Clipper Realty Inc. Q4 2024 Earnings Conference Call

February 18, 2025 5:00 PM ET

Company Participants:

Lawrence Sava – Corporate Controller

David Bistricer – Co-Chairman and CEO

Jacob Bistricer – COO

Lawrence Kreider – CFO

Welcome to the Clipper Realty Quarterly Earnings Call. Today, we will be discussing the financial performance of Clipper Realty Inc. for the fourth quarter of 2024. We have with us our Corporate Controller, Lawrence Sava, our Co-Chairman and CEO, David Bistricer, our COO, Jacob Bistricer, and our CFO, Lawrence Kreider.

During this earnings call, we will review our financial results and provide insights into our strategic initiatives moving forward. We will also address any questions or comments from participants after the presentation.

Now, I would like to turn the call over to Lawrence Sava, our Corporate Controller, to provide an overview of our financial performance for the quarter.

Thank you, Lawrence. As mentioned, Clipper Realty had a strong fourth quarter, with revenues exceeding expectations and net income showing significant growth compared to the same period last year. This performance can be attributed to our continued focus on operational efficiency and strategic investments in our properties.

Next, I will hand it over to David Bistricer, our Co-Chairman and CEO, to discuss our key achievements and upcoming goals.

Thank you, Lawrence. In the fourth quarter of 2024, Clipper Realty successfully completed several acquisitions, further expanding our portfolio of high-quality properties in prime locations. We also launched several initiatives to enhance tenant satisfaction and drive long-term value for our shareholders.

Now, I will pass it on to Jacob Bistricer, our COO, to elaborate on our operational performance and asset management strategies.

Thank you, David. During the fourth quarter, we focused on optimizing property performance through proactive asset management and cost control measures. Our team successfully implemented efficiency improvements across our properties, resulting in increased tenant retention and overall profitability.

Lastly, I will turn it over to Lawrence Kreider, our CFO, to provide an in-depth analysis of our financial results and future outlook.

Thank you, Jacob. Looking ahead, we remain confident in Clipper Realty’s strong financial position and growth prospects. Our disciplined approach to capital allocation and ongoing investments in our properties will drive sustainable value creation for our stakeholders in the long run.

Conclusion:

In conclusion, the fourth quarter of 2024 was a successful period for Clipper Realty, marked by robust financial performance and strategic growth initiatives. As we continue to focus on operational excellence and value creation, we are confident in our ability to deliver long-term shareholder value and maintain our position as a leader in the real estate industry.

How This Will Affect Me:

As a potential investor, the positive financial results and growth prospects of Clipper Realty Inc. indicate a promising opportunity for investment. The company’s strong performance in the fourth quarter points to a solid foundation for future growth and value creation, which may result in attractive returns for shareholders.

How This Will Affect the World:

Clipper Realty’s success and continued expansion in the real estate market contribute to economic growth and development at both a local and global level. By investing in high-quality properties and driving innovation in property management, Clipper Realty plays a crucial role in shaping the future of the real estate industry and creating sustainable value for the communities it serves.