Shares of Clipper Realty Inc. (NYSE:CLPR) have earned a consensus broker rating score of 1.33 (Strong Buy) from the three analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy rating and two have assigned a strong buy rating to the company. Clipper Realty’s rating score has improved by 11.3% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a 1 year consensus target price of $15.67 for the company and are forecasting that the company will post $0.10 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Clipper Realty an industry rank of 198 out of 265 based on the ratings given to related companies.
A number of brokerages have commented on CLPR. Zacks Investment Research upgraded shares of Clipper Realty from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. FBR & Co restated a “buy” rating and issued a $16.00 target price on shares of Clipper Realty in a research note on Friday, October 27th. JMP Securities began coverage on shares of Clipper Realty in a research note on Monday, October 9th. They issued an “outperform” rating and a $17.00 target price on the stock. B. Riley restated a “buy” rating on shares of Clipper Realty in a research note on Wednesday, November 1st. Finally, Raymond James Financial restated a “buy” rating and issued a $14.00 target price on shares of Clipper Realty in a research note on Monday, December 4th.
A number of hedge funds have recently modified their holdings of CLPR. Nomura Asset Management Co. Ltd. bought a new position in Clipper Realty in the 3rd quarter worth about $114,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Clipper Realty during the third quarter valued at approximately $143,000. The Manufacturers Life Insurance Company bought a new position in shares of Clipper Realty during the second quarter valued at approximately $180,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Clipper Realty during the second quarter valued at approximately $189,000. Finally, New York State Common Retirement Fund bought a new position in shares of Clipper Realty during the second quarter valued at approximately $196,000. Institutional investors and hedge funds own 57.08% of the company’s stock.
Shares of Clipper Realty (CLPR) opened at $10.19 on Friday. Clipper Realty has a 1 year low of $9.43 and a 1 year high of $15.00. The firm has a market cap of $182.58 and a PE ratio of 29.29.
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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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