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Clipper Realty Inc (CLPR)
NYSE:CLPR
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Clipper Realty
(NYSE:CLPR)
58Neutral
Clipper Realty (CLPR) vs. S&P 500 (SPY)
Market Cap
$58.93M
Dividend Yield10.47%
Average Volume (3M)202.84K
Price to Earnings (P/E)―
Beta (1Y)0.29
Revenue Growth7.65%
EPS Growth42.14%
CountryUS
Employees171
SectorReal Estate
Sector Strength77
IndustryREIT - Residential
Share Statistics
EPS (TTM)-0.25
Shares Outstanding16,146,545
10 Day Avg. Volume110,044
30 Day Avg. Volume202,840
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.40
Price to Cash Flow (P/CF)1.40
P/FCF Ratio0.30
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Clipper Realty Business Overview & Revenue Model
Company DescriptionClipper Realty Inc. (CLPR) is a real estate investment trust (REIT) based in New York City, primarily focused on owning, managing, and operating multifamily residential and commercial properties in the New York metropolitan area. The company is dedicated to acquiring properties with significant potential for capital appreciation and income growth, leveraging its expertise in property management and leasing to enhance value for its shareholders.
How the Company Makes MoneyClipper Realty makes money primarily through the ownership and management of its real estate portfolio, generating revenue from rental income derived from both residential and commercial tenants. The company focuses on properties in high-demand urban markets, which allows it to maintain high occupancy rates and command premium rental prices. Clipper Realty's revenue model is largely driven by its ability to effectively manage its properties and optimize occupancy levels, while also benefiting from property appreciation in the competitive New York real estate market. Additionally, the company may engage in strategic property acquisitions and sales to further enhance its financial performance and deliver returns to its investors.
Clipper Realty Financial Statement Overview
Summary
Clipper Realty shows strengths in revenue growth and cash flow improvements, with significant debt reduction. However, the negative stockholders' equity and persistent net losses highlight ongoing profitability and solvency challenges.Income Statement
Clipper Realty has demonstrated consistent revenue growth over the years, with a notable increase from $122.85M in 2020 to $148.78M in 2024. Gross profit margins have remained strong, averaging around 80% in recent years. However, the company continues to report net losses, although the net loss has decreased from -$5.9M in 2023 to -$2.5M in 2024, indicating a potential path to profitability. Despite improvements, the negative net profit margin remains a concern.65
Positive
Balance Sheet
The balance sheet shows a concerning negative stockholders' equity of -$5.4M as of 2024, a decline from positive equity in previous years, highlighting potential solvency issues. The company has successfully reduced its total debt significantly from $1.2B in 2023 to zero in 2024, which is a positive sign for financial health. However, the persistent negative equity ratio and low return on equity due to net losses are significant weaknesses.45
Neutral
Cash Flow
Clipper Realty's cash flow has shown improvement, with operating cash flow increasing steadily from $15.99M in 2020 to $31.86M in 2024. The free cash flow has turned positive, reaching $31.86M in 2024 from negative figures in prior years, indicating better cash management. The operating cash flow to net income ratio is favorable, suggesting strong cash-generating ability relative to net income. However, potential risks include the volatility in investing cash flows and reliance on financing cash flows.70
Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 148.78M | 138.21M | 129.75M | 122.73M | 122.85M | Gross Profit |
| 84.84M | 75.64M | 67.88M | 63.28M | 64.66M | EBIT |
| 40.53M | 33.17M | 27.64M | 24.16M | 32.14M | EBITDA |
| 70.42M | 58.24M | 54.62M | 52.71M | 54.93M | Net Income Common Stockholders |
| -2.50M | -5.90M | -5.51M | -49.20M | -46.01M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 19.90M | 22.16M | 18.15M | 34.52M | 72.06M | Total Assets |
| 1.29B | 1.25B | 1.23B | 1.23B | 1.21B | Total Debt |
| 1.27B | 1.21B | 1.16B | 1.13B | 1.08B | Net Debt |
| 1.25B | 1.18B | 1.14B | 1.10B | 1.01B | Total Liabilities |
| 1.30B | 1.24B | 1.19B | 1.16B | 1.10B | Stockholders Equity |
| -5.41M | 2.74M | 14.09M | 26.51M | 39.46M |
| Cash Flow | Free Cash Flow | |||
| 31.86M | 26.18M | -25.31M | -24.71M | -15.82M | Operating Cash Flow |
| 31.86M | 26.18M | 20.14M | 10.82M | 15.99M | Investing Cash Flow |
| -68.78M | -41.36M | -51.48M | -77.94M | -31.71M | Financing Cash Flow |
| 38.75M | 20.73M | 9.78M | 30.31M | 47.82M |
Clipper Realty Technical Analysis
Negative
3.65
Price Trends
4.03
Negative
4.25
Negative
4.56
Negative
Market Momentum
-0.11
Negative
44.30
Neutral
47.25
Neutral
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 3.65 is below the 20-day moving average (MA) of 3.73, below the 50-day MA of 4.03, and below the 200-day MA of 4.56, indicating a bearish trend. The MACD of -0.11 indicates Negative momentum. The RSI at 44.30 is Neutral, neither overbought nor oversold. The STOCH value of 47.25 is Neutral, 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
Overall Rating
UnderperformOutperform
Sector (59)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $298.90M | ― | -4.52% | 6.33% | 2.15% | -556.06% | |
59 Neutral | $2.72B | 11.53 | 0.09% | 8679.99% | 5.56% | -16.50% | |
58 Neutral | $58.93M | ― | 46.22% | 10.47% | 7.65% | 42.14% | |
57 Neutral | $1.04B | ― | -1.53% | 5.15% | -21.69% | -154.55% | |
52 Neutral | $110.19M | 8.17 | 6.44% | ― | ― | ||
50 Neutral | $944.48M | 870.92 | 0.25% | 5.28% | -6.42% | -98.33% |
* Real Estate Sector Average
Performance Comparison
CLPR
Clipper Realty
3.65
-0.14
-3.69%
CSR
Centerspace
59.89
-2.15
-3.47%
BRT
BRT Apartments
15.75
-0.93
-5.58%
NXRT
NexPoint Residential
36.82
5.05
15.90%
SUNS
Sunrise Realty Trust Inc
9.78
-0.75
-7.12%
Clipper Realty Earnings Call Summary
Earnings Call Date: Feb 14, 2025 | % Change Since: -8.06% | Next Earnings Date: May 13, 2025
Earnings Call Sentiment Positive
The earnings call highlighted strong financial performance and occupancy rates, with record revenues and successful new development projects. However, challenges include potential vacancy at a major property and increased operating costs. Overall, the positive aspects significantly outweigh the negatives.Highlights
Record Operating Results
Clipper Realty reported record revenue, net operating income (NOI), and adjusted funds from operations (AFFO) driven by strong residential activity. Revenue reached $38 million, NOI $22.5 million, and AFFO $8.1 million, with improvements over last year's fourth quarter.
Strong Leasing Performance
Residential leasing at Clipper Realty properties was at 99% occupancy with new leases exceeding previous rents by over 7%. Tribeca House and Clover House led with new leases at $90 and $94 per square foot, respectively.
Successful Development Projects
The Pacific House project is fully stabilized and leased, contributing to cash flow with a 7% cap rate. Construction at 953 Dean Street is nearing completion with leasing set to begin in 2025.
Positive Financial Metrics
Revenues increased by 9.1% year-over-year, NOI by 12.5%, and AFFO by 29%. These metrics reflect strong leasing and cost reductions.
Lowlights
Potential Vacancy at 250 Livingston Property
New York City has notified Clipper Realty of its intention to vacate the 250 Livingston property in August 2025, creating a potential challenge in maintaining cash flow.
Increased Operating Expenses and Bad Debt
Property operating expenses increased due to prevailing wage requirements and higher utility and legal costs. Bad debt increased due to a lower collection rate at Flatbush Gardens, affecting revenue.
Company Guidance
During the Clipper Realty fourth-quarter 2024 earnings call, the company reported record operating results, with revenues reaching $38 million, a 9.1% increase from the previous year. Net operating income (NOI) rose by 12.5% to $22.5 million, and adjusted funds from operations (AFFO) increased by 29% to $8.1 million. The strong performance was driven by high rental demand, with new leases exceeding prior rents by over 7% across the portfolio, including notable increases at Tribeca House and Clover House, where new lease rates reached $90 and $94 per foot, respectively. The Flatbush Gardens property also saw new lease rates exceed previous ones by 13%, supported by the Article 11 agreement with New York City, which began in July 2023 and provides full abatement of real estate taxes. Additionally, the Pacific House development achieved a 7% cap rate and is fully leased. Looking ahead, Clipper Realty aims to continue optimizing occupancy and pricing while advancing its development projects.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.