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Fly News Breaks for June 28, 2019
CLPR
Jun 28, 2019 | 08:11 EDT
Shares of Clipper Realty are down 20% after a ruling was issued against the company at one of the Tribeca House buildings, B. Riley FBR analyst Craig Kucera tells investors in a research note. After speaking with management, the analyst believes the market is overreacting to the ruling. He expects a one-time payment to the appellants and a limited impact to rent growth. The analyst reiterates a Buy rating on Clipper Realty with an $18 price target.
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