Clipper Realty Inc
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Real Estate : Equity Real Estate Investment Trusts (REITs) | Small Cap Value
Company profile

Clipper Realty, Inc. is a real estate investment trust, which acquires, owns, manages, operates and repositions multi-family residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn. The Company's segments include Commercial and Residential. As of June 30, 2016, it owned two residential/retail rental properties at 50 Murray Street and 53 Park Place in the Tribeca neighborhood of Manhattan, referred to as the Tribeca House properties. As of June 30, 2016, it also owned a residential property complex in the East Flatbush neighborhood of Brooklyn consisting of 59 buildings, referred to as the Flatbush Gardens properties or complex. As of June 30, 2016, it owned two primarily commercial properties in Downtown Brooklyn (one of which included 36 residential apartment units), referred to as the 141 Livingston Street property and the 250 Livingston Street property, and also owned the Aspen property.

Closing Price
$7.95
Day's Change
0.00 (0.00%)
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Volume
(Light)
Volume:
0

10-day average volume:
85,695
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Hertz posts wider Q1 loss after 'major' coronavirus business disruption

5:54 pm ET May 11, 2020 (MarketWatch)
Print

Shares of Hertz Global Holdings Inc. (HTZ) fell late Monday after the car rental company posted a wider-than-expected first-quarter loss, saying that results were "significantly impacted by COVID-19 pandemic." Hertz said it lost $356 million, or $2.50 a share, in the quarter, compared with a loss of $147 million, or $1.54 a share, in the year-ago period. Adjusted for one-time items, Hertz said it lost $1.78 a share, compared with a loss of 87 cents a year ago. Revenue fell to $1.92 billion from $2.11 billion a year ago. Analysts polled by FactSet had expected an adjusted loss of $1.21 a share on sales of $1.95 billion. The year started well, Hertz Chief Executive Kathryn V. Marinello said in a statement. "Yet in just two months, the outbreak of the coronavirus created a major business disruption as global travel demand dropped to almost zero and the U.S. used-car market effectively shut down. We immediately shifted our business priorities to focus on employee and customer safety, expense mitigation and preserving liquidity," she said. Hertz said that during the quarter it drew down $595 million from a credit line and ended the period with about $1 billion in cash and cash equivalents. Hertz reportedly has hired advisers (http://www.marketwatch.com/story/hertz-stock-falls-nearly-20-after-wsj-reports-another-bankruptcy-adviser-hired-2020-05-04) to guide it with its debt load and ahead of a possible bankruptcy filing. Shares had ended the regular trading day down 2.5%.

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

May 11, 2020 17:54 ET (21:54 GMT)

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