Clipper Realty Inc.

CORRECTING and REPLACING Clipper Realty Inc. Announces Third Quarter 2026 Results

businesswire.com•4d ago

Clipper Realty Inc. Announces Third Quarter 2026 Results

Clipper Realty posted record Q3 2026 revenue of $40.5 million, up from $37.7 million a year earlier, driven by 14.1% residential revenue growth and strong occupancy; new free-market leases exceeded prior rents by 9%. Underneath the top line, AFFO fell to $4.1 million ($0.10/share) from $5.6 million ($0.13/share) and the net loss widened to $5.9 million from $4.6 million, largely tied to the NYC lease termination at 250 Livingston Street, where a receiver was appointed in April 2026 and the lender holds foreclosure rights under a June 2026 Consent and Cooperation Agreement. The company declared a flat $0.095/share dividend and carries $1,286.9 million of notes payable against a total equity deficit of $114.9 million at quarter end.

•4d ago

Clipper Realty Inc. Announces Second Quarter 2026 Results

Clipper Realty reported Q2 2026 revenue of $38.6 million, down slightly from $39.0 million in the prior year, while net loss widened to $6.3 million driven by the termination of the NYC lease at 250 Livingston Street. Residential operations remained strong with revenue increasing to $32.2 million, supported by record leasing rates and full occupancy at the new Prospect House property. AFFO fell 54% year-over-year to $3.8 million due to the office lease termination, though the company maintained its quarterly dividend of $0.095 per share.

•3mo ago

Clipper Realty Inc. Announces First Quarter 2026 Results

Clipper Realty reported Q1 2026 revenue of $38.1 million, down 3.3% year-over-year, driven by a 39% drop in commercial revenue following the termination of the New York City lease at its 250 Livingston Street office property. While GAAP net loss improved significantly to $11.1 million from $35.1 million a year ago, this was primarily due to the absence of a $33.8 million impairment charge recorded in the prior year for the sold 10 West 65th Street property. Core operational cash flow, measured by AFFO, declined 71% to $2.3 million from $8.0 million. The company faces significant headwinds at 250 Livingston Street, where a court appointed a temporary receiver on April 29, 2026, following a lender's default complaint. Additionally, Clipper recorded a $3.6 million charge for a probable litigation settlement regarding payroll practices and maintained its quarterly dividend at $0.095 per share.

•5mo ago

Clipper Realty Inc. to Report First Quarter 2026 Financial Results

businesswire.com•6mo ago