Clipper Realty Inc (CLPR) Lowered to “Strong Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Clipper Realty Inc (NASDAQ:CLPR) from a hold rating to a strong sell rating in a research note released on Tuesday.

According to Zacks, “Clipper Realty Inc. is a real estate investment trust. The Company specializes in acquiring, owning, repositioning, operating and managing asset. Clipper Realty Inc. is headquartered in Brooklyn, New York. “

Other research analysts have also issued research reports about the stock. JMP Securities assumed coverage on shares of Clipper Realty in a research note on Monday, October 9th. They set an outperform rating and a $17.00 price target on the stock. FBR & Co restated a buy rating and set a $16.00 price target on shares of Clipper Realty in a research note on Friday, October 27th.

Shares of Clipper Realty (CLPR) opened at 10.95 on Tuesday. The company’s 50-day moving average is $11.04 and its 200-day moving average is $11.26. The stock’s market capitalization is $195.04 million. Clipper Realty has a 12 month low of $9.98 and a 12 month high of $15.00.

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The firm also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Monday, November 6th will be paid a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.38 annualized dividend and a dividend yield of 3.50%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. acquired a new position in shares of Clipper Realty during the 2nd quarter worth $3,233,000. American Financial Group Inc. acquired a new position in shares of Clipper Realty during the 2nd quarter worth $13,711,000. Bank of New York Mellon Corp acquired a new position in Clipper Realty in the 1st quarter valued at $217,000. Citadel Advisors LLC acquired a new position in Clipper Realty in the 1st quarter valued at $162,000. Finally, Rhumbline Advisers acquired a new position in Clipper Realty in the 2nd quarter valued at $226,000.

Clipper Realty Company Profile

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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