Clipper Realty Q1 Revenue $38.1M; Net Loss $11.1M; AFFO $2.3M
Clipper Realty Inc. announced its first quarter 2026 financial results, reporting a decrease in total revenues to $38.1 million from $39.4 million year-over-year. The company saw strong residential leasing, with residential revenues increasing by 9.3%, and its new Prospect House property becoming fully leased. However, commercial revenues declined significantly due to the New York City lease termination at the 250 Livingston Street property, which is now under temporary receivership. The net loss improved to $11.1 million from $35.1 million, but Adjusted Funds From Operations (AFFO) decreased to $2.3 million. The company also incurred a $3.6 million charge for a litigation settlement and declared a dividend of $0.095 per share.
Key Highlights
- Clipper Realty Q1 2026 revenues decreased to $38.1 million from $39.4 million YoY.
- Residential revenues increased 9.3% to $31.9 million in Q1 2026.
- Commercial revenues decreased by $4.0 million to $6.2 million in Q1 2026.
- Net loss improved to $11.1 million in Q1 2026 from $35.1 million in Q1 2025.
- Adjusted Funds From Operations (AFFO) decreased to $2.3 million ($0.05 per share) from $8.0 million ($0.19 per share) YoY.
- Declared a quarterly dividend of $0.095 per share.
- Incurred a $3.6 million charge for a litigation settlement regarding payroll practices.
- A temporary receiver was appointed for the 250 Livingston Street office property on April 29, 2026.