earnings
confidence high
sentiment negative
materiality 0.70
CMCT Q1 net loss $12.3M; core FFO falls to $(4.4)M on higher interest costs
Creative Media & Community Trust Corp
2024-Q1 EPS
reported -$0.54
vs consensus -$12497.55
▲ beat
(+100.0%)
- Net loss $12.3M ($0.54/diluted) vs $12.7M loss ($0.56) in Q1 2023.
- FFO $(5.9)M ($(0.26)/share) vs $(4.8)M ($(0.21)) prior year; core FFO $(4.4)M ($(0.19)).
- Segment NOI $13.6M (+$0.6M YoY); office NOI $7.9M, hotel $4.1M flat, lending $789K vs $1.4M.
- Same-store office 83.7% leased (83.0% occupied); leased 36,961 sq ft of leases.
- Issued 853,879 Series A1 preferred shares for $19.1M net; maintained $0.085/share common dividend.