Clipper Realty Inc
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Real Estate : Equity Real Estate Investment Trusts (REITs) | Small Cap Blend
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.

Price
Delayed
$8.13
Day's Change
0.08 (0.99%)
Bid
--
Ask
--
B/A Size
--
Day's High
8.16
Day's Low
8.07
Volume
(Above Average)

Today's volume of 12,725 shares is on pace to be greater than CLPR's 10-day average volume of 82,968 shares.

12,725

UPDATE: These semiconductor stocks might benefit the most from Biden's spending plan

9:19 am ET April 3, 2021 (MarketWatch)
Print

By Philip van Doorn

The president wants to set aside money for chip and electric-vehicle companies.

The news about President Biden's massive spending plans highlights infrastructure. But U.S. semiconductor companies may see a big benefit, and stocks in the sector are already starting to perk up.

The iShares PHLX Semiconductor ETF (SOXX) was up 2.4% on March 31, with all 30 its components showing gains for the session. SOXX tracks the PHLX Semiconductor Index . Among the 30 stocks, 15 are down at least 10% from Feb. 16, when SOXX hit its all-time high.

Biden's spending plan

In February, the Semiconductor Industry Association's (SIA) board of directors, which includes CEOs or senior executives of Advanced Micro Devices Inc. (AMD), Nvidia Corp. (NVDA), Qualcomm Inc. (QCOM), Intel Corp. (INTC), Texas Instruments Inc. (TXN) and others, sent a letter to Biden.

They wrote that the U.S. market share of global computer chip manufacturing had "steadily declined" to 12% from 37% in 1990. The SIA board said the loss of market share was largely the result of significant government investment in the semiconductor industry in other countries, while there was none in the U.S. (You can read the entire letter here (https://www.semiconductors.org/semiconductor-industry-leaders-urge-president-biden-to-prioritize-funding-for-semiconductor-manufacturing-research/).)

And now the president is trying to give the U.S. semiconductor industry what it wants. SIA CEO John Neuffer said in a statement on March 31 that Biden's spending program "would invest ambitiously in U.S. semiconductor workers, manufacturing and innovation -- three cornerstones of America's strength and its future."

Investment strategists at Bank of America included chip makers in their list (https://www.marketwatch.com/story/here-are-the-stocks-that-could-benefit-from-4-trillion-of-infrastructure-spending-according-to-bank-of-america-11617187558?mod=home-page) of companies that could benefit from the Biden plan.

The spending package would include $50 billion (https://www.wsj.com/articles/biden-urges-50-billion-to-boost-chip-manufacturing-in-u-s-11617211570) for the American semiconductor industry amid a worldwide shortage of chips. In addition, $174 billion would be set aside to help the U.S. "win (https://www.marketwatch.com/story/biden-infrastructure-plan-includes-pitch-for-electric-vehicle-rebates-tesla-gm-nikola-shares-gain-11617202889?mod=home-page)" the worldwide competition for dominance in the electric-car industry. This would obviously help Tesla Inc. (TSLA), but it would also support manufacturers of the myriad computer chips used in the vehicles.

Chip stocks pare gains

This table shows the 15 semiconductor-industry stocks among the SOX 30 that have declined the most since the close on Feb. 16, the day SOXX hit its all-time high:

Wall Street's favorite semiconductor stocks

Here are the 15 SOXX stocks with the most 12-month upside potential implied by consensus price targets among analysts polled by FactSet:

The table includes forward price-to-earnings ratios. In comparison, the forward P/E ratio for SOXX is 22.7 and the forward P/E for the SPDR S&P 500 ETF Trust (SPY) is 21.8.

Don't miss:These infrastructure stocks could rise up to 41% in a year on Biden's massive spending plan, analysts say (https://www.marketwatch.com/story/these-infrastructure-stocks-could-rise-up-to-41-in-a-year-on-bidens-massive-spending-plan-analysts-say-11617192926)

-Philip van Doorn; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

April 03, 2021 09:19 ET (13:19 GMT)

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