Clipper Realty Inc. (CLPR) Q2 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.133 Good day, ladies and gentlemen, and welcome to the Clipper Realty Q2 00:00:05.133 -- 00:00:10.254 earnings conference call. At this time, all participants are in a listen-only mode, 00:00:10.254 -- 00:00:14.656 and the floor will be open for your questions and comments after the presentation. 00:00:14.656 -- 00:00:20.078 It is now my pleasure to turn the floor over to your host, Lawrence Saba, Corporate Controller. 00:00:20.078 -- 00:00:22.918 Lawrence, the floor is yours. 00:00:23.419 -- 00:00:28.005 Good afternoon, and thank you for joining us for the second quarter, 2026. 00:00:28.005 -- 00:00:30.848 Clipper Realty Inc. Earnings Conference Call. 00:00:30.848 -- 00:00:35.552 Participating with me on today's call are David Bistricer, Co-Chairman of the Board and 00:00:35.552 -- 00:00:40.376 Chief Executive Officer, and Larry Kreider, Chief Financial Officer. 00:00:40.376 -- 00:00:44.580 Please be aware that statements made during the call that are not historical may be deemed 00:00:44.580 -- 00:00:49.405 forward-looking statements and actual results may differ materially from those indicated 00:00:49.405 -- 00:00:54.052 by such forward-looking statements. Thank you for joining us. 00:01:14.107 -- 00:01:19.208 The forward-looking statements speak only as of the date of this call, August 6, 00:01:19.208 -- 00:01:23.409 2026, and the company undertakes no duty to update them. 00:01:23.409 -- 00:01:27.689 During this call, management may refer to certain non-GAAP 00:01:28.610 -- 00:01:34.211 financial measures, including adjusted funds from operations, or AFFO, 00:01:34.211 -- 00:01:39.272 adjusted earnings before interest, taxes, depreciation, and amortization, or adjusted 00:01:39.272 -- 00:01:44.290 EBITDA, and net operating income...