Equities research analysts expect Clipper Realty Inc (NYSE:CLPR) to report $29.96 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Clipper Realty’s earnings, with the lowest sales estimate coming in at $29.70 million and the highest estimate coming in at $30.22 million. Clipper Realty posted sales of $27.95 million in the same quarter last year, which suggests a positive year over year growth rate of 7.2%. The business is scheduled to report its next quarterly earnings report on Thursday, November 7th.
On average, analysts expect that Clipper Realty will report full year sales of $117.25 million for the current year, with estimates ranging from $116.90 million to $117.59 million. For the next year, analysts anticipate that the business will report sales of $130.70 million, with estimates ranging from $129.60 million to $131.80 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Clipper Realty.
Clipper Realty (NYSE:CLPR) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $28.45 million during the quarter, compared to analyst estimates of $28.08 million. Clipper Realty had a negative net margin of 0.58% and a negative return on equity of 0.41%.
A number of analysts recently weighed in on the stock. ValuEngine lowered shares of Clipper Realty from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Zacks Investment Research raised shares of Clipper Realty from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Tuesday, May 28th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA grew its holdings in Clipper Realty by 52,383.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,149 shares of the company’s stock worth $42,000 after acquiring an additional 3,143 shares during the period. B. Riley Wealth Management Inc. acquired a new stake in Clipper Realty during the 1st quarter worth $148,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Clipper Realty during the 2nd quarter worth $178,000. Charles Schwab Investment Management Inc. grew its holdings in Clipper Realty by 6.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 35,812 shares of the company’s stock worth $401,000 after acquiring an additional 2,200 shares during the period. Finally, AJO LP grew its holdings in Clipper Realty by 18.2% during the 1st quarter. AJO LP now owns 40,023 shares of the company’s stock worth $536,000 after acquiring an additional 6,172 shares during the period. 69.57% of the stock is owned by hedge funds and other institutional investors.
Shares of Clipper Realty stock traded down $0.13 during midday trading on Monday, reaching $11.00. The company had a trading volume of 17,900 shares, compared to its average volume of 23,421. The firm has a market cap of $197.39 million, a P/E ratio of 24.44 and a beta of 0.05. The company’s fifty day moving average is $11.04. Clipper Realty has a 1-year low of $9.80 and a 1-year high of $14.38.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Tuesday, August 13th will be issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Monday, August 12th. Clipper Realty’s dividend payout ratio is presently 84.44%.
About Clipper Realty
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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