NYSE:CLPR

Stock Analysis Report

Executive Summary

Clipper Realty Inc. (NYSE: CLPR) is a self-administered and self-managed real estate company that acquires, owns, manages, operates and repositions multifamily residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn.


Snowflake Analysis

Reasonable growth potential average dividend payer.

Share Price & News

How has Clipper Realty's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CLPR's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-9.3%

CLPR

15.8%

US REITs

7.2%

US Market


1 Year Return

-61.1%

CLPR

-20.1%

US REITs

-10.4%

US Market

Return vs Industry: CLPR underperformed the US REITs industry which returned -20.1% over the past year.

Return vs Market: CLPR underperformed the US Market which returned -10.4% over the past year.


Shareholder returns

CLPRIndustryMarket
7 Day-9.3%15.8%7.2%
30 Day-53.9%-19.2%-12.6%
90 Day-50.9%-24.6%-19.4%
1 Year-59.4%-61.1%-16.8%-20.1%-8.5%-10.4%
3 Year-56.2%-61.1%-0.7%-13.1%15.8%8.3%
5 Yearn/a13.3%-10.2%35.8%21.0%

Price Volatility Vs. Market

How volatile is Clipper Realty's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Clipper Realty undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CLPR ($5.2) is trading below our estimate of fair value ($10.74)

Significantly Below Fair Value: CLPR is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CLPR is unprofitable, so we can't compare its PE Ratio to the REITs industry average.

PE vs Market: CLPR is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CLPR's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CLPR is overvalued based on its PB Ratio (1.6x) compared to the US REITs industry average (1.3x).


Next Steps

Future Growth

How is Clipper Realty forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

154.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CLPR is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.7%).

Earnings vs Market: CLPR is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: CLPR's is expected to become profitable in the next 3 years.

Revenue vs Market: CLPR's revenue (8.4% per year) is forecast to grow faster than the US market (7.2% per year).

High Growth Revenue: CLPR's revenue (8.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CLPR's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Clipper Realty performed over the past 5 years?

-35.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CLPR is currently unprofitable.

Growing Profit Margin: CLPR is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CLPR is unprofitable, and losses have increased over the past 5 years at a rate of -35.4% per year.

Accelerating Growth: Unable to compare CLPR's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CLPR is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (5%).


Return on Equity

High ROE: CLPR has a negative Return on Equity (-2.91%), as it is currently unprofitable.


Next Steps

Financial Health

How is Clipper Realty's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: CLPR has a high level of physical assets or inventory.

Debt Coverage by Assets: CLPR's debt is not covered by short term assets (assets are 0.1x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable CLPR has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: CLPR is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 26.7% per year.


Financial Institutions Analysis

Asset Level: CLPR's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if CLPR has a sufficient allowance for bad loans.

Low Risk Liabilities: CLPR reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if CLPR has an acceptable proportion of non-loan assets held.

Low Risk Deposits: CLPR has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if CLPR has an appropriate level of bad loans.


Next Steps

Dividend

What is Clipper Realty's current dividend yield, its reliability and sustainability?

7.31%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CLPR's dividend (7.31%) is higher than the bottom 25% of dividend payers in the US market (1.95%).

High Dividend: CLPR's dividend (7.31%) is in the top 25% of dividend payers in the US market (5.4%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, CLPR has been paying a dividend for less than 10 years.

Growing Dividend: CLPR's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (43.6%), CLPR's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CLPR's dividends in 3 years are forecast to be thoroughly covered by earnings (1.5% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.2yrs

Average management tenure


CEO

David Bistricer (69yo)

5.17s

Tenure

US$840,048

Compensation

Mr. David Bistricer is a Principal in E.B. Acquisitions, LLC. Mr. Bistricer serves as the Co-Chairman and Chief Executive Officer of Clipper Realty Inc. Mr. Bistricer has been a private investor since 1990 ...


CEO Compensation Analysis

Compensation vs Market: David's total compensation ($USD840.05K) is below average for companies of similar size in the US market ($USD1.49M).

Compensation vs Earnings: David's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
David Bistricer
Co-Chairman & CEO5.17yrsUS$840.05k5.14% $12.3m
Jacob Bistricer
Chief Operating Officer5.17yrsUS$572.16k0.56% $1.3m
Michael Frenz
Chief Financial Officer0.67yrno datano data
Jacob Schwimmer
Chief Property Management Officerno datano data0.58% $1.4m

5.2yrs

Average Tenure

48yo

Average Age

Experienced Management: CLPR's management team is seasoned and experienced (5.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
David Bistricer
Co-Chairman & CEO5.17yrsUS$840.05k5.14% $12.3m
Howard Lorber
Independent Director5.17yrsUS$95.63k0.11% $269.0k
Harmon Spolan
Independent Director2yrsUS$68.75kno data
Shmuel Levinson
Co-Chairman of the Board5.17yrsUS$205.79k1.79% $4.3m
Richard Burger
Independent Director2yrsUS$68.75k0.0042% $10.1k
Robert Ivanhoe
Independent Director5.17yrsUS$75.63kno data
Roberto Verrone
Director5.17yrsUS$75.63k0.011% $25.8k

5.2yrs

Average Tenure

69yo

Average Age

Experienced Board: CLPR's board of directors are considered experienced (5.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Clipper Realty Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Clipper Realty Inc.
  • Ticker: CLPR
  • Exchange: NYSE
  • Founded: 2015
  • Industry: Residential REITs
  • Sector: Real Estate
  • Implied Market Cap: US$239.637m
  • Market Cap: US$92.636m
  • Shares outstanding: 44.13m
  • Website: https://www.clipperrealty.com

Number of Employees


Location

  • Clipper Realty Inc.
  • 4611 12th Avenue
  • Suite 1L
  • Brooklyn
  • New York
  • 11219
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CLPRNYSE (New York Stock Exchange)YesCommon StockUSUSDFeb 2017

Biography

Clipper Realty Inc. (NYSE: CLPR) is a self-administered and self-managed real estate company that acquires, owns, manages, operates and repositions multifamily residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/31 03:40
End of Day Share Price2020/03/30 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.