Clipper Realty

Q2 FY2026 EarningsQ2 FY26 results slightly missed consensus on the top-line and operating profit: revenue of $38.58M vs. $39.00M expected, and EBIT of $9.39M vs. $9.60M expected. Commercial rental income plummeted 36.4% YoY following the vacancy at the 250 Livingston Street property, which is now under temporary receivership due to mortgage defaults. Residential rental income provided a partial offset, growing 10.9% YoY driven by higher rental rates in the Tribeca and Brooklyn portfolios. While the GAAP net loss of $6.27M was largely in-line with the -$6.30M consensus, the surge in interest expense to $15.65M (up 36.4% YoY) due to default interest penalties remains a significant drag on liquidity.