secwatch.observer — SEC 8-K summary
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Issuer:     Copper Property CTL Pass Through Trust (CPPTL)
CIK:        0001837671
Form:       8-K
Filed at:   2024-07-08T23:59:59+00:00
Accession:  0001837671-24-000035
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Copper Property Trust pays $0.2794/certificate; JCPenney Q1 net loss widens to $63M
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- Cash distribution of $0.279359 per certificate ($20.95M total) payable July 10, 2024 to holders of record July 9, 2024.
- JCPenney Q1 FY2024 net sales $1.368B, down 8.1% YoY from $1.489B; net loss $63M vs. $17M loss a year ago.
- Comparable store sales for master lease properties decreased 6.3% in Q1 vs prior year quarter.
- JCPenney reported negative consolidated adjusted EBITDA of $3M for Q1, driven by sales declines offset by cost savings.
- Tenant portfolio 127 properties, 16.96M sqft; quarterly four-wall EBITDAR/rent coverage 1.1x, TTM 1.5x.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1837671/000183767124000035/0001837671-24-000035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1837671/000183767124000035/cpt-20240708.htm
  HTML page:      https://secwatch.observer/filing/0001837671-24-000035

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