Clipper Realty (CLPR) AI Stock Analysis

Clipper Realty

(NYSE:CLPR)

Select Model

Rating:58.8Neutral

Price Target:$3.50▲(8.36% Upside)

Action:reiterated

Date:09/07/26

The overall score reflects solid cash generation and healthy margins constrained by a weak capital structure, including negative equity and significant leverage, alongside heightened financing risk around the 250 Livingston loan; technical indicators point to a modestly positive trend with manageable volatility, and the high dividend yield offers income potential but is tempered by ongoing losses and balance-sheet concerns.

Positive Factors

Positive cash generationConsistently 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 leverageNegative 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.

Clipper Realty (CLPR) vs. SPDR S&P 500 ETF (SPY)

Market Cap: $52.19M
Dividend Yield: 11.76%
Average Volume (3M): 52.85K
Price to Earnings (P/E): -3.5
Beta (1Y): 0.58
Revenue Growth: -1.72%
EPS Growth: 8.74%
Country: US
Employees: 161
Sector: Real Estate
Sector Strength: 65
Industry: REIT - Residential

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 Manhattan...

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 un...

Clipper Realty Earnings Call Summary

Earnings Call Date:May 13, 2026(Q1-2026)|% Change Since:13.81%|Next Earnings Date:Nov 03, 2026

Earnings Call SentimentNegative

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.

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

Revenue has fallen sharply and net income remains negative, while negative equity and historically heavy debt keep financial risk elevated despite solid margins and robust, improving free cash flow.

Income Statement

58Neutral

Balance Sheet

31Negative

Cash Flow

66Positive

Financial statement breakdown
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	60.20M	64.35M	70.31M	58.24M	54.41M	46.80M
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

Technical Analysis SentimentPositive

Last Price3.23

Price Trends

50DMA3.25Negative

100DMA3.07Positive

200DMA3.05Positive

Market Momentum

MACD-0.02Negative

RSI55.38Neutral

STOCH70.60Neutral

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 3.23 is above the 20-day moving average (MA) of 3.14, below the 50-day MA of 3.25, and above the 200-day MA of 3.05, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 55.38 is Neutral, neither overbought nor oversold. The STOCH value of 70.60 is Neutral, 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

1 New Risk

1.Our defaults under the loan secured by our 250 Livingston Street property and the resulting appointment of a temporary receiver and the lender's right to foreclose on or take a deed in lieu of foreclosure to that property could cause a material adverse effect on us, including our financial condition, results of operations and cash flow.Q2, 2026

Clipper Realty Peers Comparison

Overall Rating

UnderperformOutperform

Sector (65)

Financial Indicators

CLPR against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SUNS	66Neutral	$89.34M	6.81	7.12%	18.15%	86.13%	-8.21%
Sector *	65Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
CSR	60Neutral	$1.03B	45.33	3.03%	5.27%	30.53%	―
CLPR	59Neutral	$52.19M	-3.47	38.31%	11.76%	-1.72%	8.74%
BRT	50Neutral	$243.94M	-18.54	-7.46%	7.70%	1.18%	-39.73%
NXRT	47Neutral	$462.52M	-13.76	-11.75%	11.76%	-0.46%	32.70%

* Real Estate Sector Average

Performance Comparison

CLPR and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
CLPR	Clipper Realty Inc.	3.23	-0.10	-2.86%
CSR	Centerspace	58.44	2.45	4.38%
BRT	Brt Apartments Corp.	12.98	-0.78	-5.66%
NXRT	NexPoint Residential	18.03	-10.09	-35.87%
BHM	Bluerock Homes Trust, Inc. Class A	7.65	-1.34	-14.95%
SUNS	Sunrise Realty Trust, Inc.	6.61	-1.59	-19.37%

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 intere...

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 board...

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.

Date of analysis: Sep 07, 2026

Clipper Realty AI Stock Analysis