Earnings Releases·Nov 4, 2026, 4:04 PM ET

Clipper Realty Inc. — Third Quarter 2026 Earnings Summary

Total revenues increased 7.4% year-over-year to $40.5 million, driven by a 14.1% rise in residential revenues to $34.0 million, while commercial revenues declined 17.7% to $6.5 million due to the NYC lease termination at 250 Livingston Street.
Net loss widened to $5.9 million ($0.18 per share) from $4.6 million in the prior year, and Adjusted Funds From Operations (AFFO) decreased to $4.1 million ($0.10 per share) from $5.6 million, though Net Operating Income (NOI) rose to $22.3 million from $20.8 million.
The company declared a consistent quarterly dividend of $0.095 per share, while total stockholders' equity deficit expanded to $43.7 million from $30.7 million at year-end 2025.
Management reported strong residential leasing momentum with new free market leases exceeding prior rents by 9% and renewals by over 5%, alongside progress in resolving lender issues at 250 Livingston Street where the lender has reimbursed substantially all expenses since payments ceased.