earnings
confidence high
sentiment neutral
materiality 0.55
Clipper Realty Q2 2021 revenue $30.7M, net loss $3.2M, AFFO $4.1M
Clipper Realty Inc.
- Revenue of $30.7M down 1.6% YoY; net loss improved to $3.2M ($0.09 per share) from $5.2M loss in Q2 2020.
- AFFO of $4.1M ($0.10 per share) vs $5.5M in Q2 2020 and $3.1M in Q1 2021.
- Declared quarterly dividend of $0.095 per share; properties 94% leased with 96% rent collection in Q2.
- Cash and restricted cash totaled $98.3M; no operating property debt maturities until 2027.
- Company sees improving NYC rental demand as pandemic recedes; new office lease at 250 Livingston commenced in Q3 2020.