CMCT Q2 2024 net loss $9.7M; Core FFO $(0.09)/share, improved YoY

Creative Media & Community Trust Corp

2024-Q2 EPS reported -$0.97 vs consensus -$13997.21 ▲ beat (+100.0%)

Net loss attributable to common stockholders $9.7M ($0.43/diluted share) vs $23.8M loss in Q2 2023.
Core FFO $(2.1)M ($(0.09)/share) vs $(3.9)M prior year; segment NOI up to $16.2M from $12.0M.
Same-store office portfolio 83.5% leased; 52,346 sq ft of leases executed with terms >12 months.
Issued 364,754 shares Series A1 Preferred for net $8.3M; borrowed $15M on revolving credit facility.
Common dividend $0.085/share quarterly declared; evaluating asset sales for debt reduction.

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