Raymond James Financial restated their buy rating on shares of Clipper Realty (NYSE:CLPR) in a research note released on Monday morning. Raymond James Financial currently has a $14.00 price objective on the stock.
Other analysts also recently issued research reports about the company. B. Riley reissued a buy rating on shares of Clipper Realty in a report on Wednesday, November 1st. Zacks Investment Research raised Clipper Realty from a hold rating to a buy rating and set a $12.00 price target on the stock in a report on Wednesday, November 29th. JMP Securities began coverage on Clipper Realty in a report on Monday, October 9th. They issued an outperform rating and a $17.00 price target on the stock. Finally, FBR & Co reissued a buy rating and issued a $16.00 price target on shares of Clipper Realty in a report on Friday, October 27th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Clipper Realty currently has an average rating of Buy and a consensus price target of $14.75.
Shares of Clipper Realty (CLPR) opened at $9.90 on Monday. The stock has a market capitalization of $179.02 and a P/E ratio of 28.71. Clipper Realty has a 1-year low of $9.43 and a 1-year high of $15.00.
In other Clipper Realty news, Director Sam Levinson bought 15,000 shares of the business’s stock in a transaction on Monday, November 6th. The shares were purchased at an average price of $10.72 per share, with a total value of $160,800.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
A number of institutional investors have recently made changes to their positions in the business. CI Investments Inc. raised its stake in Clipper Realty by 0.9% during the 2nd quarter. CI Investments Inc. now owns 286,200 shares of the company’s stock valued at $3,532,000 after acquiring an additional 2,600 shares in the last quarter. Nomura Asset Management Co. Ltd. bought a new stake in Clipper Realty during the 3rd quarter valued at $114,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Clipper Realty during the 3rd quarter valued at $143,000. The Manufacturers Life Insurance Company bought a new stake in Clipper Realty during the 2nd quarter valued at $180,000. Finally, California State Teachers Retirement System raised its stake in Clipper Realty by 132.5% during the 2nd quarter. California State Teachers Retirement System now owns 26,500 shares of the company’s stock valued at $327,000 after acquiring an additional 15,100 shares in the last quarter. 57.08% of the stock is currently owned by hedge funds and other institutional investors.
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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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