Clipper Realty Inc (CLPR) Coverage Initiated by Analysts at JMP Securities

JMP Securities began coverage on shares of Clipper Realty Inc (NASDAQ:CLPR) in a report published on Monday morning, Marketbeat.com reports. The firm issued an outperform rating and a $17.00 price objective on the stock.

Separately, Zacks Investment Research raised shares of Clipper Realty from a sell rating to a hold rating in a research note on Wednesday, August 30th.

Shares of Clipper Realty (NASDAQ CLPR) opened at 11.48 on Monday. The stock’s market capitalization is $204.48 million. Clipper Realty has a 52-week low of $10.24 and a 52-week high of $15.00. The stock has a 50 day moving average price of $10.97 and a 200-day moving average price of $10.97.

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A number of hedge funds have recently added to or reduced their stakes in CLPR. Citadel Advisors LLC purchased a new stake in Clipper Realty in the 1st quarter worth approximately $162,000. The Manufacturers Life Insurance Company purchased a new stake in Clipper Realty in the 2nd quarter worth approximately $180,000. Teachers Insurance & Annuity Association of America purchased a new stake in Clipper Realty in the 2nd quarter worth approximately $189,000. New York State Common Retirement Fund purchased a new stake in Clipper Realty in the 2nd quarter worth approximately $196,000. Finally, Bank of New York Mellon Corp purchased a new stake in Clipper Realty in the 1st quarter worth approximately $217,000.

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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