Added to YB: 2024-11-07
Pitch date: 2024-11-07
CLPR [bullish]
Clipper Realty Inc.
-33.58%
current return
Author Info
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Company Info
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.
Market Cap
$67.0M
Pitch Price
$5.63
Price Target
12.00 (+221%)
Dividend
9.16%
EV/EBITDA
17.33
P/E
-4.04
EV/Sales
8.22
Sector
Residential REITs
Category
value
Clipper Realty: Deep Discount to NAV with Strong NYC Multifamily Holdings
CLPR: NYC Class A multifamily REIT at 50% NAV discount. Tribeca House alone worth 75% of market cap. Pacific & Clover House add $53M net. Dean Street dev & other assets free. NAV $9-12/share vs $5.80 price. 6.5% div yield. Strong supply/demand fundamentals. Non-recourse debt.
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