Should You Invest in Clipper Realty (CLPR)?

·2 min read

Rhizome Partners, an investment management company, released its third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund generated a 4.8% net loss compared to a 4.9% loss for the S&P 500 Index and a 10.8% loss for the National Association of Real Estate Investment Trusts (NAREIT). The hedging efforts of the fund generated a gain of 2.9% during the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Rhizome Partners highlighted stocks like Clipper Realty Inc. (NYSE:CLPR) in its Q3 2022 investor letter. Clipper Realty Inc. (NYSE:CLPR) is a real estate company. On December 6, 2022, Clipper Realty Inc. (NYSE:CLPR) stock closed at $7.28 per share. One-month return of Clipper Realty Inc. (NYSE:CLPR) was 13.22% and its shares lost 23.53% of their value over the last 52 weeks. Clipper Realty Inc. (NYSE:CLPR) has a market capitalization of $308.531 million.

Rhizome Partners made the following comment about Clipper Realty Inc. (NYSE:CLPR) in its Q3 2022 investor letter:

Clipper Realty Inc. (NYSE:CLPR) experienced sizable rent and occupancy increases in all their properties. From Covid lows, average rent has increased 40%, 13%, and 12% for Clover House, 10 West 65th St., and Tribeca House, respectively. Rent increases at Tribeca House have had the largest impact because it has the greatest number of market-rate units. The properties are 98% leased and the rent-collection rate was 97.3% in the second quarter. Vacancy in New York City continues to remain tight.”

Real Estate
Real Estate

Photo by Owen Lystrup on Unsplash

Clipper Realty Inc. (NYSE:CLPR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 3 hedge fund portfolios held Clipper Realty Inc. (NYSE:CLPR) at the end of the third quarter, which was 2 in the previous quarter.

We discussed Clipper Realty Inc. (NYSE:CLPR) in another article and shared Rhizome Partners’ views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.