Welcome to our dedicated page for Creative Media & Community Trust news (Ticker: CMCT), a resource for investors and traders seeking the latest updates and insights on Creative Media & Community Trust 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.
CMCT (NASDAQ: CMCT, TASE: CMCT) announced its Board of Directors has declared dividends on its Series A, Series A1, and Series D Preferred Stock for Q3 2024. The declared dividends are as follows:
For Series A: $0.34375 per share per quarter ($0.114583 monthly) with record dates on August 5, September 5, and October 5, 2024, and payment dates on August 15, September 16, and October 15, 2024.
For Series A1: $0.489375 per share per quarter ($0.163125 monthly), reflecting a 7.83% annualized rate, with the same record and payment dates.
For Series D: $0.353125 per share per quarter ($0.117708 monthly), with the same record and payment dates.
This quarterly dividend reflects steady income for shareholders.
CMCT (NASDAQ: CMCT) has announced that its Board of Directors has declared a quarterly cash dividend of $0.085 per share of common stock.
This dividend will be paid on July 22, 2024, to shareholders who are recorded as of the close of business on July 8, 2024.
Creative Media & Community Trust (CMCT) reported its Q1 2024 results, highlighting a net loss of $12.3 million or $0.54 per diluted share. The company executed 36,961 sq. ft. of office leases and had an 83.7% lease rate in its same-store office portfolio. FFO was reported at $(5.9) million or $(0.26) per diluted share, while Core FFO was $(4.4) million or $(0.19) per diluted share. CMCT's portfolio includes 27 assets across office, multifamily, hotel properties, and development sites. Key financial metrics show improved office NOI, driven by higher rental revenues in Beverly Hills and Los Angeles, but the company faces challenges from elevated short-term interest rates.
Creative Media & Community Trust (NASDAQ: CMCT; TASE: CMCT) will release its first quarter 2024 earnings results after the market closes on May 15, 2024. A conference call to discuss the results is scheduled for May 16, 2024, at 12:00 p.m. Eastern Time. The call will be hosted by CEO David Thompson, CFO Barry Berlin, and Portfolio Oversight Steve Altebrando. Interested parties can listen via webcast by visiting the investors' section of the company's website or via phone. An archived replay will be available for 90 days on the same website.
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