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Clipper Realty Q3 loss widens on NYC lease termination

By Reuters News


Overview

  • US multifamily and commercial property owner's Q3 revenue rose on strong residential leasing and occupancy

  • Net loss widened, mainly due to NYC lease termination at 250 Livingston Street

  • Adjusted FFO fell from a year earlier, reflecting impact of NYC lease termination


Outlook

  • Clipper Realty did not provide specific financial guidance in its press release


Result Drivers

  • RESIDENTIAL LEASING - Co said higher residential rental rates and occupancy drove revenue growth

  • COMMERCIAL REVENUE DECLINE - Co said commercial revenue fell due to NYC lease termination at 250 Livingston Street, partly offset by new leases at Tribeca House and higher tax reimbursement at 141 Livingston

  • NEW PROPERTY CONTRIBUTION - A full quarter of operations at Prospect House supported residential revenue growth after the property entered service in August 2025


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$40.50 mln

$38.70 mln (1 Analyst)

Q3 Net Loss

$5.90 mln

Q3 AFFO

$4.10 mln

Q3 Dividend

$0.095

Q3 Income From Operations

$9.90 mln


Analyst Coverage

  • The one available analyst rating on the shares is "sell"

  • The average consensus recommendation for the residential reits peer group is "buy."


Reuters Recommended Reads

  • Nov 2 - Independence Realty Trust Q3 adjusted EBITDA beats estimates; reaffirms FY guidance

  • Nov 2 - Realty Income's Q3 revenue beats; raises 2026 AFFO per share outlook

  • Nov 2 - Centerspace Q3 revenue falls 16.6%, misses estimates; halts guidance due to pending merger


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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