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 (CMCT) is a real estate investment trust focused on multifamily, creative office, hotel and SBA 7(a) lending activities in the United States. The CMCT news feed on Stock Titan aggregates company announcements, earnings releases, leasing updates and transaction disclosures drawn from Business Wire releases and SEC-referenced communications.
Readers following CMCT news can expect regular updates on its real estate portfolio performance, including office leasing activity, multifamily occupancy trends and operating metrics for its Northern California hotel. The company reports segment net operating income and other measures for its office, hotel, multifamily and lending segments, and provides commentary on leasing pipelines, renovations and asset repositioning, such as the conversion of office space into multifamily units.
News coverage also includes capital markets and corporate actions such as preferred stock dividend declarations for the Series A, Series A1 and Series D Preferred Stock, reverse stock split proposals, special and annual meeting results, and unregistered sales of equity securities related to preferred stock redemptions. Investors can review details on declared dividend rates, record dates and payment dates as disclosed in CMCT’s press releases.
Another key theme in CMCT’s news flow is its strategic focus on premier multifamily assets and balance sheet management. Management commentary has highlighted efforts to refinance mortgage loans, extend debt maturities, repay a recourse credit facility and pursue asset sales, including a definitive agreement to sell the company’s SBA 7(a) lending division to an affiliate of Peachtree Group. These items appear in both press releases and related Form 8-K filings.
By monitoring this page, investors and analysts can track CMCT’s ongoing leasing milestones, financing transactions, strategic initiatives involving its lending platform and governance developments documented through meeting announcements and voting results. Bookmark the CMCT news section to access a consolidated view of the company’s disclosed developments over time.
Creative Media and Community Trust (NASDAQ: CMCT) has secured a significant lease agreement with Boston Scientific Corporation (NYSE: BSX) at its Penn Field Campus in Austin, Texas. The approximately 11-year lease covers a 30,821-square-foot building, bringing the property's occupancy to 93%.
The Penn Field Campus, spanning 228,000 square feet across 16 acres in Austin's "SoCo" Business District, is a historic property originally developed in 1918 as a U.S. Army air base. The property has been transformed into a modern office campus while maintaining its historical character, featuring landscaped grounds and diverse tenants from technology, media, and entertainment sectors.
Creative Media & Community Trust (NASDAQ: CMCT) has declared preferred stock dividends for Q2 2025. The company will distribute dividends for its Series A, Series A1, and Series D Preferred Stock on July 15, 2025 to shareholders of record as of July 5, 2025.
The quarterly dividend amounts are: $0.34375 per share for Series A, $0.426875 per share for Series A1 (representing an annualized rate of 6.83%), and $0.353125 per share for Series D Preferred Stock.
Creative Media & Community Trust (NASDAQ: CMCT) has scheduled its first quarter 2025 earnings release for Friday, May 9, 2025, before market opening. The company will host a conference call at 12:00 p.m. Eastern Time on the same day to discuss financial results and business updates.
The call will feature CEO David Thompson, CFO Barry Berlin, and Portfolio Oversight Steve Altebrando. Participants can join via webcast at www.creativemediacommunity.com under the "Investors" tab, or by phone at 1-844-763-8274 (Domestic) or 1-412-717-9224 (International). A replay will be available for 90 days on the company's website.
Creative Media & Community Trust (NASDAQ: CMCT) has announced a significant 1-for-25 reverse stock split of its common stock, scheduled to take effect on April 15, 2025 at 12:01 a.m. Eastern Time. The company's stock will continue trading on the Nasdaq Global Market under the symbol 'CMCT' but with a new CUSIP number (12564W102).
Stockholders will receive one share for every twenty-five shares held, with cash payments provided for fractional shares based on the closing price on April 15, 2025. No action is required from stockholders holding shares in book-entry form or through intermediaries. Trading on the Tel Aviv Stock Exchange will be temporarily suspended on April 15, 2025, to accommodate necessary adjustments.
Creative Media & Community Trust (NASDAQ: CMCT) has successfully completed the full repayment and retirement of its recourse credit facility, following the closure of a mortgage on Penn Field, a 16-acre creative office campus in Austin, Texas. This achievement is part of the company's September 2024 strategic plan to focus on premier multifamily properties and strengthen its balance sheet.
The company has executed four non-recourse financings since announcing its refinancing plan:
- Sheraton Grand Hotel (Sacramento): $88.8M floating rate debt
- Wilshire Portfolio (Beverly Hills/Brentwood): $105.0M fixed rate debt
- 8944 Lindblade (Culver City): $4.6M floating rate debt
- 3601 South Congress/Penn Field (Austin): $35.5M floating rate debt
These financings were used to pay off the $169.3 million balance on its recourse credit facility and provided additional reserves for office leasing and hotel renovation funding.
Creative Media & Community Trust (NASDAQ: CMCT) has announced quarterly preferred stock dividend declarations for Q1 2025. The dividends will be paid on April 15, 2025 to stockholders of record as of April 5, 2025.
The quarterly cash dividend of $0.4425 per share represents an annualized dividend rate of 7.08%, calculated as 2.5% plus the federal funds rate of 4.58%. For Series A1 Preferred Stock, cumulative cash dividends are set at the greater of 6.00% of the Series A1 Stated Value (divided by four) or the Federal Funds Rate plus 2.50%, with a maximum quarterly cap of 2.50% of the Series A1 Stated Value.
Creative Media & Community Trust (NASDAQ: CMCT) reported its Q4 2024 results, highlighting key developments in its real estate portfolio. The company reported a net loss of $16.6 million, or $1.78 per diluted share. The same-store office portfolio was 71.0% leased, with 175,654 square feet of leases executed.
Notable financial activities included closing an $84.3 million variable-rate mortgage on their hotel property (with potential $7.9 million future advance) and a $105.0 million fixed-rate mortgage on three Los Angeles office properties. These refinancings enabled repayment of $154.3 million on their 2022 Credit Facility.
The company's portfolio comprises 27 assets, including 12 office properties, 4 multifamily properties, 9 development sites, and a 505-room hotel. The multifamily segment showed 81.7% occupancy with monthly rent per occupied unit at $2,468. The hotel segment experienced decreased NOI due to renovation-related occupancy impacts.
Creative Media & Community Trust (NASDAQ: CMCT) has scheduled its fourth quarter 2024 earnings release for Friday, March 7, 2025, before market opening. The company will host a conference call at 11:30 a.m. Eastern Time on the same day to discuss financial results and business updates.
The earnings call will feature presentations from CEO David Thompson, CFO Barry Berlin, and Portfolio Oversight Steve Altebrando.
Creative Media & Community Trust (NASDAQ: CMCT) has announced a one-for-ten reverse stock split effective January 6, 2025, at 12:01 a.m. Eastern Standard Time. The stock will begin trading on a split-adjusted basis on the Nasdaq Global Market the same day.
Every ten shares of CMCT common stock will be combined into one share. Stockholders who would hold fractional shares will receive cash payments based on the closing price on January 6, 2025. No action is required for stockholders holding shares in book-entry form or through intermediaries.
The trading symbol will remain 'CMCT' with a new CUSIP number of 125525527. Trading on the Tel Aviv Stock Exchange will be suspended on January 6, 2025, to implement necessary adjustments.