Brokerages forecast that Clipper Realty Inc (NYSE:CLPR) will post $0.11 earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for Clipper Realty’s earnings. The highest EPS estimate is $0.11 and the lowest is $0.10. Clipper Realty posted earnings of $0.10 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 10%. The company is scheduled to issue its next quarterly earnings report on Monday, May 21st.
On average, analysts expect that Clipper Realty will report full-year earnings of $0.44 per share for the current fiscal year, with EPS estimates ranging from $0.41 to $0.46. For the next year, analysts forecast that the company will post earnings of $0.54 per share, with EPS estimates ranging from $0.48 to $0.59. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Clipper Realty.
A number of brokerages have recently commented on CLPR. B. Riley set a $16.00 price target on shares of Clipper Realty and gave the stock a “buy” rating in a report on Friday, January 19th. Zacks Investment Research upgraded shares of Clipper Realty from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Wednesday, November 29th. Finally, Raymond James Financial reiterated a “buy” rating and set a $14.00 price target on shares of Clipper Realty in a report on Monday, December 4th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $15.00.
Clipper Realty stock opened at $8.55 on Thursday. The company has a market cap of $157.46 and a price-to-earnings ratio of -57.00. Clipper Realty has a fifty-two week low of $7.64 and a fifty-two week high of $13.56.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 22nd will be issued a dividend of $0.095 per share. The ex-dividend date of this dividend is Wednesday, March 21st. This represents a $0.38 dividend on an annualized basis and a dividend yield of 4.44%. Clipper Realty’s dividend payout ratio (DPR) is presently -253.33%.
Several large investors have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. acquired a new position in Clipper Realty in the third quarter valued at $114,000. Citadel Advisors LLC acquired a new position in Clipper Realty in the fourth quarter valued at $115,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Clipper Realty in the third quarter valued at $143,000. The Manufacturers Life Insurance Company acquired a new position in Clipper Realty in the second quarter valued at $180,000. Finally, New York State Common Retirement Fund acquired a new position in Clipper Realty in the second quarter valued at $196,000. Institutional investors own 56.76% of the company’s stock.
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Clipper Realty Company Profile
Clipper Realty, Inc is a real estate investment trust, which acquires, owns, manages, operates and repositions multi-family residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn. The Company’s segments include Commercial and Residential. As of June 30, 2016, it owned two residential/retail rental properties at 50 Murray Street and 53 Park Place in the Tribeca neighborhood of Manhattan, referred to as the Tribeca House properties.
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