other material
confidence high
sentiment negative
materiality 0.75
CIM Real Estate Finance Trust updates NAV to $5.22/share, down 14% from prior $6.09
CIM REAL ESTATE FINANCE TRUST, INC.
- Estimated per-share NAV set at $5.22 as of Dec 31, 2024, down from $6.09 as of Jan 31, 2024.
- Primary driver of decline: decrease in value of office-related investments.
- Kroll valuation range was $5.12-$5.32; board selected midpoint of $5.22.
- DRIP and share redemption program will use $5.22 per share starting March 28, 2025.
- Company intends to update NAV annually during first quarter each year.