Clipper Realty Inc. (CLPR) Reports Q3 Loss of $0.04 on Revenues of $26M

Clipper Realty Inc. (NYSE: CLPR) reported Q3 EPS of ($0.04), versus $0.00 reported last year. Revenue for the quarter came in at $26 million.

Highlights for the Three and Nine Months Ended September 30, 2017

• Grew revenues by approximately 5% to $26.0 million in the third quarter 2017, and by 11% to $76.6 million in the nine months ended September 30, 2017, compared to the same periods in 2016.
• Achieved record quarterly Income from Operations of $7.4 million, and Net Operating Income (“NOI”) of $14.0 million in the third quarter 2017 consistent with the second quarter 2017 record.
• Reduced net loss by 38% to $1.6 million, or $0.04 per share, for the third quarter 2017, and by 52% to $4.5 million, or $0.11 per share, for the nine months ended September 30, 2017, compared to the same periods in 2016.
• Increased Adjusted Funds from Operations (“AFFO”) by 21% to $4.0 million, or $0.09 per share, in the third quarter 2017, and by 69% to $12.1 million, or $0.28 per share, in the nine months ended September 30, 2017, compared to the same periods in 2016.
• Declares dividend of $0.095 for the third quarter 2017, representing a 46% increase over the same period in 2016.
• In the process of closing the acquisition of 10 West 65th Street, a residential property in Manhattan, for $79.0 million.

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

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