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Clipper Realty

NYSE:CLPR
Snowflake Description

Reasonable growth potential with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CLPR
NYSE
$572M
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

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. The last earnings update was 11 days ago. More info.


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CLPR Share Price and Events
7 Day Returns
0.2%
NYSE:CLPR
1.8%
US REITs
-0.7%
US Market
1 Year Returns
40.9%
NYSE:CLPR
16.3%
US REITs
3%
US Market
CLPR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Clipper Realty (CLPR) 0.2% -1.8% 2.4% 40.9% - -
US REITs 1.8% 2.4% 3.1% 16.3% 13.8% 26.4%
US Market -0.7% -2% 2.4% 3% 39.2% 42%
1 Year Return vs Industry and Market
  • CLPR outperformed the REITs industry which returned 16.3% over the past year.
  • CLPR outperformed the Market in United States of America which returned 3% over the past year.
Price Volatility
CLPR
Industry
5yr Volatility vs Market

CLPR Value

 Is Clipper Realty undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Clipper Realty to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Clipper Realty.

NYSE:CLPR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:CLPR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (159.87%))
1.135
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.14
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.135 * 5.96%)
9.5%

Discounted Cash Flow Calculation for NYSE:CLPR using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Clipper Realty is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Clipper Realty is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:CLPR DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 9.5%)
2019 21.06 Analyst x2 19.23
2020 28.96 Analyst x3 24.16
2021 33.63 Analyst x1 25.62
2022 39.21 Est @ 16.6% 27.28
2023 44.09 Est @ 12.44% 28.01
2024 48.29 Est @ 9.52% 28.02
2025 51.91 Est @ 7.49% 27.51
2026 55.05 Est @ 6.06% 26.65
2027 57.84 Est @ 5.06% 25.57
2028 60.36 Est @ 4.36% 24.37
Present value of next 10 years cash flows $256.41
NYSE:CLPR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $60.36 × (1 + 2.73%) ÷ (9.5% – 2.73%)
$916.59
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $916.59 ÷ (1 + 9.5%)10
$370.03
NYSE:CLPR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $256.41 + $370.03
$626.44
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $626.44 / 44.13
$14.19
NYSE:CLPR Discount to Share Price
Calculation Result
Value per share (USD) From above. $14.19
Current discount Discount to share price of $12.95
= -1 x ($12.95 - $14.19) / $14.19
8.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Clipper Realty is available for.
Intrinsic value
9%
Share price is $12.95 vs Future cash flow value of $14.19
Current Discount Checks
For Clipper Realty to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Clipper Realty's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Clipper Realty's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Clipper Realty's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Clipper Realty's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:CLPR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-0.02
NYSE:CLPR Share Price ** NYSE (2019-05-17) in USD $12.95
United States of America REITs Industry PE Ratio Median Figure of 156 Publicly-Listed REITs Companies 32.79x
United States of America Market PE Ratio Median Figure of 3,088 Publicly-Listed Companies 17.89x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Clipper Realty.

NYSE:CLPR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:CLPR Share Price ÷ EPS (both in USD)

= 12.95 ÷ -0.02

-692.74x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Clipper Realty is loss making, we can't compare its value to the US REITs industry average.
  • Clipper Realty is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Clipper Realty's expected growth come at a high price?
Raw Data
NYSE:CLPR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -692.74x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
131.3%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.4x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Clipper Realty, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Clipper Realty's assets?
Raw Data
NYSE:CLPR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $3.56
NYSE:CLPR Share Price * NYSE (2019-05-17) in USD $12.95
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.86x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
NYSE:CLPR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:CLPR Share Price ÷ Book Value per Share (both in USD)

= 12.95 ÷ 3.56

3.63x

* Primary Listing of Clipper Realty.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Clipper Realty is overvalued based on assets compared to the US REITs industry average.
X
Value checks
We assess Clipper Realty's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Clipper Realty has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CLPR Future Performance

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

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
131.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Clipper Realty expected to grow at an attractive rate?
  • Clipper Realty's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Clipper Realty's earnings growth is expected to exceed the United States of America market average.
  • Clipper Realty's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:CLPR Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:CLPR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 131.3%
NYSE:CLPR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 8.4%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.7%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:CLPR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:CLPR Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 133 1
2020-12-31 132 5 3
2019-12-31 115 2 2
NYSE:CLPR Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 111 28 0
2018-12-31 110 27 -4
2018-09-30 109 27 -4
2018-06-30 107 21 -5
2018-03-31 106 20 -6
2017-12-31 104 10 -3
2017-09-30 101 12 -3
2017-06-30 100 9 -3
2017-03-31 97 10 -3
2016-12-31 93 9 -4
2016-09-30 90 9 -4
2016-06-30 87 4 -1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Clipper Realty's earnings are expected to grow significantly at over 20% yearly.
  • Clipper Realty's revenue is expected to grow by 8.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:CLPR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Clipper Realty Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CLPR Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.65 0.65 0.65 1.00
2020-12-31 0.24 0.37 0.10 2.00
2019-12-31 -0.08 -0.08 -0.08 1.00
NYSE:CLPR Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -0.02
2018-12-31 -0.22
2018-09-30 -0.22
2018-06-30 -0.28
2018-03-31 -0.32
2017-12-31 -0.15
2017-09-30 -0.19
2017-06-30 -0.22
2017-03-31 -0.28
2016-12-31 -0.34
2016-09-30 -0.32
2016-06-30 -0.05

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Clipper Realty will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Clipper Realty's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Clipper Realty has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CLPR Past Performance

  How has Clipper Realty performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Clipper Realty's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Clipper Realty does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Clipper Realty's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Clipper Realty's 1-year growth to the US REITs industry average as it is not currently profitable.
Earnings and Revenue History
Clipper Realty's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Clipper Realty Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CLPR Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 110.78 -0.33 8.40
2018-12-31 110.00 -3.90 9.87
2018-09-30 109.44 -3.88 10.26
2018-06-30 107.50 -5.01 10.90
2018-03-31 105.56 -5.77 10.89
2017-12-31 103.95 -2.59 9.94
2017-09-30 100.87 -2.89 9.37
2017-06-30 99.70 -3.00 9.27
2017-03-31 96.54 -3.37 8.77
2016-12-31 93.01 -3.87 8.41
2016-09-30 89.77 -3.69 8.35
2016-06-30 86.73 -0.53 7.36
2016-03-31 85.43 -0.92 6.20
2015-12-31 84.60 -1.38 5.30
2015-09-30 77.36 0.21 3.90
2015-06-30 67.71 0.30 3.22
2015-03-31 57.74 2.77 2.79
2014-12-31 47.77 5.24 2.36
2013-12-31 41.46 3.41 1.78

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Clipper Realty has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Clipper Realty used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • It is difficult to establish if Clipper Realty improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Clipper Realty's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Clipper Realty has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CLPR Health

 How is Clipper Realty's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Clipper Realty's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Clipper Realty is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Clipper Realty's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Clipper Realty's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Clipper Realty Company Filings, last reported 1 month ago.

NYSE:CLPR Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 157.25 913.68 29.38
2018-12-31 161.49 913.56 37.05
2018-09-30 167.04 873.11 12.48
2018-06-30 169.64 872.58 15.89
2018-03-31 172.91 871.32 24.55
2017-12-31 185.59 843.95 8.12
2017-09-30 190.24 810.04 54.86
2017-06-30 195.35 810.52 68.63
2017-03-31 200.57 754.80 105.21
2016-12-31 126.22 754.46 37.96
2016-09-30 131.16 807.89 82.10
2016-06-30 135.49 806.93 104.06
2016-03-31 146.38 713.44 125.33
2015-12-31 146.38 713.44 125.33
2015-09-30 151.06 720.92 126.97
2015-06-30 35.94 721.08 15.63
2015-03-31 35.94 721.08 15.63
2014-12-31 37.20 708.23 9.16
2013-12-31 -4.66 187.14 3.80
  • Clipper Realty's level of debt (581%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (5492.4% vs 581% today).
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.

  • Whilst loss making Clipper Realty has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Clipper Realty has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -56.8% per year.
X
Financial health checks
We assess Clipper Realty's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Clipper Realty has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CLPR Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.93%
Current annual income from Clipper Realty dividends. Estimated to be 3% next year.
If you bought $2,000 of Clipper Realty shares you are expected to receive $59 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Clipper Realty's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Clipper Realty's dividend is below the markets top 25% of dividend payers in United States of America (3.69%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:CLPR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2000 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:CLPR Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.40 1.00
2020-12-31 0.39 2.00
2019-12-31 0.38 2.00
NYSE:CLPR Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-09 0.380 2.923
2019-03-07 0.380 2.876
2018-11-01 0.380 2.915
2018-08-10 0.380 3.045
2018-05-10 0.380 4.056
2018-03-08 0.380 4.568
2017-10-27 0.380 3.950
2017-10-26 0.380 3.476
2017-07-27 0.380 3.473
2017-05-15 0.380 3.234
2017-03-30 0.340 2.977

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Clipper Realty has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Clipper Realty only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Clipper Realty's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (72.1x coverage).
X
Income/ dividend checks
We assess Clipper Realty's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Clipper Realty afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Clipper Realty has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CLPR Management

 What is the CEO of Clipper Realty's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
David Bistricer
COMPENSATION $840,048
AGE 68
TENURE AS CEO 4.3 years
CEO Bio

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. Since 1995, Mr. Bistricer has been the managing member of Berkshire Capital LLC, a real estate investment firm operating in New York and New Jersey. He has been the managing member of Clipper Equity for more than 10 years. Mr. Bistricer served as the Co-Chairman of Coleman Cable Inc. at Copperfield, LLC from January 1999 to February 2011. Mr. Bistricer served as co-chairman of Riblet Products Corporation from January 1987 to 2000. He served as a Member of the Board of Directors of TTCM China Inc. since December 1999.

CEO Compensation
  • David's compensation has increased whilst company is loss making.
  • David's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Clipper Realty management team in years:

4.3
Average Tenure
57.5
Average Age
  • The tenure for the Clipper Realty management team is about average.
Management Team

David Bistricer

TITLE
Co-Chairman & CEO
COMPENSATION
$840K
AGE
68
TENURE
4.3 yrs

Larry Kreider

TITLE
CFO & Secretary
COMPENSATION
$509K
AGE
70
TENURE
4.3 yrs

JJ Bistricer

TITLE
Chief Operating Officer
COMPENSATION
$572K
AGE
37
TENURE
4.3 yrs

Michael Frenz

TITLE
Head of Capital Markets
TENURE
1.9 yrs

Jacob Schwimmer

TITLE
Chief Property Management Officer
AGE
47
Board of Directors Tenure

Average tenure and age of the Clipper Realty board of directors in years:

4.3
Average Tenure
68
Average Age
  • The tenure for the Clipper Realty board of directors is about average.
Board of Directors

Sam Levinson

TITLE
Co-Chairman of the Board
COMPENSATION
$206K
AGE
44
TENURE
4.3 yrs

David Bistricer

TITLE
Co-Chairman & CEO
COMPENSATION
$840K
AGE
68

Howard Lorber

TITLE
Director
COMPENSATION
$96K
AGE
69
TENURE
4.3 yrs

Robert Ivanhoe

TITLE
Director
COMPENSATION
$76K
AGE
64
TENURE
4.3 yrs

Roberto Verrone

TITLE
Director
COMPENSATION
$76K
AGE
50
TENURE
4.3 yrs

Harmon Spolan

TITLE
Independent Director
COMPENSATION
$69K
AGE
82
TENURE
1.3 yrs

Richard Burger

TITLE
Independent Director
COMPENSATION
$69K
AGE
68
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Clipper Realty's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Clipper Realty has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CLPR News

Simply Wall St News

Is Clipper Realty Inc (NYSE:CLPR) A Healthy REIT?

Clipper Realty Inc is a US$620m. … real estate investment trust (REIT) based in Brooklyn, United States. … This term is very common in the REIT investing world as it provides a cleaner look at its cash flow from daily operations by excluding impact of one-off activities or non-cash items such as depreciation.

Simply Wall St -

You May Have Been Looking At Clipper Realty Inc (NYSE:CLPR) All Wrong

Clipper Realty Inc is a US$378.20m. … REITs own and operate income-generating property and adhere to a different set of regulations. … Check out our latest analysis for Clipper Realty

Simply Wall St -

One Metric To Rule Them All: Clipper Realty Inc (NYSE:CLPR)

With an interest coverage ratio of 0.29x, CLPR is not generating an appropriate amount of cash from its borrowings. … Instead of the P/E ratio, P/FFO is used instead, which is very common for REIT stocks. … I'd strongly recommend continuing your research on the following areas I believe are key fundamentals for CLPR: Future Outlook: What are well-informed industry analysts predicting for CLPR’s future growth?

Simply Wall St -

Read This Before Buying Clipper Realty Inc (NYSE:CLPR) For Its Upcoming $0.1 Dividend

Check out our latest analysis for Clipper Realty 5 questions I ask before picking a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Does it pay an annual yield higher than 75% of dividend payers? … NYSE:CLPR Historical Dividend Yield Mar 17th 18 Does Clipper Realty pass our checks? … Next Steps: After digging a little deeper into Clipper Realty's yield, it's easy to see why you should be cautious investing in the company just for the dividend.

Simply Wall St -

CLPR Company Info

Description

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.

Details
Name: Clipper Realty Inc.
CLPR
Exchange: NYSE
Founded: 2015
$571,510,280
$230,700,002
44,132,068
Website: http://www.clipperrealty.com
Address: Clipper Realty Inc.
4611 12th Avenue,
Suite 1L,
Brooklyn,
New York, 11219,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE CLPR Common Stock New York Stock Exchange US USD 10. Feb 2017
Number of employees
Current staff
Staff numbers
203
Clipper Realty employees.
Industry
Residential REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 03:10
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/16
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.