Clipper Realty (CLPR) Given “Buy” Rating at Raymond James Financial
Clipper Realty (NYSE:CLPR)‘s stock had its “buy” rating reissued by equities researchers at Raymond James Financial in a research report issued on Monday. They currently have a $14.00 target price on the stock. Raymond James Financial’s price objective indicates a potential upside of 40.00% from the stock’s current price.
CLPR has been the subject of a number of other research reports. FBR & Co restated a “buy” rating and issued a $16.00 target price on shares of Clipper Realty in a report on Friday, October 27th. Zacks Investment Research raised shares of Clipper Realty from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. JMP Securities began coverage on shares of Clipper Realty in a research note on Monday, October 9th. They issued an “outperform” rating and a $17.00 price target on the stock. Finally, B. Riley reaffirmed a “buy” rating on shares of Clipper Realty in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $14.75.
Clipper Realty (NYSE:CLPR) traded down $0.15 on Monday, hitting $10.00. The stock had a trading volume of 54,300 shares, compared to its average volume of 77,300. The stock has a market capitalization of $180.80 and a price-to-earnings ratio of 29.00. Clipper Realty has a one year low of $9.43 and a one year high of $15.00.
In related news, Director Sam Levinson purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were acquired at an average cost of $9.83 per share, with a total value of $98,300.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
A number of institutional investors have recently bought and sold shares of CLPR. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Clipper Realty in the third quarter valued at about $114,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Clipper Realty in the third quarter valued at about $143,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Clipper Realty in the second quarter valued at about $180,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Clipper Realty in the second quarter valued at about $189,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Clipper Realty in the second quarter valued at about $196,000. 57.08% of the stock is currently owned by hedge funds and other institutional investors.
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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