Clipper Realty Q2 revenue $37.3M (+8.3% YoY); net loss narrows to $1.7M

Clipper Realty Inc.

Record quarterly revenue of $37.3M, up 8.3% YoY; net loss of $1.7M ($0.06/share) vs loss of $3.3M ($0.10/share) last year.
AFFO of $7.1M ($0.17/share) vs $5.5M ($0.13/share) a year ago; residential revenue up 11.8%.
Declared dividend of $0.095/share for Q2 2024, unchanged sequentially.
New residential leases executed at ~11% premiums over prior rents; renewals at ~7% premiums.
Flatbush Gardens Article 11 recovery underway; preliminary marketing of properties including 10W 65th St commenced.

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