$29.96 Million in Sales Expected for Clipper Realty Inc (NYSE:CLPR) This Quarter

Wall Street brokerages expect Clipper Realty Inc (NYSE:CLPR) to announce $29.96 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Clipper Realty’s earnings, with estimates ranging from $29.70 million to $30.22 million. Clipper Realty posted sales of $27.95 million in the same quarter last year, which suggests a positive year-over-year growth rate of 7.2%. The company is expected to issue its next quarterly earnings report on Thursday, November 7th.

According to Zacks, analysts expect that Clipper Realty will report full-year sales of $117.25 million for the current financial year, with estimates ranging from $116.90 million to $117.59 million. For the next year, analysts expect that the company will report sales of $130.70 million, with estimates ranging from $129.60 million to $131.80 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Clipper Realty.

Clipper Realty (NYSE:CLPR) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.11 by $0.03. The business had revenue of $28.45 million during the quarter, compared to the consensus estimate of $28.08 million. Clipper Realty had a negative net margin of 0.58% and a negative return on equity of 0.41%.

Several equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Clipper Realty from a “strong-buy” rating to a “hold” rating in a research note on Thursday. ValuEngine downgraded shares of Clipper Realty from a “buy” rating to a “hold” rating in a research note on Friday, July 19th.

CLPR traded up $0.02 during trading on Monday, hitting $11.02. The stock had a trading volume of 11,800 shares, compared to its average volume of 22,505. The company has a market capitalization of $195.96 million, a PE ratio of 24.49 and a beta of 0.05. Clipper Realty has a twelve month low of $9.80 and a twelve month high of $14.38. The stock has a 50 day simple moving average of $11.03 and a two-hundred day simple moving average of $12.48.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Tuesday, August 13th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.38 dividend on an annualized basis and a yield of 3.45%. Clipper Realty’s payout ratio is 84.44%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Clipper Realty by 54.3% during the second quarter. Vanguard Group Inc. now owns 1,119,083 shares of the company’s stock valued at $12,512,000 after buying an additional 393,635 shares in the last quarter. BlackRock Inc. lifted its position in Clipper Realty by 4.2% during the second quarter. BlackRock Inc. now owns 807,040 shares of the company’s stock valued at $9,022,000 after buying an additional 32,795 shares in the last quarter. Northern Trust Corp lifted its position in Clipper Realty by 0.6% during the second quarter. Northern Trust Corp now owns 168,853 shares of the company’s stock valued at $1,888,000 after buying an additional 988 shares in the last quarter. Renaissance Technologies LLC lifted its position in Clipper Realty by 22.1% during the second quarter. Renaissance Technologies LLC now owns 254,557 shares of the company’s stock valued at $2,846,000 after buying an additional 46,005 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Clipper Realty by 6.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 35,812 shares of the company’s stock valued at $401,000 after buying an additional 2,200 shares in the last quarter. 69.57% of the stock is owned by 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.

Further Reading: Compound Annual Growth Rate (CAGR)

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