GET DAILY SIGNALSClipper Realty (CLPR) Reports Record Revenue of $40.5 Million in Q3 2026
Key Takeaways
- Clipper Realty reported record total revenue of $40.5 million for the third quarter of 2026, up 7.4% from $37.7 million a year earlier and above the roughly $39.3 million consensus estimate.
- Residential rental income climbed 14.1% to $34.0 million, while commercial rental income fell 17.7% to $6.5 million, largely reflecting the August 2025 departure of New York City from 250 Livingston Street.
- Net loss widened to $5.9 million, or $0.18 per share, from $4.6 million, or $0.14 per share, a year ago, pressured by non-cash charges tied to 250 Livingston Street.
- Adjusted funds from operations (AFFO), a key cash-flow measure for real estate companies, declined to $4.1 million, or $0.10 per share, from $5.6 million, or $0.13 per share, in the prior-year quarter.
- The company declared a quarterly dividend of $0.095 per share, payable on November 25, 2026, to shareholders of record on November 16, 2026.
Putting the Quarter in Context
Clipper Realty Inc. (CLPR), a self-managed owner and operator of multifamily residential and commercial properties across Manhattan and Brooklyn, is navigating a two-speed business. Its New York City apartment portfolio is producing record rents and near-full occupancy, while its commercial segment is still absorbing the loss of a major government tenant. This quarter matters because it shows whether residential strength can offset office-related drag and support the company's dividend. Investors are also watching how management resolves the 250 Livingston Street situation, where a lender placed the property into receivership and the company is pursuing a loan sale. The results provide a direct read on New York rental demand, interest expense trends, and the path of distributable cash flow. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
Reported Results
For the third quarter of 2026, Clipper Realty reported total revenues of $40.5 million, up $2.8 million, or 7.4%, from $37.7 million in the third quarter of 2025 and above the consensus estimate of roughly $39.3 million. Residential rental income rose 14.1% to $34.0 million, driven by record rents, high occupancy, and a full quarter of contribution from the Prospect House development at 953 Dean Street. Commercial rental income fell 17.7% to $6.5 million, primarily due to the termination of the New York City lease at 250 Livingston Street, partially offset by new commercial leases at Tribeca House and higher real estate tax reimbursement at 141 Livingston Street.
Income from operations increased to $9.9 million from $8.9 million, and net operating income (NOI), which measures property-level profitability before financing and corporate costs, rose to $22.3 million from $20.8 million. Net loss, however, widened to $5.9 million, or $0.18 per share, from $4.6 million, or $0.14 per share, a year earlier, reflecting elevated interest expense and non-cash items tied to 250 Livingston Street. AFFO came in at $4.1 million, or $0.10 per share, down from $5.6 million, or $0.13 per share, in the prior-year quarter. From what I see, the residential gains are clear, but the commercial drag and non-cash items are weighing on the bottom line.
Market Reaction and Investor Sentiment
Investor sentiment around Clipper Realty remains mixed, reflecting the gap between its record-setting residential operations and its lingering office-related headwinds. The revenue beat and double-digit growth in residential rents underscore strong underlying demand, but the decline in AFFO and the widening net loss highlight that distributable cash flow is still being weighed down by higher interest costs and the 250 Livingston Street fallout. The appointment of a temporary receiver at that property and the ongoing loan-sale process add an element of uncertainty. The consistent quarterly dividend of $0.095 per share signals management's confidence in its residential cash flows, yet the office overhang and elevated leverage keep sentiment cautious as investors assess how quickly the company can stabilize its capital structure. I’m watching this closely as the residential momentum continues to build.
Forward Outlook and Key Factors to Monitor
Looking ahead, the most important item to watch is the resolution of the 250 Livingston Street property. The company and its lender entered a consent and cooperation agreement to market and sell the loan, a process that could allow Clipper Realty to bid or result in the lender taking the deed in lieu of foreclosure. The outcome will determine how much of the recorded non-cash expense burden eventually becomes a realized cash impact.
On the residential side, investors should monitor whether rent growth and near-record occupancy persist. New free market leases in the quarter exceeded prior rents by 9%, with renewals up over 5%, and management has signaled it expects demand to remain strong given constrained New York housing supply. The full-quarter contribution from Prospect House and the stabilization of Pacific House are additional revenue catalysts.
Commercial performance also deserves attention. At 141 Livingston Street, the New York City Brooklyn Courthouse is operating under a lease pending finalization of a previously agreed five-year term expected to take effect in 2027. Interest expense remains a key swing factor given the company's sizable notes payable, so changes in borrowing costs and refinancing activity could meaningfully affect AFFO. Balancing these tailwinds and headwinds will likely shape Clipper Realty's earnings trajectory and dividend sustainability in the quarters ahead.
Exploring AI Tools for Real Estate Analysis
In my view, tools like Tickeron’s AI Screener help cut through the noise when comparing names like CLPR to peers. I often run quick scans on fundamentals and technical signals to spot patterns across the sector before diving deeper into filings. It’s a practical step that complements traditional research without replacing it.
Disclaimer
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Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
CLPR's MACD Histogram crosses above signal line
The Moving Average Convergence Divergence (MACD) for CLPR turned positive on October 27, 2026. Looking at past instances where CLPR's MACD turned positive, the stock continued to rise in 35 of 49 cases over the following month. The odds of a continued upward trend are 71%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 30, 2026. You may want to consider a long position or call options on CLPR as a result. In 66 of 96 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 69%.
CLPR moved above its 50-day moving average on November 02, 2026 date and that indicates a change from a downward trend to an upward trend.
Following a +7.89% 3-day Advance, the price is estimated to grow further. Considering data from situations where CLPR advanced for three days, in 142 of 227 cases, the price rose further within the following month. The odds of a continued upward trend are 63%.
Bearish Trend Analysis
The 10-day RSI Indicator for CLPR moved out of overbought territory on November 03, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 28 similar instances where the indicator moved out of overbought territory. In 18 of the 28 cases, the stock moved lower in the following days. This puts the odds of a move lower at 64%.
The Stochastic Oscillator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.
The 10-day moving average for CLPR crossed bearishly below the 50-day moving average on October 09, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 15 of 17 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 88%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where CLPR declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 78%.
CLPR broke above its upper Bollinger Band on October 30, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for CLPR entered a downward trend on October 30, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron Valuation Rating of 9 (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: CLPR's P/B Ratio (-1.354) is very low in comparison to the industry average of (2.223). P/E Ratio (-3.574) is within average values for comparable stocks, (18.671). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (6.621). Dividend Yield (0.113) settles around the average of (0.229) among similar stocks. CLPR's P/S Ratio (0.365) is very low in comparison to the industry average of (5.580).
The Tickeron Price Growth Rating for this company is 40 (best 1 - 100 worst), indicating steady price growth. CLPR’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 72 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is 100 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. CLPR’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 96, placing this stock worse than average.
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Fundamental Analysis Ratings
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a real estate investment trust
Industry MediaConglomerates
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