CPTP
Capital Properties, Inc.12.10
+0.10+0.83%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
79.86MP/E (TTM)
31.03Basic EPS (TTM)
0.39Dividend Yield
0.02%Recent Filings
10-K
FY2024 results
Capital Properties posted steady FY2024 leasing revenue of $5.6M, edging up 2% y/y from $5.5M, driven by contractual hikes across long-term land and billboard deals while contingent billboard income dipped to $147K from $188K. Q4 momentum built on annual stability, with Metropark's fixed $57K monthly rent—restored in January—bolstering parking revenue after a $150K deferred rent settlement, though hybrid work lingers as a drag. Expenses climbed modestly to $2.4M, yielding $2.3M in continuing operations income before a $336K discontinued loss hit net to $2.0M. Cash swelled to $850K, backed by a $2M unused line; the board held dividends at $0.28/share. Yet lingering environmental remediation costs at $343K could crimp quarterly cash flows.
10-Q
Q3 FY2024 results
Capital Properties posted steady revenue growth in Q3 2024 ended September 30, up 4.5% y/y to $1.4M from $1.3M, driven by higher Metropark parking rents and scheduled increases, while YTD revenue climbed 3.7% y/y to $4.2M. Operating expenses ticked up modestly, yielding income from continuing operations of $547K, flat y/y, with gross margins holding firm around 81% (derived). Net income dipped to $522K from $534K due to a larger $25K loss on discontinued operations tied to Sprague litigation fees and interest, yet YTD net rose to $1.4M despite a $314K hit from that case. Cash swelled to $973K, bolstered by $2.1M operating cash flow, with no debt drawn on its $2M revolver and a $365K environmental accrual. On January 25, 2024, the company inked a long-term ground lease for Parcel 20, pending approvals for 100,000+ sq ft mixed-use buildout. Tenant defaults pose a key risk amid economic shifts.
10-Q
Q2 FY2024 results
Capital Properties posted steady revenue of $1.5M for Q2 ended June 30, 2024, up $2K y/y, while six-month totals climbed 3.4% to $2.8M on stronger parking income from Metropark and scheduled land lease hikes, despite softer billboard contingent rents. Expenses edged up to $552K, trimming pre-tax income to $942K from $962K y/y, yet margins held firm around 63%. Net income dipped to $428K or $0.07 per share, pressured by a $235K discontinued operations loss from ongoing Sprague litigation fees. Cash swelled to $847K, bolstered by $1.4M operating cash flow, with no debt drawn on its $2M revolver and covenants intact. Signed a new ground lease for Parcel 20 in January 2024, pending approvals for mixed-use buildout. Tenant defaults remain a key watch item.
10-Q
Q1 FY2024 results
Capital Properties kicked off 2024 with revenue climbing 7% year-over-year to $1.3M for Q1 ended March 31, driven by higher parking income from Metropark and scheduled rent hikes, while expenses rose modestly on professional fees and payroll. Income from continuing operations hit $543K, up from $485K last year, yielding $0.08 basic EPS—steady at $0.07 total after a $55K discontinued operations loss tied to old environmental remediation. Cash swelled to $893K on $768K operating inflows, offset by dividends; no debt drawn on the $2M revolver secured by property, with covenants intact. A new ground lease on Parcel 20 awaits approvals for mixed-use buildout. Solid liquidity buffers the ongoing Sprague dispute over construction costs, set for trial in May.
8-K
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