Clipper Realty: 8% Dividend Yield From Significantly Undervalued US Multifamily REIT, I'm Buying

peeterv/E+ via Getty Images New York-focused multifamily REIT Clipper Realty (NYSE:CLPR) is a strong buy as rate cuts come into focus and with the common shares trading hands at 7.1x times annualized fiscal 2024 second quarter FFO. The REIT last declared a quarterly cash dividend of $0.095 per share, unchanged from its prior distribution, and $0.38 per share annualized for an 8% dividend yield. CLPR has kept its dividend stable since its onset with the dividend 179% covered by second-quarter FFO of $0.17 pe ...