Clipper Realty, Inc. (CLPR)

NYSEReal EstateReit - ResidentialSnapshot 2026-10-23

$3.07-0.65%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Clipper Realty, Inc.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	39.1M
EPS	—	0.08
Annual ending 2026-12-31
Revenue	—	154.6M
EPS	—	0.29
Annual ending 2027-12-31
Revenue	—	158.3M
EPS	—	0.24

Management figures unavailable.

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Operating income improves from $4.4 million in 2026-Q1	The company plans to improve operating income from $4.4 million in Q1.	Broken	Operating income falls below $4 million next year	Operating income: $9.389M FY2026-Q2; GAAP. Published target: > $4.4 million. Target period is not explicitly aligned with this observation. Source published Aug 6, 20269,389,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 63399875-463a-4a80-8d21-1e5407770887. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 3 quarters. Operating income improved significantly from a loss of $23.6M in 2025-Q1 to a positive $4.4M in 2026-Q1, but declined slightly from $10.8M in 2025-Q2 to $9.3M in 2026-Q2. Management's focus on improving operating income shows delivering results in early 2026 but some decline in Q2, reflecting mixed progress. Delivery assessment Oct 24, 2026
Control legal and loan-related risks	A supporting condition in Clipper Realty, Inc.'s published investment case. The stated target is No new major legal or loan defaults.	Under Pressure	New major legal or loan defaults occur	2 major legal/loan events vs 0 target Two litigation filings regarding Citi loan agreements occurred in early 2026, confirming new legal/loan risks. Context reviewed through Oct 23, 2026Last status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Revenue near $156 million in FY26	Revenue is expected near $156 million this year.	Broken	Revenue falls below $150 million in FY26	Revenue: $38.575M FY2026-Q2; GAAP. Published target: >= $156 million. Target period is not explicitly aligned with this observation. Source published Aug 6, 202638,575,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 63399875-463a-4a80-8d21-1e5407770887. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 3 quarters. Residential revenues increased from $29.1M in 2025-Q2 to $32.2M in 2026-Q2, while total revenues slightly declined from $39.0M to $38.6M due to commercial lease termination. Net operating income declined modestly from $22.8M to $21.6M. Management has consistently emphasized strong residential leasing and progress on lender issues at 250 Livingston Street, with the trajectory showing mixed results but ongoing focus. Delivery assessment Oct 24, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS: comparable history unavailable.

FY2027 revenue: comparable history unavailable.

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	Unavailable	Unavailable	— / 1
2026-07-25	Unavailable	Unavailable	— / 1
2026-07-26	Unavailable	Unavailable	— / 1
2026-07-27	Unavailable	Unavailable	— / 1
2026-07-28	Unavailable	Unavailable	— / 1
2026-07-29	Unavailable	Unavailable	— / 1
2026-07-30	Unavailable	Unavailable	1 / 1
2026-07-31	Unavailable	Unavailable	— / 1
2026-08-01	Unavailable	Unavailable	1 / 1
2026-08-02	Unavailable	Unavailable	1 / 1
2026-08-03	Unavailable	Unavailable	1 / 1
2026-08-04	Unavailable	Unavailable	1 / 1
2026-08-05	Unavailable	Unavailable	— / 1
2026-08-06	Unavailable	Unavailable	1 / 1
2026-08-07	Unavailable	Unavailable	1 / 1
2026-08-08	Unavailable	Unavailable	1 / 1
2026-08-09	Unavailable	Unavailable	— / 1
2026-08-10	Unavailable	Unavailable	— / 1
2026-08-11	Unavailable	Unavailable	1 / 1
2026-08-12	Unavailable	Unavailable	1 / 1
2026-08-13	Unavailable	Unavailable	— / 1
2026-08-14	Unavailable	Unavailable	1 / 1
2026-08-15	Unavailable	Unavailable	1 / 1
2026-08-16	Unavailable	Unavailable	1 / 1
2026-08-17	Unavailable	Unavailable	1 / 1
2026-08-18	Unavailable	Unavailable	1 / 1
2026-08-19	Unavailable	Unavailable	1 / 1
2026-08-20	Unavailable	Unavailable	1 / 1
2026-08-21	Unavailable	Unavailable	1 / 1
2026-08-22	Unavailable	Unavailable	1 / 1
2026-08-23	Unavailable	Unavailable	1 / 1
2026-08-24	Unavailable	Unavailable	1 / 1
2026-08-25	Unavailable	Unavailable	1 / 1
2026-08-26	Unavailable	Unavailable	1 / 1
2026-08-27	Unavailable	Unavailable	1 / 1
2026-08-28	Unavailable	Unavailable	1 / 1
2026-08-29	Unavailable	Unavailable	1 / 1
2026-08-30	Unavailable	Unavailable	1 / 1
2026-08-31	Unavailable	Unavailable	1 / 1
2026-09-01	Unavailable	Unavailable	1 / 1
2026-09-02	Unavailable	Unavailable	1 / 1
2026-09-03	Unavailable	Unavailable	1 / 1
2026-09-04	Unavailable	Unavailable	1 / 1
2026-09-05	Unavailable	Unavailable	1 / 1
2026-09-06	Unavailable	Unavailable	1 / 1
2026-09-07	Unavailable	Unavailable	1 / 1
2026-09-08	Unavailable	Unavailable	1 / 1
2026-09-09	Unavailable	Unavailable	1 / 1
2026-09-10	Unavailable	Unavailable	1 / 1
2026-09-11	Unavailable	Unavailable	1 / 1
2026-09-12	Unavailable	Unavailable	1 / 1
2026-09-13	Unavailable	Unavailable	1 / 1
2026-09-14	Unavailable	Unavailable	1 / 1
2026-09-15	Unavailable	Unavailable	1 / 1
2026-09-16	Unavailable	Unavailable	1 / 1
2026-09-17	Unavailable	Unavailable	1 / 1
2026-09-18	Unavailable	Unavailable	1 / 1
2026-09-19	Unavailable	Unavailable	1 / 1
2026-09-20	Unavailable	Unavailable	1 / 1
2026-09-21	Unavailable	Unavailable	1 / 1
2026-09-22	Unavailable	Unavailable	1 / 1
2026-09-23	Unavailable	Unavailable	1 / 1
2026-09-24	Unavailable	Unavailable	1 / 1
2026-09-25	Unavailable	Unavailable	1 / 1
2026-09-26	Unavailable	Unavailable	1 / 1
2026-09-27	Unavailable	Unavailable	1 / 1
2026-09-28	Unavailable	Unavailable	1 / 1
2026-09-29	Unavailable	Unavailable	1 / 1
2026-09-30	Unavailable	Unavailable	1 / 1
2026-10-01	Unavailable	Unavailable	1 / 1
2026-10-02	Unavailable	Unavailable	1 / 1
2026-10-03	Unavailable	Unavailable	1 / 1
2026-10-04	Unavailable	Unavailable	1 / 1
2026-10-05	Unavailable	Unavailable	1 / 1
2026-10-06	Unavailable	Unavailable	1 / 1
2026-10-07	Unavailable	Unavailable	1 / 1
2026-10-08	Unavailable	Unavailable	1 / 1
2026-10-09	Unavailable	Unavailable	1 / 1
2026-10-10	Unavailable	Unavailable	1 / 1
2026-10-11	Unavailable	Unavailable	1 / 1
2026-10-12	Unavailable	Unavailable	1 / 1
2026-10-13	Unavailable	Unavailable	1 / 1
2026-10-14	Unavailable	Unavailable	1 / 1
2026-10-15	Unavailable	Unavailable	1 / 1
2026-10-16	Unavailable	Unavailable	1 / 1
2026-10-17	Unavailable	Unavailable	1 / 1
2026-10-18	Unavailable	Unavailable	1 / 1
2026-10-19	Unavailable	Unavailable	1 / 1
2026-10-20	Unavailable	Unavailable	1 / 1
2026-10-21	Unavailable	Unavailable	1 / 1
2026-10-22	Unavailable	Unavailable	1 / 1
2026-10-23	Unavailable	Unavailable	1 / 1
2026-10-24	Unavailable	Unavailable	1 / 1

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	0	0	1
2026-06-01	0	0	1
2026-07-01	0	0	1
2026-08-01	0	0	1
2026-09-01	0	0	1
2026-10-01	0	0	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 0 Buy / Strong Buy · 0 Hold · 1 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 25–Oct 24 · 0 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Operating income improves from $4.4 million in 2026-Q1Published status: Broken
Control legal and loan-related risksPublished status: Under Pressure
Revenue near $156 million in FY26Published status: Broken

Next proof point

Nov 4, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.3%Typical daily move · historical

Downside history

-28.5%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Clipper Realty, Inc. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a higher-risk real estate operating story, not a steady earnings compounder today. The long-term thesis is intact, and the latest signal improved to mildly favorable, but financial performance and management execution remain mixed.

What's priced into Clipper Realty, Inc.

The evidence describes CLPR as cheap versus peers, while the expectations gap is slightly negative, meaning expectations appear somewhat ahead of the model’s view. Pricing fragility is low, but valuation confidence is only medium and the business remains loss-making on the evidence provided.

What the fundamentals likely do

Near term, residential revenue growth supports results, but commercial lease termination has reduced commercial income and total revenue, while net operating income has eased. Operating income improved earlier in 2026 but slipped in the second quarter; an earnings beat in August followed a May miss, and the next report carries elevated miss risk.

What Clipper Realty, Inc. hinges on

Over the next few quarters, the thesis depends on residential leasing gains continuing while commercial weakness is contained and operating income stabilizes. Fed rate cuts and stronger results from real estate peers could help the sector backdrop, while a guidance cut would weaken the case; litigation and progress on lender issues at 250 Livingston Street also bear watching.