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

CLIPPER RLTY IN/SH 144A (NYSE:CLPR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage presently has a $15.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.90% from the stock’s current price.

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 upgraded shares of CLIPPER RLTY IN/SH 144A from a “hold” rating to a “buy” rating in a research report on Friday, October 19th.

NYSE:CLPR opened at $13.17 on Monday. CLIPPER RLTY IN/SH 144A has a one year low of $7.62 and a one year high of $14.38. The company has a market cap of $236.73 million, a P/E ratio of 34.66 and a beta of 0.41.

Large investors have recently bought and sold shares of the stock. FMR LLC acquired a new stake in CLIPPER RLTY IN/SH 144A during the 3rd quarter worth approximately $17,960,000. Citadel Advisors LLC acquired a new stake in CLIPPER RLTY IN/SH 144A during the 3rd quarter worth approximately $212,000. BlackRock Inc. boosted its position in CLIPPER RLTY IN/SH 144A by 1.0% during the 2nd quarter. BlackRock Inc. now owns 736,240 shares of the company’s stock worth $6,287,000 after buying an additional 7,330 shares during the period. B. Riley Financial Inc. bought a new position in CLIPPER RLTY IN/SH 144A during the 3rd quarter worth approximately $570,000. Finally, Northern Trust Corp raised its holdings in CLIPPER RLTY IN/SH 144A by 3.3% during the 2nd quarter. Northern Trust Corp now owns 162,332 shares of the company’s stock worth $1,386,000 after purchasing an additional 5,233 shares during the last quarter. Institutional investors and hedge funds own 57.90% of the company’s stock.

About CLIPPER RLTY IN/SH 144A

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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