Welcome to our dedicated page for Clipper Realty news (Ticker: CLPR), a resource for investors and traders seeking the latest updates and insights on Clipper Realty stock.
Clipper Realty Inc. (CLPR) reports developments tied to its ownership, management and operation of multifamily residential and commercial real estate in the New York metropolitan area. Its updates typically cover quarterly financial results, AFFO and NOI trends, residential rental rates, occupancy, and leasing activity across properties in Brooklyn and Manhattan.
Company news also reflects property-level events such as the Prospect House lease-up, Flatbush Gardens rental recoveries and capital improvements, completed property sales, commercial lease changes, and mortgage financing or refinancing activity involving subsidiaries and individual assets.
Clipper Realty Inc. (NYSE: CLPR) reported Q4 2020 revenues of $30.3 million and a record annual revenue of $122.9 million. The net loss for Q4 was $3.8 million and for the year, it was $12.2 million. Despite challenges, the company announced a quarterly dividend of $0.095 per share. The portfolio occupancy stands at 95%, and a refinancing of 141 Livingston Street is expected to reduce annual debt service costs by $1.3 million. The company also noted higher property expenses affecting profitability.
Clipper Realty Inc. (NYSE: CLPR) announced it will release its financial results for Q4 and the year ending December 31, 2020, on March 16, 2021, after market close. A conference call will follow on March 17, 2021, at 11:00 AM (ET) to discuss the results and provide updates related to the COVID-19 pandemic. Investors can access the call via two phone numbers and a replay will be available until March 31, 2021. Clipper Realty focuses on acquiring, managing, and repositioning multifamily residential and commercial properties in New York.
Clipper Realty Inc. (NYSE: CLPR) announced the Federal income tax treatment of its 2020 distributions to common stock holders. Key dates include a record date of March 24, 2020, and a payment date of March 31, 2020, with a total distribution of $0.0950 per share for each of four distributions throughout 2020. The total distributions amounted to $0.3800 per share for the year. Shareholders are encouraged to consult tax advisors regarding the specific tax treatment of these distributions.
Clipper Realty Inc. (NYSE: CLPR) reported third-quarter 2020 results with revenues of $29.6 million, a 0.6% increase year-over-year. Income from operations was $6.8 million but reflected a net loss of $3.4 million for the quarter, primarily due to higher property expenses. Despite challenges from the COVID-19 pandemic resulting in lower occupancy and rental rates, the company achieved a 97% rent collection rate and maintains a liquidity position of $105 million. A dividend of $0.095 per share was declared, consistent with the previous quarter.
Clipper Realty Inc. (NYSE: CLPR) is set to release its financial results for the quarter ending September 30, 2020, on November 9, 2020, post-market close. A conference call will follow at 5:00 PM ET to discuss these results and provide updates regarding the impacts of the COVID-19 pandemic on the business. Investors can access the call by dialing (800) 346-7359, with a replay available until November 23, 2020. Clipper Realty focuses on multifamily residential and commercial properties in the New York metropolitan area, managing a diverse portfolio in Manhattan and Brooklyn.