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Clipper Realty
(NYSE:CLPR)
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Rating:50Neutral
Price Target:
$3.00
▼(-12.54% Downside)
Action:Reiterated
Date:09/07/26
The score is held down primarily by weak financial quality—especially negative equity/high leverage and ongoing net losses alongside a sharp TTM revenue decline—despite solid recent cash flow. Technicals are moderately supportive with improving momentum and neutral oscillators, and valuation is helped by a high dividend yield but limited by loss-driven negative P/E. Corporate events add risk due to the 250 Livingston loan situation.
Positive Factors
Positive cash generation
Consistently positive operating cash flow and strong TTM free cash flow provide internal funding capacity for property operations, debt service, and selective investment. This cash-generation base is a durable strength, although its sustainability should be assessed against the company’s continuing accounting losses.
Negative Factors
Negative equity and high leverage
Negative equity and substantial debt materially reduce the company’s financial cushion and flexibility. High leverage can constrain investment, increase sensitivity to property values and financing conditions, and leave fewer resources available to absorb operating weakness or refinance obligations.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive cash generation
Consistently positive operating cash flow and strong TTM free cash flow provide internal funding capacity for property operations, debt service, and selective investment. This cash-generation base is a durable strength, although its sustainability should be assessed against the company’s continuing accounting losses.
Read all positive factors
Clipper Realty (CLPR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$51.87M
Dividend Yield11.84%
Average Volume (3M)62.05K
Price to Earnings (P/E)―
Beta (1Y)0.67
Revenue Growth-1.72%
EPS Growth8.74%
CountryUS
Employees161
SectorReal Estate
Sector Strength53
IndustryREIT - Residential
Share Statistics
EPS (TTM)-0.60
Shares Outstanding16,157,566
10 Day Avg. Volume38,338
30 Day Avg. Volume62,052
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)$154.56M
Clipper Realty Business Overview & Revenue Model
Company Description
Clipper Realty Inc. is a self-administered and self-managed real estate company that acquires, owns, manages, operates, and repositions multifamily residential and commercial properties in the New York metropolitan area, with a portfolio in Manhat...
How the Company Makes Money
Clipper Realty makes money primarily by operating income-producing real estate and collecting rents from tenants. Its main revenue streams are (1) residential rental income from multifamily apartments, including rent from market-rate and regulated...
Clipper Realty Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 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
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 151.46M | 153.20M | 148.78M | 138.21M | 129.75M | 122.73M |
| Gross Profit | 67.09M | 122.81M | 84.84M | 75.64M | 67.88M | 63.28M |
| EBITDA | 60.44M | 64.45M | 70.31M | 58.24M | 54.62M | 47.03M |
| Net Income | -12.66M | -19.90M | -2.50M | -5.90M | -4.76M | -7.59M |
Balance Sheet | ||||||
| Total Assets | 1.22B | 1.23B | 1.29B | 1.25B | 1.23B | 1.23B |
| Cash, Cash Equivalents and Short-Term Investments | 37.70M | 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 | 1.33B | 1.32B | 1.30B | 1.24B | 1.19B | 1.16B |
| Stockholders Equity | -40.09M | -30.71M | -5.41M | 2.74M | 14.09M | 26.51M |
Cash Flow | ||||||
| Free Cash Flow | 20.56M | 22.57M | 31.86M | 26.18M | 20.14M | -24.71M |
| Operating Cash Flow | 25.53M | 22.57M | 31.86M | 26.18M | 20.14M | 10.82M |
| Investing Cash Flow | -10.84M | 12.09M | -68.78M | -41.36M | -51.48M | -77.94M |
| Financing Cash Flow | -12.95M | -14.56M | 38.75M | 20.73M | 9.78M | 30.31M |
Clipper Realty Technical Analysis
Positive
3.43
Price Trends
2.94
Positive
2.99
Positive
3.05
Positive
Market Momentum
0.10
Positive
55.17
Neutral
17.12
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CLPR, the sentiment is Positive. The current price of 3.43 is above the 20-day moving average (MA) of 3.22, above the 50-day MA of 2.94, and above the 200-day MA of 3.05, indicating a neutral trend. The MACD of 0.10 indicates Positive momentum. The RSI at 55.17 is Neutral, neither overbought nor oversold. The STOCH value of 17.12 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CLPR.
Clipper Realty Risk Analysis
Clipper Realty disclosed 61 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 |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
60 Neutral | $101.10M | 7.71 | 7.12% | 16.04% | 86.13% | -8.21% | |
59 Neutral | $935.07M | 41.03 | 3.03% | 5.82% | 30.53% | ― | |
50 Neutral | $51.87M | -5.39 | 38.31% | 11.84% | -1.72% | 8.74% | |
50 Neutral | $269.68M | -20.50 | -7.46% | 6.97% | 1.18% | -39.73% | |
47 Neutral | $610.02M | -18.15 | -11.75% | 8.83% | -0.46% | 32.70% |
* Real Estate Sector Average
CLPR
Clipper Realty
3.21
-0.72
-18.30%
CSR
Centerspace
52.90
-4.58
-7.97%
BRT
BRT Apartments
14.35
-0.37
-2.49%
NXRT
NexPoint Residential
23.78
-8.34
-25.96%
BHM
Bluerock Homes Trust, Inc. Class A
8.85
-3.34
-27.42%
SUNS
Sunrise Realty Trust Inc
7.48
-2.12
-22.09%
Clipper Realty Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Clipper Realty Begins Joint Marketing of 250 Livingston Loan
Negative
Jul 2, 2026
On May 31, 2019, Clipper Realty subsidiary 250 Livingston Owner LLC entered into a $125.0 million loan agreement secured by the 250 Livingston Street property in Brooklyn, New York, with notes maturing June 6, 2029 at a 3.63% interest rate and int...
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...
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.