Clipper Realty (NYSE:CLPR) Cut to “Underperform” at Raymond James

Raymond James cut shares of Clipper Realty (NYSE:CLPR) from an outperform rating to an underperform rating in a research report sent to investors on Monday, Marketbeat reports.

Separately, JMP Securities reaffirmed a market perform rating on shares of Clipper Realty in a report on Thursday, April 11th.

Clipper Realty Trading Down 3.1 %

Clipper Realty stock opened at $3.80 on Monday. The firm has a 50 day moving average of $4.72 and a 200 day moving average of $4.94. The firm has a market capitalization of $61.03 million, a price-to-earnings ratio of -8.44 and a beta of 1.22. Clipper Realty has a 12-month low of $3.65 and a 12-month high of $6.86.

Clipper Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Wednesday, March 27th were issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 10.00%. The ex-dividend date of this dividend was Tuesday, March 26th. Clipper Realty’s dividend payout ratio (DPR) is currently -84.44%.

Institutional Investors Weigh In On Clipper Realty

Institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. purchased a new stake in Clipper Realty during the 4th quarter valued at approximately $26,000. BNP Paribas Arbitrage SNC grew its holdings in shares of Clipper Realty by 73.4% in the third quarter. BNP Paribas Arbitrage SNC now owns 4,391 shares of the company’s stock valued at $31,000 after purchasing an additional 1,858 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Clipper Realty by 232.3% in the first quarter. Tower Research Capital LLC TRC now owns 5,150 shares of the company’s stock valued at $29,000 after purchasing an additional 3,600 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Clipper Realty by 130.5% in the second quarter. Wells Fargo & Company MN now owns 5,293 shares of the company’s stock valued at $30,000 after purchasing an additional 2,997 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Clipper Realty by 51.9% in the first quarter. Deutsche Bank AG now owns 8,531 shares of the company’s stock valued at $49,000 after purchasing an additional 2,916 shares in the last quarter. 37.57% of the stock is owned by hedge funds and other institutional investors.

About Clipper Realty

Clipper Realty Inc (NYSE: CLPR) is a self-administered and self-managed real estate company that acquires, owns, manages, operates, and repositions multifamily residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn.