2 models fit Clipper Realty Inc. Common Stock and they disagree: 0 of 2 land within 15% of the average.
Two or more of our models back this value.
Large discount(i)Bronze59
Valued as a REIT (property company): Price to FFO and Dividend discount.
ACCE opinionClipper Realty Inc. Common Stock (CLPR)
Fair value (2 models)
$5.55
ACCE price target
$3.10
Rating
Undervalued
Horizon
12 months
Fair value published on 14 Oct 2026, 00:00 CEST; previously $5.03 since 22 Aug 2026, 00:00 CEST.
ACCE price target published on 15 Oct 2026, 00:00 CEST.
Rating published on 18 Oct 2026, 15:06 CEST.
Price used: $3.07 at the close on 23 Oct 2026, 22:00 CEST.
Models: Dividend discount and Price to FFO.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
44.7% below
+80.8% to fair value
ACCE score
40
out of 100
Analysts
0% buy
1 covering
P/E
0.0x
forward 0.0x
1-year return
-25.3%
Dividend yield
11.99%
Clipper Realty Inc. Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
Clipper Realty owns and operates a portfolio of rent-stabilized and market-rate apartment buildings concentrated in Brooklyn and Manhattan, and earns its income from residential rents and related fees. The equity is small at roughly $135M of market capitalization, and the stock sits outside every major index, which keeps coverage thin and liquidity limited. Revenue fell 1.2% over the latest period, and a 24.9% operating margin sits against a return on equity of -399.9%, so the balance sheet carries far more leverage than the shrinking equity base can absorb. Its 0.0 P/E reflects negative earnings rather than a cheap multiple, and the 30/100 score reflects that weak profitability and declining top line. The thesis only becomes worth pursuing if rent growth in its New York submarkets reverses the revenue decline and the company deleverages, and the first thing to check is whether the operating margin is converting into cash available to shareholders after debt service.
⚠ Investor warnings · 3 flagsAI-assisted·How I use AI
high
Revenue and earnings stalling
Revenue fell 1.2% year over year and earnings were flat at 0.0%, while net margin is -8.4%. Growth has stopped even though the five-year revenue CAGR is +4.5%.
high
Score down over 90 days
The ACCE score dropped from 36 to 30 over 90 days, with quality at 38 and momentum at 31. Deterioration in the composite is worth weighing before sizing a position.
moderate
Leveraged equity base
Debt to equity is -41.60 and return on equity is -399.9%, reflecting a negative equity base. Free cash flow of $23M is the main support for the balance sheet.
AI research notes
AI-assisted·How I use AIWritten Oct 21, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
The stock trades at a 17.1% free cash flow yield, so the cash it generates is large compared with its share price.
Free cash flow of $23M over the last twelve months suggests the business produces real cash despite its reported losses.
The company beat earnings expectations last quarter, with earnings per share of 0.09 against 0.05 expected.
Why it could disappoint
Net margin of -8.4% and a return on equity of -399.9% show the business is losing money on what it earns.
Revenue fell 1.2% year over year, well below its 4.5% five-year average growth per year.
Not one of the analysts covering the stock rates it Buy or Strong Buy, so the sell-side is not supportive.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 4, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
INVESTOR
Where CLPR's valuation models land
Price
$3.07
Model fair value
$5.55
Model range
$1.22 to $9.88
Fair value $5.55
Price $3.07
The price sits inside the model range.
Model
Fair value
Upside
Dividend discount
Price to FFO
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Quality
INVESTOR
Quality and conviction INVESTOR FEATURE
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
+A plain reason under every score
+Conviction breakdown and growth / value / quality / momentum scores