Clipper Realty Inc. (CLPR) Reports Q1 Loss of $0.03, AFFO of $0.10 on Revenues of $25.26M

Clipper Realty Inc. (NYSE: CLPR) reported Q1 EPS of ($0.03). Revenue for the quarter came in at $25.26 million, versus $0 reported last year.

Highlights - First Quarter 2017

• Revenues grew approximately 16% to $25.3 million for the first quarter 2017 as compared to the same period of 2016
• Net loss was reduced by 60% to $1.3 million or $0.03 per share as compared to the same period of 2016
• Adjusted Funds from Operations (“AFFO”) increased by 122% to $4.0 million or $0.10 per share as compared to the same period of 2016
• Completed initial public offering in February and March 2017, raising gross proceeds of $86.3 million
• New lease with City of New York at the 250 Livingston Street property took effect January 2017, increasing revenue by $2.6 million annually
• Declares dividend of $0.095 for the first quarter of 2017 representing 46% growth over same period of 2016 and 11% growth over last dividend
• Completed acquisition in May 2017 of 107 Columbia Heights in Brooklyn Heights for $87.5 million

For earnings history and earnings-related data on Clipper Realty Inc. (CLPR) click here.

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