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.
CMCT (NASDAQ:CMCT) is expanding its multifamily portfolio by acquiring 696 apartment units across three properties, emphasizing its focus on premier multifamily and creative office assets in high-barrier markets. Planned acquisitions include the 75-unit Parkview Apartments in Echo Park, Los Angeles, and the 288-unit Eleven Fifty Clay in Oakland, expected to close in mid-February and late March, respectively. CMCT's development pipeline also exceeds 1,500 units, indicating potential growth. This asset-light strategy aims to generate fee income and returns on investments, enhancing shareholder value.
CMCT's Board of Directors has declared preferred stock dividends for Series A, A1, and D Preferred Stock for Q1 2023. The quarterly cash dividend for Series A is $0.34375, payable in three installments: $0.114583 on February 15, March 15, and April 17. Series A1's dividend is set at $0.395625, yielding an annualized rate of 6.33%, with payments of $0.131875 on the same dates. Series D's dividend stands at $0.353125, also payable monthly. These dividends demonstrate CMCT's commitment to returning value to shareholders.
CMCT (NASDAQ: CMCT) has announced a full cash redemption of its Series L Preferred Stock on January 25, 2023, at a price of USD 28.37 per share plus unpaid dividends. This involves 2,951,876 outstanding shares. Conversion of the redemption price from USD to ILS will occur on January 19, 2023. Additionally, CMCT plans to delist the Series L Preferred Stock from Nasdaq after filing Form 25 on the same date. Dividends on these shares ceased on December 31, 2022.
Creative Media & Community Trust Corporation (CMCT) announced the cash redemption of its 5.5% Series L Preferred Stock at a price of $28.37 per share, plus accrued dividends, with a redemption date set for January 25, 2023. This decision aligns with CMCT's commitment to its Series L Preferred Stock terms. CMCT, focused on owning and developing multifamily and creative office assets, operates primarily in the U.S., targeting vibrant communities and rapidly growing industries.
CMCT (NASDAQ: CMCT) has secured a new $206 million credit facility, maturing in December 2025, which replaces the prior facility due in October 2023. CEO David Thompson expressed confidence in the facility's potential to enhance the company's capital position for future opportunities. CMCT is a real estate investment trust focused on multifamily and creative office assets across the U.S., aiming to leverage its diversified capital sources as it enters the new year.
CMCT (NASDAQ: CMCT) has declared a quarterly cash dividend of $0.085 per share, payable on January 9, 2023, to stockholders of record by December 27, 2022. Additionally, an annual cash dividend of $1.56035 per share for Series L Preferred Stock will be paid on January 25, 2023, to holders of record by December 29, 2022. CMCT focuses on premier multifamily and creative office properties in the U.S., enhancing shareholder income through consistent dividend payouts.
Creative Media & Community Trust Corporation (CMCT) has appointed John Hope Bryant to its Board of Directors. Mr. Bryant is the CEO of Bryant Group Ventures and The Promise Homes Company, the largest minority-controlled owner of single-family rental homes in the U.S. Since founding TPHC in 2017, he has established a significant presence in the real estate market. Additionally, he is involved in philanthropic activities as the Founder and CEO of Operation HOPE, Inc., focusing on financial literacy and economic empowerment.
Creative Media & Community Trust Corporation (NASDAQ: CMCT) reported its Q3 2022 results, showing an office portfolio leased at 86.5%. The company executed leases for 58,666 square feet and acquired a property in Austin for $1.9 million. However, net loss attributable to common stockholders increased to $11.7 million, or $0.50 per diluted share. Funds from operations (FFO) was $(6.6) million. The company repurchased $4.4 million in common stock and $66.7 million in Series L Preferred Stock. Management remains optimistic about multifamily developments set to begin in early 2023.
Creative Media & Community Trust (NASDAQ: CMCT) will announce its third-quarter 2022 earnings results on November 14, 2022, after market hours. A conference call is set for 12:00 p.m. ET on November 15, 2022, featuring key executives including CEO David Thompson and CFO Barry Berlin, to discuss the financial results and business outlook. The call can be accessed via a webcast on their official website and is available for replay until November 25, 2022.
CMCT (NASDAQ: CMCT) announced the declaration of a quarterly cash dividend of $0.085 per share, payable on October 17, 2022, to stockholders of record as of October 3, 2022. Additionally, dividends for Series A, Series A1, and Series D Preferred Stocks were declared, amounting to $0.34375, $0.375, and $0.353125 per share, respectively. Payments for these preferred stocks will occur in three installments from November 15, 2022 to January 17, 2023 for each series.