Clipper Realty Inc. (CLPR) Misses Q1 EPS by 2c

Clipper Realty Inc. (NYSE: CLPR) reported Q1 EPS of ($0.02), $0.02 worse than the analyst estimate of $0.00. Revenue for the quarter came in at $30.9 million versus the consensus estimate of $31.03 million.

• Achieved record quarterly revenues of $30.9 million for the first quarter of 2020, representing an increase of 11.7% compared to the same period in 2019. Residential rental income increased 3.2% and 4.5% at the Flatbush Gardens and Tribeca House properties, respectively, for the first quarter of 2020
• Achieved quarterly income from operations of $9.0 million for the first quarter of 2020, representing an increase of 10.3% compared to the same period in 2019
• Achieved record quarterly net operating income (“NOI”)1 of $17.1 million for the first quarter of 2020, representing an increase of 16.3% compared to the same period in 2019
• Recorded quarterly net loss of $0.8 million for the first quarter of 2020
• Achieved quarterly adjusted funds from operations (“AFFO”)1 of $5.6 million for the first quarter of 2020, representing an increase of 5.8% compared to the same period in 2019
• Declared a dividend of $0.095 per share for the first quarter of 2020

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

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