Overview

* Clipper Realty ( CLPR ) Q2 revenue rises 5%

* Adjusted FFO for Q2 increases 18% to $8.3 mln, driven by rental revenue

* Company reports Q2 net loss of $1.4 mln, impacted by impairment charge

Outlook

* Company continues to see high occupancy and strong renter demand

* Company actively seeking solutions for 250 Livingston Street vacancy

* The owner and operator of multifamily residential and commercial properties expects continued rental recoveries at Flatbush Gardens

Result Drivers

* RESIDENTIAL LEASING - Strong demand and high occupancy drove residential revenue, with new leases and renewals exceeding previous rents by 14% and 6%, respectively

* DEAN STREET DEVELOPMENT - Completion of construction and start of leasing at Dean Street, along with bridge financing, aimed at reducing interest costs and supporting operations

* PROPERTY SALE - Sale of 10 West 65th Street property generated nearly $13 mln in cash, contributing to financial results

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss $39 mln $39.10

Revenue mln (1

Analyst)

Q2 Net -$1.40

Income mln

Q2 $8.30

Adjusted mln

FFO

Q2 $0.095

Dividend

Q2 $10.10

Income mln

From

Operatio

ns

Analyst Coverage

* The one available analyst rating on the shares is "sell"

* The average consensus recommendation for the residential reits peer group is "buy."

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)