Clipper Realty (NYSE:CLPR) has been given a $16.00 price target by stock analysts at B. Riley in a research report issued to clients and investors on Friday. The firm presently has a “buy” rating on the stock. B. Riley’s target price points to a potential upside of 59.20% from the company’s previous close.
A number of other equities research analysts have also weighed in on CLPR. Zacks Investment Research upgraded Clipper Realty from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. JMP Securities started coverage on Clipper Realty in a research report on Monday, October 9th. They issued an “outperform” rating and a $17.00 target price for the company. FBR & Co reiterated a “buy” rating and issued a $16.00 target price on shares of Clipper Realty in a research report on Friday, October 27th. Finally, Raymond James Financial reiterated a “buy” rating and issued a $14.00 target price on shares of Clipper Realty in a research report on Monday, December 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $15.00.
Shares of Clipper Realty (CLPR) traded up $0.03 during midday trading on Friday, reaching $10.05. The company’s stock had a trading volume of 38,500 shares, compared to its average volume of 49,967. Clipper Realty has a 12-month low of $9.43 and a 12-month high of $15.00. The firm has a market cap of $178.48 and a price-to-earnings ratio of -50.25.
In other news, Director Sam Levinson bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was bought at an average price of $9.83 per share, for a total transaction of $98,300.00. The purchase was disclosed in a document filed with the SEC, which is available at this link.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. CI Investments Inc. lifted its holdings in shares of Clipper Realty by 1.7% in the 3rd quarter. CI Investments Inc. now owns 291,100 shares of the company’s stock worth $3,118,000 after purchasing an additional 4,900 shares during the last quarter. Nomura Asset Management Co. Ltd. bought a new stake in shares of Clipper Realty in the 3rd quarter worth approximately $114,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Clipper Realty in the 3rd quarter worth approximately $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 institutional investors and hedge funds.
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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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