Welcome to our dedicated page for Creative Media & news (Ticker: CMCT), a resource for investors and traders seeking the latest updates and insights on Creative Media & stock.
Creative Media & Community Trust Corporation is a REIT that owns, operates and develops multifamily and creative office assets in U.S. communities, with one hotel in Northern California. Its news commonly covers quarterly operating results, office leasing trends, multifamily development activity, asset sales, balance-sheet actions and preferred stock dividends or redemptions.
CMCT updates also address capital-structure changes, including reverse stock splits and exchanges of preferred stock into common stock, as well as shareholder voting and governance matters. The company is operated by affiliates of CIM Group, L.P., which provides real estate acquisition, development, leasing, finance and property-management capabilities.
CIM Commercial Trust Corporation (NASDAQ: CMCT) declared a quarterly cash dividend of $0.075 per common share, payable on December 29, 2020, to stockholders of record by December 14, 2020. Additionally, the Board announced cash dividends for Series A Preferred Stock, totaling $0.34375 per share, and Series D Preferred Stock at $0.353125 per share, with payments scheduled from February 16, 2021 to April 15, 2021. An annual dividend of $1.56035 for Series L Preferred Stock will be paid on January 19, 2021.
CIM Commercial Trust Corporation (NASDAQ: CMCT) reported a net loss of $9.68 million, or $(0.65) per diluted share, for Q3 2020, a significant increase from a $1.62 million loss in Q3 2019. The company’s same-store office portfolio was 80.2% leased, down from 87.8% year-over-year, largely due to decreased occupancy in Beverly Hills and new developments. Funds from operations (FFO) were $(4.41 million) versus $3.26 million in Q3 2019. Despite challenges, 97% of rents were collected. Management aims for long-term growth in net operating income through cost reductions and improved property performance.