty Inc. (NYSE:CLPR – Get Free Report) was the target of a large drop in short interest in December. As of December 15th, there was short interest totaling 173,631 shares, a drop of 15.8% from the November 30th total of 206,193 shares. Based on an average trading volume of 80,725 shares, the short-interest ratio is presently 2.2 days. Approximately 2.3% of the shares of the company are short sold. Approximately 2.3% of the shares of the company are short sold. Based on an average trading volume of 80,725 shares, the short-interest ratio is presently 2.2 days.
Insiders Place Their Bets
In related news, Director Sam Levinson bought 19,558 shares of Clipper Realty stock in a transaction that occurred on Tuesday, December 30th. The stock was purchased at an average cost of $3.70 per share, for a total transaction of $72,364.60. Following the acquisition, the director owned 79,410 shares in the company, valued at $293,817. This trade represents a 32.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders purchased 58,263 shares of company stock valued at $216,184. 53.01% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in Clipper Realty by 35.5% during the first quarter. Russell Investments Group Ltd. now owns 11,194 shares of the company’s stock worth $43,000 after buying an additional 2,930 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Clipper Realty in the 3rd quarter valued at $44,000. Abel Hall LLC bought a new position in shares of Clipper Realty during the 3rd quarter worth about $52,000. Ameriprise Financial Inc. acquired a new stake in shares of Clipper Realty during the 2nd quarter valued at about $70,000. Finally, Harpswell Capital Advisors LLC acquired a new stake in shares of Clipper Realty during the 3rd quarter valued at about $72,000. 37.57% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, Zacks Research downgraded Clipper Realty from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.
Clipper Realty Stock Performance
Shares of NYSE:CLPR traded up $0.04 on Thursday, hitting $3.83. 105,029 shares of the company were exchanged, compared to its average volume of 83,464. The company’s 50 day moving average price is $3.65 and its two-hundred day moving average price is $3.86. The firm has a market capitalization of $61.85 million, a price-to-earnings ratio of -3.42 and a beta of 1.01. Clipper Realty has a one year low of $3.31 and a one year high of $5.16.
Clipper Realty (NYSE:CLPR – Get Free Report) last released its earnings results on Thursday, November 13th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $37.70 million for the quarter, compared to analyst estimates of $37.90 million. Research analysts predict that Clipper Realty will post 0.39 earnings per share for the current year.
Clipper Realty Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Wednesday, November 26th were issued a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 9.9%. The ex-dividend date of this dividend was Wednesday, November 26th. Clipper Realty’s dividend payout ratio (DPR) is presently -33.93%.
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.