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Clipper Realty Inc (CLPR)
NYSE:CLPR
Earnings Data
Report Date
May 13, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
―Last Year’s EPS
-0.09Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 14, 2025
|% Change Since: 20.39%
|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.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.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.
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CLPR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CLPR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 14, 2025 | $4.07 | $4.58 | +12.53% |
| Oct 31, 2024 | $6.48 | $5.81 | -10.34% |
| Aug 01, 2024 | $3.64 | $4.19 | +15.11% |
| May 07, 2024 | $3.71 | $3.82 | +2.96% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Clipper Realty Inc (CLPR) report earnings?
Clipper Realty Inc (CLPR) is schdueled to report earning on May 13, 2025, TBA Not Confirmed.
What is Clipper Realty Inc (CLPR) earnings time?
Clipper Realty Inc (CLPR) earnings time is at May 13, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CLPR EPS forecast?
Currently, no data Available
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