Advertisement
Canada markets open in 4 hours 8 minutes

  • S&P/TSX

    22,011.72
    +139.76 (+0.64%)
     

  • S&P 500

    5,070.55
    +59.95 (+1.20%)
     

  • DOW

    38,503.69
    +263.71 (+0.69%)
     

  • CAD/USD

    0.7311
    -0.0009 (-0.13%)
     

  • CRUDE OIL

    83.03
    -0.33 (-0.40%)
     

  • Bitcoin CAD

    90,918.18
    +268.52 (+0.30%)
     

  • CMC Crypto 200

    1,432.59
    +8.49 (+0.60%)
     

  • GOLD FUTURES

    2,331.40
    -10.70 (-0.46%)
     

  • RUSSELL 2000

    2,002.64
    +35.17 (+1.79%)
     

  • 10-Yr Bond

    4.5980
    -0.0250 (-0.54%)
     

  • NASDAQ futures

    17,701.25
    +94.50 (+0.54%)
     

  • VOLATILITY

    15.82
    +0.13 (+0.83%)
     

  • FTSE

    8,081.21
    +36.40 (+0.45%)
     

  • NIKKEI 225

    38,460.08
    +907.92 (+2.42%)
     

  • CAD/EUR

    0.6837
    +0.0001 (+0.01%)
     

Strength Seen in Clipper Realty Inc. (CLPR): Can Its 8.6% Jump Turn into More Strength?

Zacks Equity Research
Updated ·2 min read

Clipper Realty Inc. CLPR shares soared 8.6% in the last trading session to close at $5.80. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 16.7% loss over the past four weeks.

The increased optimism in the stock stems from the recovering residential real estate industry fundamentals.

This company is expected to post quarterly funds from operations (FFO) of $0.11 per share in its upcoming report, which represents a year-over-year change of +10%. Revenues are expected to be $34.89 million, up 8.9% from the year-ago quarter.

While FFO and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in FFO estimate revisions and near-term stock price movements.

ADVERTISEMENT

For Clipper Realty Inc., the consensus FFO per share estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in FFO estimate revisions. So, make sure to keep an eye on CLPR going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Clipper Realty Inc. belongs to the Zacks REIT and Equity Trust - Other industry. Another stock from the same industry, EastGroup Properties EGP, closed the last trading session 0.5% lower at $164.60. Over the past month, EGP has returned 3.5%.

EastGroup Properties' consensus FFO per share estimate for the upcoming report has changed +0.5% over the past month to $1.82. Compared to the company's year-ago FFO per share, this represents a change of +8.3%. EastGroup Properties currently boasts a Zacks Rank of #2 (Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Clipper Realty Inc. (CLPR) : Free Stock Analysis Report

EastGroup Properties, Inc. (EGP) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research