Welcome to our dedicated page for Creative Media & Community Trust Corporation news (Ticker: CMCT), a resource for investors and traders seeking the latest updates and insights on Creative Media & Community Trust Corporation stock.
Creative Media & Community Trust Corporation (CMCT) is a dynamic entity dedicated to investing in, owning, and operating Class A and creative office spaces in urban areas across the United States. The company operates through three primary segments: Office, Hotel, and Multifamily Properties, and Lending.
In the Office segment, CMCT offers rental office spaces and other tenant services, including reimbursements, parking, and storage space rentals. The Hotel segment covers the operations of hotel properties, catering to guests with high-quality accommodations and amenities. Meanwhile, the Lending segment generates income from the yield on loans receivable, sales of government-guaranteed loan portions, and related fees.
The company's origins date back to 1994, when its founders concentrated on enhancing Southern California neighborhoods. Since then, CMCT has grown into a diverse team of over 990 professionals spread across the Americas. Their projects have significantly contributed to the communities they invest in by creating jobs, comfortable living spaces, and sustainable infrastructure.
CMCT remains steadfast in its mission to enhance communities through strategic real estate and infrastructure investments. The company continues to focus on creating value in real assets, benefiting the communities where it operates, and making a lasting impact.
For the latest updates and more information, please visit the company’s website.
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.
Creative Media & Community Trust (CMCT) has signed a long-term lease with O’Gara Coach for an 18,000-square-foot retail space at 9460 Wilshire Blvd in Beverly Hills. The location will be a flagship showroom for Rolls-Royce Motor Cars. This strategic lease is part of CMCT's plan to enhance its retail space and is indicative of the area's luxury market potential. O’Gara Coach, known for its luxury vehicle offerings, will occupy its new showroom in 2023, further solidifying CMCT's position in the vibrant Beverly Hills retail corridor, which is over 90% leased.
Creative Media & Community Trust Corporation (CMCT) reported a net loss of $2.3 million, or $0.10 per diluted share, for the second quarter of 2022. Despite the loss, Funds from Operations (FFO) increased to $2.6 million, reflecting significant operational improvements, particularly in hotel performance. The real estate portfolio was 87.2% leased, with 39,392 square feet leased during the quarter. CMCT acquired a property in Jefferson Park for $5.7 million, aiming to develop 114 residential units while managing a pipeline of investments through an asset-light approach.
Creative Media & Community Trust (CMCT) will announce its second quarter 2022 earnings results on August 9, 2022. A conference call will be held at 12:00 p.m. Eastern Time to discuss these results, featuring executives including CEO David Thompson and CFO Nate DeBacker. Interested listeners can access the call via webcast or phone, with replay options available until August 19, 2022. CMCT focuses on premier multifamily and creative office properties across the U.S., aiming to foster dynamic community growth.
CMCT has declared a quarterly cash dividend of $0.085 per share for common stock, payable on July 5, 2022. Additionally, the Series A Preferred Stock will yield $0.34375 per share, with payments scheduled from August 15, 2022 to October 17, 2022. The Series A1 Preferred Stock will pay $0.375 per share for the second and third quarters, with payments from July 15, 2022 to October 17, 2022. Lastly, Series D Preferred Stock will offer $0.353125 per share, payable from August 15, 2022 onwards.
Creative Media & Community Trust Corporation (NASDAQ: CMCT) has authorized a $10 million stock repurchase program to enhance shareholder value. CEO David Thompson highlighted the company's improving financial performance and identified opportunities to buy shares at a discount. The repurchase will occur in the open market or through private transactions, with no set termination date, allowing flexibility based on market conditions. Since its public listing in 2014, CMCT has actively returned capital to shareholders through various methods, including share repurchases and dividends.
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