Teachers Insurance & Annuity Association of America reduced its stake in Clipper Realty Inc (NYSE:CLPR) by 35.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,745 shares of the company’s stock after selling 7,543 shares during the quarter. Teachers Insurance & Annuity Association of America’s holdings in Clipper Realty were worth $184,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CLPR. Bank of New York Mellon Corp lifted its holdings in shares of Clipper Realty by 12.5% during the third quarter. Bank of New York Mellon Corp now owns 83,468 shares of the company’s stock worth $1,129,000 after buying an additional 9,258 shares in the last quarter. BlackRock Inc. grew its position in Clipper Realty by 1.7% in the third quarter. BlackRock Inc. now owns 748,564 shares of the company’s stock valued at $10,128,000 after acquiring an additional 12,324 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in Clipper Realty in the third quarter valued at about $475,000. Renaissance Technologies LLC bought a new position in Clipper Realty in the third quarter valued at about $923,000. Finally, Vanguard Group Inc. grew its position in Clipper Realty by 1.8% in the third quarter. Vanguard Group Inc. now owns 646,633 shares of the company’s stock valued at $8,749,000 after acquiring an additional 11,348 shares during the last quarter. 63.24% of the stock is currently owned by institutional investors.
CLPR has been the topic of a number of recent analyst reports. Zacks Investment Research cut Clipper Realty from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. Raymond James lifted their price target on Clipper Realty from $13.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, March 27th.
Clipper Realty (NYSE:CLPR) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.16). Clipper Realty had a negative net margin of 0.05% and a negative return on equity of 0.03%. The firm had revenue of $27.88 million for the quarter, compared to analyst estimates of $28.36 million. Sell-side analysts anticipate that Clipper Realty Inc will post 0.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Tuesday, May 21st will be paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Monday, May 20th. Clipper Realty’s payout ratio is 84.44%.
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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.
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