CMCT Q3 net loss widens to $22.9M ($1.01/sh); FFO negative $7.5M

Creative Media & Community Trust Corp

2023-Q3 EPS reported -$2.62 revenue$89,790,000

Net loss attributable to common stockholders of $22.9M, or $1.01 per diluted share, vs. $11.7M ($0.50) in Q3 2022.
FFO attributable to common stockholders was negative $7.5M ($0.33/share), down from negative $6.6M ($0.28) YoY.
Core FFO negative $7.1M ($0.31/share), compared to negative $1.5M ($0.07) in prior year.
Same-store office portfolio 83.9% leased; executed 29,291 sq ft of leases during Q3.
Issued 1.09M Series A1 Preferred shares for net proceeds of $25.1M; reduced revolving credit by $15M.

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