Clipper Realty Inc. Announces Third Quarter 2019 Results

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Go back to Clipper Realty Inc. Announces Third Quarter 2019 Results

Clipper Realty Inc. (CLPR) Tops Q3 EPS by 1c

November 12, 2019 4:25 PM EST

Clipper Realty Inc. (NYSE: CLPR) reported Q3 EPS of $0.01, $0.01 better than the analyst estimate of $0.00. Revenue for the quarter came in at $29.4 million versus the consensus estimate of $29.3 million.

Financial Results

For the third quarter of 2019, revenues grew by $1.5 million, or 5.3%, to $29.4 million, compared to $27.9 million for the third quarter of 2018. The growth was primarily attributable to improvements in rental rates and occupancy at the Flatbush Gardens and Tribeca House properties, which had residential rental income increases of 7.0% and 3.5%, respectively, compared to the same period in 2018, and bringing the Clover House property online... More