Sector: N/A | Industry: N/A |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 4611 12th Ave Ste 1L BROOKLYN NY 11219 |
Tel: | N/A |
Website: | https://www.clipperrealty.com |
IR: | See website |
Key People | ||
David Bistricer Co-Chairman of the Board, Chief Executive Officer | Sam Levinson Co-Chairman of the Board | Lawrence E. Kreider Chief Financial Officer, Secretary |
Jacob J. Bistricer Chief Operating Officer | Jacob Schwimmer Chief Property Management Officer |
Business Overview |
Clipper Realty Inc. is a self-administered and self-managed real estate company. The Company acquires, owns, manages, operates, and repositions multifamily residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn. The Company operates through two segments: Residential Rental Properties and Commercial Rental Properties. The Commercial Rental Properties segment includes the 141 Livingston Street property and portions of the 250 Livingston Street, Tribeca House, Dean Street and Aspen properties. The Residential Rental Properties segment includes the Flatbush Gardens property, the Clover House property, the 10 West 65th Street property, the 1010 Pacific Street property and portions of the 250 Livingston Street, Tribeca House, Dean Street and Aspen properties. The Company consists of nine properties totaling approximately 3.4 million rentable square feet. |
Financial Overview |
For the three months ended 31 March 2024, Clipper Realty Inc revenues increased 6% to $35.8M. Net loss applicable to common stockholders decreased 54% to $1.4M. Revenues reflect Residential segment increase of 9% to $26.1M. Lower net loss reflects Residential segment income increase from $2.7M to $20.8M, Commercial segment income increase of 39% to $5.9M. Dividend per share remained flat at $0.10. |
Employees: | 148 as of Dec 31, 2023 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $1,269M as of Mar 31, 2024 |
Annual revenue (TTM): | $140.30M as of Mar 31, 2024 |
EBITDA (TTM): | $36.27M as of Mar 31, 2024 |
Net annual income (TTM): | -$5.56M as of Mar 31, 2024 |
Free cash flow (TTM): | -$43.49M as of Mar 31, 2024 |
Net Debt Last Fiscal Year: | $1,205M as of Mar 31, 2024 |
Shares outstanding: | 16,077,290 as of May 7, 2024 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |