Clipper Realty Q3 revenue slightly rises
Clipper Realty's Q3 revenue increased slightly due to higher residential rental income, despite a net loss of $4.6 million compared to $1.1 million last year. Adjusted FFO decreased to $5.6 million from $7.8 million. The termination of a NYC lease reduced commercial revenue, while higher rental rates boosted residential revenue. The company did not provide future guidance. Analyst rating is "sell," while the residential REITs peer group consensus is "buy."
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Overview
- Clipper Realty Q3 revenue rose slightly, driven by higher residential rental income
- Company reported a Q3 net loss of $4.6 mln, compared to $1.1 mln last year
- Adjusted FFO for Q3 was $5.6 mln, down from $7.8 mln last year
Outlook
- Company did not provide specific future guidance in its press release
Result Drivers
- LEASE TERMINATION - Termination of NYC lease at 250 Livingston Street led to a decrease in commercial revenue
- HIGHER RENTAL RATES - Increased rental rates at residential properties drove revenue growth
Key Details
Metric Beat/Mis Actual Consensu
s s
Estimate
Q3 $37.7
Revenue mln
Q3 Net -$4.61
Income mln
Q3 $5.60
Adjusted mln
FFO
Q3 $0.10
Dividend
Q3 $8.9 mln
Income
From
Operatio
ns
Analyst Coverage
- The one available analyst rating on the shares is “sell”
- The average consensus recommendation for the residential reits peer group is “buy.”
Press Release: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
