CLPR
Clipper Realty Inc.3.4500
+0.0500+1.47%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
No Q&A; remarks unprobed
No Q&A left management's prepared remarks on strong residential leasing unchallenged. New leases beat priors by 13% across properties, with Prospect House at 78% leased on $85/ft free market rents, offsetting 250 Livingston's NYC lease loss that tanked NOI to $20.7M and AFFO to $1.7M YoY. There were no questions from analysts. The steady $0.095/share dividend underscores balance sheet stability at 89% fixed-rate debt. Investors will watch Prospect House full lease-up and 250 Livingston debt restructuring next.
Key Stats
Market Cap
146.50MP/E (TTM)
-Basic EPS (TTM)
-1.12Dividend Yield
0.11%Recent Filings
10-K
FY2025 results
Clipper Realty's FY2025 delivered $153.2M total revenues, with residential rents climbing 8.8% y/y to $118.9M on stronger rates at Tribeca House ($88.74/sq ft, up from $82.52) and Flatbush Gardens ($32.20/sq ft, up from $30.04), yet commercial plunged 11.7% y/y after NYC vacated 250 Livingston in August, slashing $15.4M annual rent. Q4 momentum faltered with 250 Livingston in default (owed ~$3.6M interest) and 141 Livingston holdover rent at risk post-December expiry, despite a late loan mod and $10M LC. NOI held ~$85M; $1.3B property debt weighs at 3.9% avg rate. Cash ops fell to $22.6M. NYC tenant uncertainty looms large.
8-K
Q4 residential strong, offices weak
Clipper Realty posted Q4 revenues of $37.1M, down from $38.0M, with residential up 9.5% to $30.9M on strong leasing yet commercial plunging 37% to $6.2M after NYC lease termination at 250 Livingston. Net loss widened to $11.3M from office settlements costing $2.6M and Prospect House lease-up drags. Residential rents hit records. Declared $0.095/share dividend.
8-K
Settles $100M loan foreclosure
Clipper Realty settled foreclosure litigation on its $100M loan secured by 141 Livingston Street, effective December 30, 2025. Borrower posted a $10M letter of credit for tenant reserves, paid ~$2.2M in fees, while lender waived default interest and late charges, dismissed actions with prejudice, and approved a five-year NYC tenant lease extension from December 28. Litigation ends. Loan matures 2031 at 3.21%.
8-K
Loan default at 250 Livingston
Clipper Realty's subsidiary defaulted on its $125M loan for 250 Livingston Street on December 18, 2025, after missing payments tied to a key NYC tenant's exit, with $3.4M in owed interest as of December 22. Lender eyes foreclosure. Meanwhile, Clipper eyes settling 141 Livingston litigation via $10M letter of credit and up to $3M fees for lease extension and waived penalties. No deal assured.
10-Q
Q3 FY2025 results
Clipper Realty posted steady Q3 revenue of $37.7M, flat y/y while residential rental income climbed 7.0% y/y to $29.8M on higher rates at Tribeca House and Flatbush Gardens, offsetting an 18.9% drop in commercial to $7.9M after NYC vacated 250 Livingston in August. Operating income slipped 17.3% y/y to $8.9M on higher expenses, but net loss narrowed to $4.6M from $1.1M y/y. Cash from operations fell to $16.5M YTD from $21.3M, with $26.1M cash and $1.3B debt at quarter-end. Sold 10 West 65th in May for $45.5M net proceeds, recognizing $33.8M impairment and $0.9M disposal loss YTD. NYC leases at 141/250 Livingston pose covenant risks.
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