Clipper Realty Inc (CLPR)
NYSE:CLPR
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Clipper Realty
(NYSE:CLPR)
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Rating:43Neutral
Price Target:
$3.00
▼(-28.40% Downside)
Action:Reiterated
Date:06/19/26
The score is weighed down primarily by balance-sheet stress (high leverage/negative equity) and recent profitability pressure (net losses and a large AFFO decline tied to 250 Livingston). Strong residential leasing and a high dividend provide support, but technicals are neutral-to-weak and office/default-related uncertainty remains a key risk.
Positive Factors
Residential Leasing & Rent Growth
Sustained pricing power and near-perfect collections indicate structurally strong demand in the core NYC multifamily portfolio. Higher new-lease spreads and reliable collections support recurring cash flow and NOI durability, making operating performance less cyclical and strengthening long-term revenue predictability.
Negative Factors
Very High Leverage and Negative Equity
Negative/very thin equity and large debt relative to assets materially constrain financial flexibility and elevate refinancing and credit risk. This structural capital weakness increases the probability of lender-driven remedies under stress, limits ability to raise equity on favorable terms, and amplifies downside volatility.
Read all positive and negative factors
Positive Factors
Negative Factors
Residential Leasing & Rent Growth
Sustained pricing power and near-perfect collections indicate structurally strong demand in the core NYC multifamily portfolio. Higher new-lease spreads and reliable collections support recurring cash flow and NOI durability, making operating performance less cyclical and strengthening long-term revenue predictability.
Read all positive factors
Clipper Realty (CLPR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$49.28M
Dividend Yield11.34%
Average Volume (3M)63.06K
Price to Earnings (P/E)―
Beta (1Y)0.57
Revenue Growth-0.32%
EPS Growth20.12%
CountryUS
Employees171
SectorReal Estate
Sector Strength53
IndustryREIT - Residential
Share Statistics
EPS (TTM)-0.61
Shares Outstanding16,157,566
10 Day Avg. Volume69,346
30 Day Avg. Volume63,056
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)-5.28
Price to Sales (P/S)1.06
P/FCF Ratio7.19
Enterprise Value/Market Cap26.43
Enterprise Value/Revenue8.57
Enterprise Value/Gross Profit19.39
Enterprise Value/Ebitda21.54
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)$161.00M
Clipper Realty Business Overview & Revenue Model
Company Description
Clipper Realty Inc. (NYSE: CLPR) is an internally managed real estate firm specializing in the acquisition, ownership, operation, and strategic repositioning of residential and commercial properties. Its portfolio is primarily located throughout t...
How the Company Makes Money
Clipper Realty primarily makes money by operating income-producing real estate. Its key revenue stream is rental revenue from residential tenants in its multifamily portfolio; this is generally earned through monthly lease payments and may also in...
Clipper Realty Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Negative
The call highlighted very strong residential performance — record rents, high occupancy (≈99%), solid rent growth (+7% new free-market leases, +5% renewals), nearly full lease-up at Prospect House, healthy rent collections (~100%), and a conservative debt profile with meaningful cash balances. However, material negatives outweighed these positives this quarter: AFFO declined sharply (~-71%), driven primarily by the termination/default situation at 250 Livingston Street (major NOI/AFFO hit and unresolved lender negotiations), lease-up expenses at Prospect House, sale-related revenue loss, and litigation settlement costs. Given the size and immediacy of the AFFO and office-related impacts, the overall tone is cautious to negative despite operational strength in the residential portfolio.Positive Updates
Strong Residential Leasing and Rent Growth
Residential portfolio performing very well with near-full occupancy and record rents. New free-market leases in Q1 exceeded prior rents by >7% and renewals were ~5% higher. Residential revenue increased by $2.7M (≈+9% YoY). Rent collections for premarket residential properties were ~100%.
Negative Updates
Material AFFO Decline
AFFO fell to $2.3M in Q1 from $8.0M last year, a decrease of $5.7M (≈-71%), driven largely by the 250 Livingston Street lease termination and initial lease-up expenses at Prospect House.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Residential Leasing and Rent Growth
Residential portfolio performing very well with near-full occupancy and record rents. New free-market leases in Q1 exceeded prior rents by >7% and renewals were ~5% higher. Residential revenue increased by $2.7M (≈+9% YoY). Rent collections for premarket residential properties were ~100%.
Read all positive updates
Company Guidance
Management's guidance emphasized continued strong residential demand and pricing power — new free‑market leases were >7% above prior rents (renewals +5%), overall residential leasing ~99% leased (Tribeca House 99% with overall $90/ft and new $92/ft; Clover House 99% at $90/ft and new $95/ft; Pacific House 98% at $66/ft; Aspen >98% with new rents +8%), Prospect House nearly fully leased with pre‑market rents ~$78/ft (160,000 rentable sf, 240 units, 70% free‑market/30% affordable, 31 parking, 19,000 commercial sf), and rent collections ~100% for pre‑market residential. Financials and balance sheet metrics cited: Q1 revenue $38.1M (vs $39.4M), NOI $20.1M (vs $21.7M), AFFO $2.3M (vs $8.0M); residential revenue +$2.7M (+9%), office revenue -$4.0M (250 Livingston -$4.2M); unrestricted cash $26.1M, restricted cash $28.6M; operating debt 89% fixed at a 3.87% average rate and 3.4‑year average duration; and a Q1 dividend of $0.095/share — while they work to stabilize Prospect House and resolve 250 Livingston's capitalization (negotiating a consent/cooperation with the lender).Clipper Realty Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
18
Very Negative
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 151.92M | 153.20M | 148.78M | 138.21M | 129.75M | 122.73M |
| Gross Profit | 67.17M | 122.81M | 84.84M | 75.64M | 67.88M | 63.28M |
| EBITDA | 60.47M | 64.45M | 70.31M | 58.24M | 54.62M | 47.03M |
| Net Income | -10.79M | -19.90M | -2.50M | -5.90M | -4.76M | -7.59M |
Balance Sheet | ||||||
| Total Assets | 1.23B | 1.23B | 1.29B | 1.25B | 1.23B | 1.23B |
| Cash, Cash Equivalents and Short-Term Investments | 26.08M | 30.82M | 19.90M | 22.16M | 18.15M | 34.52M |
| Total Debt | 1.28B | 1.28B | 1.27B | 1.21B | 1.16B | 1.13B |
| Total Liabilities | 1.32B | 1.32B | 1.30B | 1.24B | 1.19B | 1.16B |
| Stockholders Equity | -36.34M | -30.71M | -5.41M | 2.74M | 14.09M | 26.51M |
Cash Flow | ||||||
| Free Cash Flow | 3.72M | 22.57M | 31.86M | 26.18M | 20.14M | -24.71M |
| Operating Cash Flow | 19.46M | 22.57M | 31.86M | 26.18M | 20.14M | 10.82M |
| Investing Cash Flow | 19.84M | 12.09M | -68.78M | -41.36M | -51.48M | -77.94M |
| Financing Cash Flow | -25.25M | -14.56M | 38.75M | 20.73M | 9.78M | 30.31M |
Clipper Realty Technical Analysis
Negative
4.19
Price Trends
3.20
Negative
3.19
Negative
3.42
Negative
Market Momentum
<0.01
Positive
48.50
Neutral
12.86
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CLPR, the sentiment is Negative. The current price of 4.19 is above the 20-day moving average (MA) of 3.16, above the 50-day MA of 3.20, and above the 200-day MA of 3.42, indicating a bearish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 48.50 is Neutral, neither overbought nor oversold. The STOCH value of 12.86 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CLPR.
Clipper Realty Risk Analysis
Clipper Realty disclosed 60 risk factors in its most recent earnings report. Clipper Realty reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Clipper Realty Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $114.77M | 8.45 | 7.25% | 12.97% | 139.61% | -2.50% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
58 Neutral | $998.34M | 110.55 | 1.15% | 4.58% | 33.21% | ― | |
54 Neutral | $704.10M | -21.20 | -10.30% | 7.06% | -1.46% | 0.65% | |
53 Neutral | $280.64M | -21.65 | -6.77% | 6.98% | 1.24% | -34.65% | |
43 Neutral | $49.28M | -12.36 | 37.86% | 11.34% | -0.32% | 20.12% |
* Real Estate Sector Average
CLPR
Clipper Realty
3.14
-0.42
-11.72%
CSR
Centerspace
54.89
-4.57
-7.69%
BRT
BRT Apartments
14.71
-0.18
-1.24%
NXRT
NexPoint Residential
26.62
-4.35
-14.05%
BHM
Bluerock Homes Trust, Inc. Class A
9.90
-2.36
-19.22%
SUNS
Sunrise Realty Trust Inc
8.44
-1.18
-12.25%
Clipper Realty Corporate Events
Executive/Board ChangesShareholder Meetings
Clipper Realty Shareholders Back Board, Auditor and Pay Practices
Positive
Jun 18, 2026
At its 2025 Annual Meeting of Stockholders held on June 17, 2026, Clipper Realty Inc. saw shareholders approve all proposals on the agenda, including the election of seven director nominees, thereby maintaining continuity in the company’s bo...
Business Operations and StrategyLegal Proceedings
Clipper Realty Faces Legal Action Over Mortgage Default
Negative
Mar 31, 2026
Clipper Realty subsidiary 250 Livingston Owner LLC, borrower under a $125 million mortgage loan secured by the 250 Livingston Street property in Brooklyn, fell into payment default under a note that matures June 6, 2029 and bears 3.63% interest wi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.