Clipper Realty Inc. ( (CLPR) ) has released its Q1 earnings. Here is a breakdown of the information Clipper Realty Inc. presented to its investors.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Clipper Realty Inc., a self-managed real estate company, specializes in acquiring, owning, and managing multifamily residential and commercial properties in the New York metropolitan area, with a notable presence in Manhattan and Brooklyn.
In its first quarter of 2025, Clipper Realty Inc. reported record quarterly revenues of $39.4 million, marking a 10% increase from the previous year, driven by strong residential leasing performance. Despite this growth, the company faced a net loss of $35.1 million, primarily due to a significant impairment charge related to the sale of a property.
Key financial metrics for the quarter included a net operating income of $21.8 million, an 8% increase from the previous year, and adjusted funds from operations of $8.0 million, up 36%. The company also declared a dividend of $0.095 per share. Strategic developments included the completion of construction at the Dean Street development and a new lease agreement for the 141 Livingston Street property.
Looking ahead, Clipper Realty Inc. remains focused on capitalizing on strong residential leasing demand and optimizing its property portfolio. The management is actively pursuing solutions for its commercial properties and anticipates the completion of a property sale that is expected to generate substantial cash flow.