Insider Buying: Clipper Realty (NYSE:CLPR) Director Acquires $213,741.48 in Stock

Clipper Realty Inc. (NYSE:CLPR) Director Sam Levinson purchased 69,172 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average cost of $3.09 per share, with a total value of $213,741.48. Following the completion of the acquisition, the director directly owned 69,172 shares in the company, valued at $213,741.48. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Sam Levinson also recently made the following trade(s):

• On Friday, August 14th, Sam Levinson bought 3,945 shares of Clipper Realty stock. The stock was acquired at an average cost of $3.29 per share, for a total transaction of $12,979.05.
• On Thursday, August 13th, Sam Levinson acquired 81,647 shares of Clipper Realty stock. The stock was acquired at an average cost of $3.21 per share, for a total transaction of $262,086.87.

Clipper Realty Stock Down 0.6%

Shares of NYSE:CLPR opened at $3.32 on Monday. Clipper Realty Inc. has a 12 month low of $2.69 and a 12 month high of $4.61. The company’s 50-day moving average price is $2.96 and its two-hundred day moving average price is $3.13. The firm has a market cap of $53.67 million, a P/E ratio of -3.57 and a beta of 0.97.

Clipper Realty (NYSE:CLPR) last released its earnings results on Thursday, May 14th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.39). The firm had revenue of $38.12 million during the quarter, compared to the consensus estimate of $39.60 million. As a group, equities analysts predict that Clipper Realty Inc. will post 0.26 earnings per share for the current fiscal year.

Clipper Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Tuesday, August 18th will be paid a $0.095 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 11.4%. Clipper Realty’s dividend payout ratio is -40.86%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Clipper Realty from a “hold” rating to a “sell” rating in a report on Sunday, May 31st. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Clipper Realty presently has an average rating of “Hold”.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in Clipper Realty during the 4th quarter worth about $42,000. Bank of New York Mellon Corp acquired a new position in shares of Clipper Realty during the 2nd quarter worth about $31,000. Russell Investments Group Ltd. grew its holdings in shares of Clipper Realty by 161.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 12,673 shares of the company’s stock valued at $48,000 after acquiring an additional 7,824 shares in the last quarter. Abel Hall LLC bought a new position in shares of Clipper Realty in the 3rd quarter valued at about $52,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Clipper Realty by 48.0% in the 4th quarter. Wells Fargo & Company MN now owns 15,485 shares of the company’s stock valued at $59,000 after acquiring an additional 5,023 shares in the last quarter. Institutional investors and hedge funds own 37.57% of the company’s stock.

About Clipper Realty

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.