Zacks Investment Research Upgrades CLIPPER RLTY IN/SH 144A (CLPR) to “Buy”

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Zacks Investment Research upgraded shares of CLIPPER RLTY IN/SH 144A (NYSE:CLPR) from a hold rating to a buy rating in a report issued on Monday. Zacks Investment Research currently has $15.00 price target on the stock.

According to Zacks, “Clipper Realty Inc. is a real estate investment trust. The Company specializes in acquiring, owning, repositioning, operating and managing asset. Clipper Realty Inc. is headquartered in Brooklyn, New York. “

Separately, ValuEngine raised CLIPPER RLTY IN/SH 144A from a hold rating to a buy rating in a research report on Friday, October 19th.

Shares of CLPR traded up $0.01 on Monday, reaching $13.21. 8,648 shares of the company’s stock traded hands, compared to its average volume of 29,760. The company has a market capitalization of $235.13 million, a price-to-earnings ratio of 34.76 and a beta of 0.41. CLIPPER RLTY IN/SH 144A has a 52-week low of $7.62 and a 52-week high of $14.38.

A number of large investors have recently added to or reduced their stakes in the business. FMR LLC purchased a new position in shares of CLIPPER RLTY IN/SH 144A in the third quarter valued at $17,960,000. Monashee Investment Management LLC purchased a new position in shares of CLIPPER RLTY IN/SH 144A in the third quarter valued at $2,570,000. Renaissance Technologies LLC purchased a new position in shares of CLIPPER RLTY IN/SH 144A in the third quarter valued at $923,000. B. Riley Financial Inc. purchased a new position in shares of CLIPPER RLTY IN/SH 144A in the third quarter valued at $570,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of CLIPPER RLTY IN/SH 144A in the third quarter valued at $475,000. 57.90% of the stock is owned by institutional investors and hedge funds.

CLIPPER RLTY IN/SH 144A Company Profile

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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