Clipper Realty Inc
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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. As of June 30, 2016, it also owned a residential property complex in the East Flatbush neighborhood of Brooklyn consisting of 59 buildings, referred to as the Flatbush Gardens properties or complex. As of June 30, 2016, it owned two primarily commercial properties in Downtown Brooklyn (one of which included 36 residential apartment units), referred to as the 141 Livingston Street property and the 250 Livingston Street property, and also owned the Aspen property.

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0.14 (1.74%)
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Today's volume of 15,962 shares is on pace to be much lighter than CLPR's 10-day average volume of 82,968 shares.


UPDATE: Tesla, Nio stocks surge after Mizuho analyst said buy the EV leaders

3:07 pm ET March 11, 2021 (MarketWatch)

Tomi Kilgore

Analyst Vijay Rakesh's price target for Tesla is 12% above current levels, while Nio's target suggests a 32% rise

Shares of Tesla Inc. and Nio Inc. rallied Thursday, after Mizuho analyst Vijay Rakesh recommended investors buy the respective leaders in their electric vehicle markets, while setting bullish price targets.

Tesla's stock (TSLA) jumped 3.6% in afternoon trading, after falling 5.3% so far this year through Wednesday. China-based Nio's stock (NIO) shot up 9.8%, after suffering a 15.2% year-to-date drop. In comparison, the S&P 500 index had gained 3.8% this year through Wednesday.

Rakesh initiated coverage of Tesla with a buy rating, making him one of just 11 of 35 analysts surveyed by FactSet who are bullish. He set a stock price target of $775, which is 12% above current levels. The average target of analysts surveyed by FactSet is $631.71.

Rakesh said Tesla is a "100-year disruptor driving an electric future" for the light vehicle production (LVP) market. He said it isn't just EV production that gives Tesla "defensible EV leadership" in the global market, the company's advanced battery and advanced drive assistance systems (ADAS) also provide a moat.

"Tesla drives the tip of the spear in battery development for EVs," Rakesh wrote in a note to clients.

"With Tesla's cutting-edge battery technology driving key leadership in the EV market and providing sustainable energy storage for residential and industrial applications, disrupting the global energy market, we see [Tesla] as a leader for the next decade and beyond," Rakesh wrote.

With less than 1% share of the global LVP market, he believes Tesla has room for "significant" growth, as EVs are expected to grow to 25% of global LVP by 2025, compared with current share of 3% to 4%.

The bullish call comes after a volatile period for Tesla's stock, which recently entered a "bear market" ( for the third time in a year, then enjoyed its biggest one-day gain in more than a year ( earlier this week.

For Nio, Rakesh started coverage with a buy rating, and set his price target at $60, which is 32% above current levels. Rakesh becomes one of 11 of 19 analysts surveyed by FactSet who are bullish, but his price target is the lowest of those in the bullish camp.

"Nio has a key differentiation from peers: a premium EV offering with a lower cost of ownership through its novel Battery-as-a-Service ('BaaS') battery swap module," Rakesh wrote.

He noted that Nio's BaaS program enables a 5-to-10 minute battery swap for customers, while maintaining eligibility for China's national subsidies. That cuts upfront buying costs for customers by 35% to 50%.

"While Nio is focused on the premium EV segment, a China subsidy and an innovative BaaS program make Nio's cars eminently affordable compared to competing brands, such as Tesla," Rakesh wrote.

Also read: Forget Nio and XPeng. This company and Tesla will be the top two electric-vehicle plays by 2025, says UBS (

With a small 0.1% share of the global LVP market, he believes Nio has significant growth potential as it expands in China, into Europe in the second half of 2021 and potentially into other markets.

Nio's stock has also been volatile of late, as after more than doubling in the fourth quarter, and running up another 17% in January, it reached a record close of $62.84 on Feb. 9. It has pulled back sharply since then, closing Wednesday 34.2% below its record.

Despite recent volatility, Tesla's stock has still soared 445.5% over the past 12 months and Nio shares have rocketed 1,266.6%, while the S&P 500 has advanced 43.9%.

-Tomi Kilgore; 415-439-6400;


(END) Dow Jones Newswires

March 11, 2021 15:07 ET (20:07 GMT)

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