Zacks: Analysts Expect Clipper Realty Inc (CLPR) Will Announce Quarterly Sales of $27.68 Million

Brokerages predict that Clipper Realty Inc (NYSE:CLPR) will announce sales of $27.68 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Clipper Realty’s earnings, with the lowest sales estimate coming in at $27.20 million and the highest estimate coming in at $28.15 million. Clipper Realty reported sales of $25.26 million during the same quarter last year, which indicates a positive year-over-year growth rate of 9.6%. The company is expected to announce its next quarterly earnings report on Monday, May 21st.

On average, analysts expect that Clipper Realty will report full-year sales of $114.20 million for the current fiscal year, with estimates ranging from $111.60 million to $116.80 million. For the next fiscal year, analysts anticipate that the business will report sales of $125.27 million per share, with estimates ranging from $120.50 million to $130.03 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Clipper Realty.

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Clipper Realty (NYSE:CLPR) last issued its quarterly earnings results on Thursday, March 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.14). The business had revenue of $27.32 million during the quarter, compared to analyst estimates of $26.41 million. Clipper Realty had a negative net margin of 2.28% and a negative return on equity of 0.51%.

Several equities research analysts have recently issued reports on the company. B. Riley assumed coverage on Clipper Realty in a research report on Monday, March 12th. They issued a “buy” rating and a $16.00 price target on the stock. Zacks Investment Research raised Clipper Realty from a “strong sell” rating to a “hold” rating in a research report on Monday, February 5th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $15.00.

Several large investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Clipper Realty by 1.6% in the fourth quarter. BlackRock Inc. now owns 726,480 shares of the company’s stock valued at $7,259,000 after purchasing an additional 11,667 shares during the last quarter. CI Investments Inc. grew its position in shares of Clipper Realty by 19.0% in the fourth quarter. CI Investments Inc. now owns 346,428 shares of the company’s stock valued at $3,461,000 after purchasing an additional 55,328 shares during the last quarter. State Street Corp grew its position in shares of Clipper Realty by 410.5% in the second quarter. State Street Corp now owns 158,246 shares of the company’s stock valued at $1,952,000 after purchasing an additional 127,246 shares during the last quarter. Kennedy Capital Management Inc. acquired a new stake in Clipper Realty during the fourth quarter worth about $1,273,000. Finally, Bank of New York Mellon Corp grew its position in Clipper Realty by 61.8% during the fourth quarter. Bank of New York Mellon Corp now owns 97,564 shares of the company’s stock worth $975,000 after buying an additional 37,272 shares in the last quarter. 56.76% of the stock is currently owned by institutional investors.

Shares of NYSE:CLPR traded down $0.10 during midday trading on Tuesday, hitting $8.16. The company’s stock had a trading volume of 47,602 shares, compared to its average volume of 30,743. The company has a market cap of $147.13, a P/E ratio of 21.47 and a beta of -0.17. Clipper Realty has a fifty-two week low of $7.64 and a fifty-two week high of $13.00.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 22nd were given a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend was Wednesday, March 21st. Clipper Realty’s dividend payout ratio is currently 100.00%.

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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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Earnings History and Estimates for Clipper Realty (NYSE:CLPR)

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