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Friday 6 November 2026
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Clipper Realty Inc.
CLPR Real Estate Reit Residential
Clipper Realty Inc.’s revenue for fiscal 2025 (year ended December 2025) was $153.2 million, up 2.98% from fiscal 2024.
- Revenue
- +7.39%
- EPS
- −28.6%
- Free cash flow
- −6.27%
Quarter to September 2026, against a year earlier
3.20
0.13
−3.90%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 93 | 104 | 110 | 116 | 123 | 123 | 130 | 138 | 149 | 153 | 154 | +5.7% | 155 | 158 | — | +1.7% | |
| Gross margin, % | 53.57 | 54.10 | 54.94 | 53.64 | 52.63 | 51.56 | 52.32 | 54.73 | 57.03 | 55.37 | 0.00 | +1.8 pt | ||||||
| EBT | (12) | (6) | (9) | (4) | (12) | (20) | (13) | (16) | (7) | (52) | (35) | +17.4% | ||||||
| EBT margin, % | (13.27) | (5.77) | (8.18) | (3.55) | (9.95) | (16.31) | (9.69) | (11.26) | (4.42) | (34.16) | (22.43) | (20.9) pt | ||||||
| Net income | (12) | (6) | (9) | (4) | (12) | (20) | (13) | (16) | (7) | (52) | (35) | +17.4% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 8.14 | 6.11 | 6.18 | 6.52 | 6.97 | 7.64 | 8.08 | 8.60 | 9.23 | 9.49 | 9.55 | +1.7% | |||||
| Earnings | (0.34) | (0.15) | (0.22) | (0.11) | (0.31) | (0.51) | (0.36) | (0.45) | (0.25) | (1.38) | (0.97) | +16.8% | ||||||
| Cash flow | 0.82 | 0.77 | 1.26 | 1.33 | 0.91 | 0.67 | 1.25 | 1.63 | 1.98 | 1.40 | 1.47 | +6.1% | ||||||
| Capex | (1.59) | (1.19) | (2.24) | (2.46) | (1.80) | (2.21) | (2.83) | (2.57) | (4.27) | 0.75 | (0.57) | n/m | ||||||
| Free cash flow | (0.77) | (0.42) | (0.98) | (1.12) | (0.90) | (1.54) | (1.58) | (0.94) | (2.29) | 2.15 | 0.89 | n/m | ||||||
| Book value | 11.05 | 10.90 | 9.07 | 7.96 | 5.91 | 4.35 | 2.31 | 0.45 | (0.88) | (5.00) | (7.11) | n/m | ||||||
| Shares, m | 11 | 17 | 18 | 18 | 18 | 16 | 16 | 16 | 16 | 16 | 16 | +3.9% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | 5.48 | 1.64 | 2.12 | 1.63 | 1.01 | 1.30 | 0.83 | 0.62 | 0.50 | 0.40 | 0.34 | 1.6 | ||||||
| P/B | 4.04 | 0.92 | 1.44 | 1.33 | 1.19 | 2.28 | 2.91 | 11.90 | 0.00 | 0.00 | 0.00 | 2.6 | ||||||
| EV/Sales | 4.96 | 1.43 | 1.70 | 1.14 | 0.29 | 0.88 | 0.60 | 0.36 | 0.24 | 0.02 | (0.01) | 1.2 | ||||||
| EV/FCF | (126.67) | (20.60) | (10.67) | (6.59) | (2.23) | (4.35) | (3.07) | (3.29) | (0.97) | 0.10 | (0.14) | (17.8) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 9 | 13 | 22 | 24 | 16 | 11 | 20 | 26 | 32 | 23 | 24 | +10.3% | |||||
| Capex | (18) | (20) | (40) | (44) | (32) | (36) | (45) | (41) | (69) | 12 | (9) | n/m | ||||||
| Free cash flow | (9) | (7) | (18) | (20) | (16) | (25) | (25) | (15) | (37) | 35 | 14 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | (710) | (824) | (877) | (950) | (995) | (1,088) | (1,143) | (1,185) | (1,241) | (1,229) | (1,248) | +6.3% | |||||
| Net debt | (49) | (22) | (46) | (57) | (89) | (52) | (31) | (36) | (38) | (58) | (54) | +2.0% | ||||||
| Shareholders’ equity | 126 | 186 | 161 | 142 | 104 | 70 | 37 | 7 | (14) | (81) | (115) | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (0.42) | (0.27) | (0.36) | (0.18) | (0.45) | (0.67) | (0.47) | (0.48) | (0.31) | (1.58) | 0.00 | (1.2) pt | |||||
| ROIC | 20.79 | 11.25 | 17.55 | 24.67 | 133.20 | 85.19 | 265.20 | 0.00 | 0.00 | 0.00 | 0.00 | (20.8) pt | ||||||
| ROE | (2.75) | (1.66) | (2.25) | (1.31) | (4.38) | (9.47) | (10.70) | (26.57) | 113.68 | 41.90 | 0.00 | +44.7 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 180 | 177 | 203 | 198 | 156 | 144 | 147 | 148 | 171 | 161 | — | (1.2%) | |||||
| Revenue/emp, $m | 0.52 | 0.59 | 0.54 | 0.59 | 0.79 | 0.85 | 0.88 | 0.93 | 0.87 | 0.95 | — | +7.0% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 4 Nov 2026
Clipper Realty Inc. vs peers in Reit Residential (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| IRT Independence Realty Trust, Inc. | $3.7B | 57.9× | 92.2× | +2.97% (above 0%: growing) | +264.00% (above 0%: growing) | +235.79% (above 0%: growing) | 58.16% | 16.71% | Compare |
| UMH UMH Properties, Inc. | $1.3B | 143× | 99.7× | +10.78% (above 0%: growing) | −27.40% (below 0%: shrinking) | +16.10% (above 0%: growing) | 53.76% | 18.37% | Compare |
| CSR Centerspace | $1.0B | 8.8× | — (loss-making) | −16.64% (below 0%: shrinking) | +165.61% (above 0%: growing) | +226.92% (above 0%: growing) | 86.32% | 254.51% | Compare |
| NXRT NexPoint Residential Trust, Inc. | $435.3M | — (loss-making) | — (loss-making) | +2.61% (above 0%: growing) | n/m | +25.98% (above 0%: growing) | 60.54% | 9.87% | Compare |
| BSRT BSR Real Estate Investment Trust | $402.9M | — | — | — | — | — | — | — | Compare |
| BRT BRT Apartments Corp. | $239.6M | — (loss-making) | — (loss-making) | +1.23% (above 0%: growing) | n/m | +5.58% (above 0%: growing) | 100.00% | 11.79% | Compare |
| AIV Apartment Investment and Management Company | $229.5M | 0.4× | — (loss-making) | +3,292.65% (above 0%: growing) | n/m | +226.39% (above 0%: growing) | (20.10%) | (337.31%) | Compare |
| BHM Bluerock Homes Trust, Inc. | $80.4M | — (loss-making) | — | +15.03% (above 0%: growing) | n/m | +51.15% (above 0%: growing) | 100.00% | (28.96%) | Compare |
| CLPR Clipper Realty Inc. | $53.3M | — (loss-making) | — (loss-making) | +7.39% (above 0%: growing) | n/m | −6.27% (below 0%: shrinking) | 0.00% | 24.41% | |
| Median of peers | $419.1M | 33.4× | — | +2.97% | +165.61% | +51.15% | 60.54% | 11.79% |
Pay and ownership Proxy statement filed 30 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 2.05m | 1.33m | 77.50 |
| 2024 | 3.45m | 3.28m | 83.44 |
| 2023 | 2.03m | 1.90m | 90.31 |
Ownership
Directors and executive officers, together
51.40%
David Bistricer
22.70%
Sam Levinson
21.50%
ES
6.10%
David Bistricer Trust of
6.10%
Moric Bistricer Trust of
6.10%
Jacob Schwimmer
5.60%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement