GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Clipper Realty Inc (NYSE:CLPR) » Definitions » Piotroski F-Score

Clipper Realty (Clipper Realty) Piotroski F-Score : 6 (As of Jul. 16, 2024)


View and export this data going back to 2017. Start your Free Trial

What is Clipper Realty Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Clipper Realty has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Clipper Realty's Piotroski F-Score or its related term are showing as below:

CLPR' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 6
Current: 6

During the past 10 years, the highest Piotroski F-Score of Clipper Realty was 6. The lowest was 3. And the median was 5.


Clipper Realty Piotroski F-Score Historical Data

The historical data trend for Clipper Realty's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Clipper Realty Piotroski F-Score Chart

Clipper Realty Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 4.00 3.00 6.00 5.00

Clipper Realty Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 4.00 6.00 5.00 6.00

Competitive Comparison of Clipper Realty's Piotroski F-Score

For the REIT - Residential subindustry, Clipper Realty's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Clipper Realty's Piotroski F-Score Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Clipper Realty's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Clipper Realty's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was -1.249 + -0.881 + -1.083 + -1.011 = $-4.2 Mil.
Cash Flow from Operations was 9.8 + -0.091 + 9.055 + 6.252 = $25.0 Mil.
Revenue was 34.543 + 35.128 + 34.867 + 35.76 = $140.3 Mil.
Gross Profit was 19.061 + 19.824 + 19.718 + 20.002 = $78.6 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(1237.398 + 1225.819 + 1239.759 + 1249.33 + 1263.943) / 5 = $1243.2498 Mil.
Total Assets at the begining of this year (Mar23) was $1,237.4 Mil.
Long-Term Debt & Capital Lease Obligation was $1,226.7 Mil.
Total Current Assets was $53.4 Mil.
Total Current Liabilities was $15.6 Mil.
Net Income was -1.119 + -1.057 + -1.27 + -2.687 = $-6.1 Mil.

Revenue was 31.887 + 32.8 + 33.009 + 33.667 = $131.4 Mil.
Gross Profit was 17.073 + 17.281 + 16.945 + 17.032 = $68.3 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(1226.779 + 1233.071 + 1228.992 + 1229.631 + 1237.398) / 5 = $1231.1742 Mil.
Total Assets at the begining of last year (Mar22) was $1,226.8 Mil.
Long-Term Debt & Capital Lease Obligation was $1,178.0 Mil.
Total Current Assets was $53.3 Mil.
Total Current Liabilities was $13.9 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Clipper Realty's current Net Income (TTM) was -4.2. ==> Negative ==> Score 0.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Clipper Realty's current Cash Flow from Operations (TTM) was 25.0. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar23)
=-4.224/1237.398
=-0.00341361

ROA (Last Year)=Net Income/Total Assets (Mar22)
=-6.133/1226.779
=-0.00499927

Clipper Realty's return on assets of this year was -0.00341361. Clipper Realty's return on assets of last year was -0.00499927. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Clipper Realty's current Net Income (TTM) was -4.2. Clipper Realty's current Cash Flow from Operations (TTM) was 25.0. ==> 25.0 > -4.2 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=1226.688/1243.2498
=0.98667862

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=1178.037/1231.1742
=0.95684023

Clipper Realty's gearing of this year was 0.98667862. Clipper Realty's gearing of last year was 0.95684023. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar24)=Total Current Assets/Total Current Liabilities
=53.414/15.579
=3.42858977

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=53.251/13.938
=3.82056249

Clipper Realty's current ratio of this year was 3.42858977. Clipper Realty's current ratio of last year was 3.82056249. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Clipper Realty's number of shares in issue this year was 16.063. Clipper Realty's number of shares in issue last year was 16.063. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=78.605/140.298
=0.56027171

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=68.331/131.363
=0.5201693

Clipper Realty's gross margin of this year was 0.56027171. Clipper Realty's gross margin of last year was 0.5201693. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar23)
=140.298/1237.398
=0.11338147

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=131.363/1226.779
=0.1070796

Clipper Realty's asset turnover of this year was 0.11338147. Clipper Realty's asset turnover of last year was 0.1070796. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+1+1+1+0+0+1+1+1
=6

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Clipper Realty has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Clipper Realty  (NYSE:CLPR) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Clipper Realty Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Clipper Realty's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Clipper Realty (Clipper Realty) Business Description

Traded in Other Exchanges
N/A
Address
4611 12th Avenue, Suite 1L, Brooklyn, NY, USA, 11219
Clipper Realty Inc is a self-administered and self-managed real estate company. It acquires, owns, manages, operates and repositions multifamily residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn. It has classified its reporting segments into commercial and residential rental properties. Clipper derives its revenue mostly from a Residential segment.
Executives
Howard M Lorber director 4400 BISCAYNE BLVD, 10TH FLOOR, MIAMI FL 33137
Harmon Spolan director OOZEN O CONNOR, 1900 MARKET ST 4TH FL, PHILADELPHIA PA 19103
Sam Levinson director, 10 percent owner 9190 PRIORITY WAY WEST DRIVE, SUITE 300, INDIANAPOLIS IN 46240
David Bistricer director, 10 percent owner, officer: Co-Chairman and CEO PO BOX 407, BROOKLIN NY 11219
Michael Charles Frenz officer: Chief Financial Officer C/O CLIPPER REALTY INC, 4611 12TH AVENUE, SUITE 1L, BROOKLYN NY 11219
Roberto Angelo Verrone director 200 HIGHLAND AVENUE, SHORT HILLS NJ 07078
Robert Jay Ivanhoe director GREENBERG TRAURIG, LLP, 200 PARK AVENUE, NEW YORK NY 10166
Richard N Burger director P.O. BOX 28543, SCOTTSDALE AZ 85255
Lawrence E Kreider officer: Chief Financial Officer 600 GRANT STREET, SUITE 900, DENVER CO 80203
Jacob Bistricer officer: Chief Operating Officer 4611 12TH AVENUE, SUITE 1L, BROOKLYN NY 11219
Jacob Schwimmer officer: Chief PM Offcier 1738 47TH STREET, BROOKLYN NY 11204