Did Clipper Realty beat or miss consensus estimates last quarter?

What is Clipper Realty's latest dividend and current dividend yield?

What is the market's earnings forecast for Clipper Realty next quarter?

What factors drove the changes in Clipper Realty's revenue and profit?

What were the key takeaways from Clipper Realty’s earnings call?

What is the revenue and EPS growth rate for Clipper Realty year over year?

What guidance did Clipper Realty's management provide for the next earnings period?

What were the key takeaways from Clipper Realty's earnings call?

- **Residential Strength**: 99% occupancy, 14% rent increase in new leases, and $31.67/sq ft record rents at Clover Gardens.
- **Development Momentum**: 60% leased at Prospect House (pre-market $88/sq ft) and stabilized Pacific House.
- **Financial Performance**: Flat revenue ($37.7M), 5% NOI decline, 29% AFFO decline due to lease termination and development costs.
- **Dividend Stability**: $0.095/share dividend maintained, supported by strong cash flow from stabilized assets.

**【CEO Remarks】**
- Residential properties performing strongly with high rental demand, all-time high rents, and near-full occupancy. New leases in Q3 exceeded prior rents by 14%.
- Ground-up development at Prospect House (953 Dean Street) is 60% leased with pre-market rents of $88/sq ft. Pacific House (1010 Pacific Street) is stabilized and contributing to cash flow.
- Office properties at 250 and 141 Livingston Street are in negotiations to return to cash flow-positive status.

**【COO Remarks】**
- Overall residential portfolio at 99% occupancy with record rents. Tribeca House and Clover House achieving $105/sq ft and $95/sq ft new leases, respectively.
- Pacific House (mixed-use) at 97% occupancy with pre-market rents of $82/sq ft. Aspen and 250 Livingston properties showing 12% rent increases.
- Clover Gardens (rent-stabilized) saw 9% YoY rent increase to $31.67/sq ft. Collection rates remain strong at 95% overall, 92% for Clover Gardens.

**【CFO Financial Commentary】**
- Q3 2025 Results:
  - Revenue: $37.7M (flat vs. Q3 2024)
  - NOI: $20.8M (-$1M YoY)
  - AFFO: $5.6M (-$2.2M YoY)
- Key Drivers:
  - +$2.4M from residential portfolio growth
  - -$1.9M from termination of 250 Livingston lease
  - -$1M from sale of 10 West 65th Street
  - +$0.5M from Prospect House lease-up
- Balance Sheet: $26.1M unrestricted cash, 88% fixed-rate debt at 3.87% average rate.
- Dividend: $0.095/share, same as prior quarter.

**【Concluding Remarks】**
- Focus on full lease-up of Prospect House and finalizing office property negotiations.
- Maintaining disciplined capital allocation and operational efficiency.

Clipper Realty Inc.(CLPR)-20251114-2025 Q3 Earnings call transcript

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