JMP Securities started coverage on shares of Clipper Realty Inc (NASDAQ:CLPR) in a research report issued on Monday. The firm set an “outperform” rating and a $17.00 price target on the stock. JMP Securities’ price objective would suggest a potential upside of 47.06% from the company’s previous close.
Separately, Zacks Investment Research upgraded shares of Clipper Realty from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th.
Shares of Clipper Realty (NASDAQ CLPR) opened at 11.56 on Monday. Clipper Realty has a 12 month low of $10.24 and a 12 month high of $15.00. The firm’s market cap is $205.91 million. The stock has a 50 day moving average of $10.93 and a 200 day moving average of $10.93.
Several institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its stake in shares of Clipper Realty by 132.5% during the 2nd quarter. California State Teachers Retirement System now owns 26,500 shares of the company’s stock worth $327,000 after purchasing an additional 15,100 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Clipper Realty in the second quarter worth approximately $180,000. State Street Corp boosted its position in shares of Clipper Realty by 410.5% in the second quarter. State Street Corp now owns 158,246 shares of the company’s stock worth $1,952,000 after acquiring an additional 127,246 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Clipper Realty by 2,540.3% in the second quarter. Vanguard Group Inc. now owns 320,236 shares of the company’s stock worth $3,952,000 after acquiring an additional 308,107 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Clipper Realty by 374.0% in the second quarter. Northern Trust Corp now owns 58,270 shares of the company’s stock worth $719,000 after acquiring an additional 45,976 shares during the last quarter.
About Clipper Realty
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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