Clipper Realty Inc. ( (CLPR) ) has released its Q2 earnings. Here is a breakdown of the information Clipper Realty Inc. presented to its investors.
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Clipper Realty Inc. is a self-managed real estate company that focuses on acquiring, owning, and managing multifamily residential and commercial properties in the New York metropolitan area, with a significant presence in Manhattan and Brooklyn.
In its second quarter of 2025 earnings report, Clipper Realty Inc. reported a 5% increase in quarterly revenues, reaching $39 million, and a record net operating income of $22.1 million. Despite these gains, the company faced a net loss of $1.4 million, largely due to an impairment charge related to a property sale.
Key financial highlights include a substantial 18% increase in adjusted funds from operations to $8.3 million, driven by strong residential leasing and high occupancy rates. The company also completed construction on its Dean Street development and secured bridge financing to reduce interest costs. Additionally, Clipper Realty sold its 10 West 65th Street property, generating nearly $13 million in cash.
Looking forward, Clipper Realty remains optimistic about maintaining high occupancy and strong renter demand. The company is actively seeking solutions for its 250 Livingston Street property and continues to focus on capital improvements and leasing efforts across its portfolio.