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Clipper Realty Inc. announces first quarter 2024 results, with record revenues of $35.8 million. The company saw growth in income from operations, NOI, and AFFO, despite a quarterly net loss of $2.7 million. Residential revenue increased by 9.0%, driven by higher rental rates, while commercial income decreased by 0.9% due to lease expirations. The company declared a dividend of $0.095 per share. The balance sheet showed an increase in notes payable to $1,239.0 million. Clipper Realty Inc. will host a conference call to discuss the results on May 7, 2024.
