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Clipper Realty Inc (CLPR)
NYSE:CLPR
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Earnings Data
Report Date
Mar 13, 2025TBA Not Confirmed
Period Ending
2024 (Q4)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:Oct 31, 2024
|% Change Since: -10.42%
|Next Earnings Date:Mar 13, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong financial performance and leasing success, with record revenue and high occupancy rates. However, challenges such as bad debt issues at Flatbush Gardens and uncertainties surrounding Livingston Street properties were noted.Company Guidance
During the Clipper Realty Q3 2024 earnings call, the management provided optimistic guidance by highlighting record operating results, including record revenue, net operating income (NOI), and adjusted funds from operations (AFFO). The company reported a significant 7.1% increase in revenue to $37.6 million, a 9% rise in NOI to $21.8 million, and a notable 24% growth in AFFO to $7.8 million compared to the previous year. Residential properties were 99% leased, with rents exceeding prior rates by over 9.5%. Key developments include the stabilization of the Pacific House property with a 7% cap rate and progress on the Dean Street development. The company's debt remains largely fixed at 91% with an average rate of 3.87% over 4.9 years. Despite challenges such as the high-interest environment and collection issues at Flatbush Gardens, Clipper Realty remains committed to optimizing occupancy and financial performance, supported by strategic property recycling initiatives.Record Operating Results
Reported record revenue of $37.6 million, net operating income of $21.8 million, and AFFO of $7.8 million. Residential properties nearly fully leased with new leases exceeding prior rents by over 9.5%.
Successful Leasing and Property Developments
Pacific House at 1010 Pacific Street in Brooklyn is fully stabilized and contributing to cash flow with a 100% leasing rate and a projected 7% cap rate. Dean Street development is ahead of schedule.
Strong Rental Demand and High Occupancy
Overall rents at all-time highs with residential properties 99% leased. Tribeca House and Clover House properties have high lease occupancy and increasing rent per square foot.
Positive Financial Performance
Revenue increased by 7.1%, NOI by 9%, and AFFO by 24% compared to last year. Residential revenue increased by $2.3 million due to strong leasing.
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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 |
|---|---|---|---|
| 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% |
| Mar 14, 2024 | $4.35 | $4.52 | +3.91% |
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 Mar 13, 2025, TBA Not Confirmed.
What is Clipper Realty Inc (CLPR) earnings time?
Clipper Realty Inc (CLPR) earnings time is at Mar 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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