Clipper Realty, Inc. (CLPR)
NYSEReal EstateReit - ResidentialSnapshot 2026-09-09
$3.38+3.68%
Close 2026-09-09 · 1-day change
NYSEReal EstateReit - ResidentialSnapshot 2026-09-09
Broken: Primary pillar broken — Revenue near $156 million in FY26: Q2 rev $38.6M vs $156M target.
Clipper Realty aims to stabilize leasing in 2026. Revenue is expected near $156 million this year. The company plans to improve operating income from $4.4 million in Q1. Leasing gains at Prospect House support recovery.
Revenue growth is weak and misses forecasts. Operating income fell from $8.1 million to $4.4 million. Legal and loan issues add risks. The company is still loss-making and volatile.
The price is about 18% below our fair value near $3.4. Analysts expect 4% revenue growth. Our model sees modest growth but risks remain.
Breaks if: Operating income falls below $4 million next year
Breaks if: New major legal or loan defaults occur
Breaks if: Revenue falls below $150 million in FY26
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a turnaround story in the real estate sector. The company is currently loss-making but is focusing on stabilizing property leasing and improving financial results over the next few years.
The market appears to have priced in a low level of fragility, with expectations that are somewhat justified given the company's recent performance. CLPR is seen as cheap compared to its peers, with a notable expectations gap.
Management is working on increasing residential revenue and stabilizing operations, showing some progress in residential leasing. However, commercial revenue is declining, and operating income has shown mixed results, indicating that challenges remain.
The long-term thesis hinges on management's ability to stabilize leasing and improve operating income. Additionally, external factors like potential Federal Reserve rate cuts and performance from sector leaders could significantly impact CLPR's trajectory.
The most important moves since the prior daily snapshot.
Yes, our read has strengthened. The director's purchase of shares signals confidence in maintaining the dividend at $0.095 per share. There are no new threats impacting the thesis.
as of 2026-09-09
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
The next few years will be crucial for CLPR as it seeks to navigate a challenging environment while focusing on improving its fundamentals. Not investment advice.