Clipper Realty Inc. (NYSE:CLPR) Sees Significant Drop in Short Interest

Clipper Realty Inc. (NYSE:CLPR) was the recipient of a large decrease in short interest in January. As of January 31st, there was short interest totalling 598,700 shares, a decrease of 7.4% from the January 15th total of 646,600 shares. Currently, 4.4% of the company’s shares are sold short. Based on an average daily trading volume, of 149,500 shares, the short-interest ratio is presently 4.0 days.

Institutional Investors Weigh In On Clipper Realty

A number of hedge funds have recently added to or reduced their stakes in CLPR. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Clipper Realty by 192.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 78,703 shares of the company’s stock worth $449,000 after purchasing an additional 51,819 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Clipper Realty by 6.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,569 shares of the company’s stock valued at $180,000 after buying an additional 1,873 shares in the last quarter. Pitcairn Co. acquired a new position in shares of Clipper Realty during the third quarter valued at about $62,000. Penserra Capital Management LLC increased its position in shares of Clipper Realty by 23.0% during the third quarter. Penserra Capital Management LLC now owns 255,470 shares of the company’s stock worth $1,456,000 after acquiring an additional 47,740 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Clipper Realty by 280.1% in the 3rd quarter. FMR LLC now owns 28,180 shares of the company’s stock worth $161,000 after acquiring an additional 20,767 shares during the last quarter. Institutional investors and hedge funds own 37.57% of the company’s stock.

Clipper Realty Stock Performance

Shares of CLPR stock traded up $0.50 during trading hours on Tuesday, hitting $4.57. 194,055 shares of the company were exchanged, compared to its average volume of 95,553. The company has a 50 day simple moving average of $4.45 and a two-hundred day simple moving average of $5.02. The firm has a market cap of $73.79 million, a P/E ratio of -15.75 and a beta of 1.24. Clipper Realty has a fifty-two week low of $3.38 and a fifty-two week high of $7.12.

Clipper Realty (NYSE:CLPR) last posted its quarterly earnings results on Friday, February 14th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.07. The firm had revenue of $38.05 million during the quarter, compared to the consensus estimate of $38.70 million. Clipper Realty had a negative net margin of 2.17% and a negative return on equity of 85.95%. As a group, sell-side analysts expect that Clipper Realty will post 0.48 EPS for the current fiscal year.

Clipper Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th will be issued a $0.095 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $0.38 annualized dividend and a yield of 8.32%. Clipper Realty’s payout ratio is currently -131.03%.

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.