Copper Property Trust distributes $19.6M ($0.260844/unit); JCPenney Q2 net loss $33M

Copper Property CTL Pass Through Trust

Distribution of $0.260844 per trust certificate payable Oct 10, 2024 to holders of record Oct 9, 2024.
JCPenney Q2 (Aug 3, 2024) total revenues $1,526M vs $1,681M YoY; net loss $33M vs profit $36M.
JCPenney six-month net loss $96M vs profit $19M; adjusted EBITDA $29M vs $108M prior year.
Retail portfolio: 126 properties, 16.8M sq ft; tenant EBITDAR/Rent 1.3x (Q2) and 1.4x (TTM).
JCPenney liquidity ~$1.7B, no borrowings on $1.75B revolver; inventory down 2% YoY.

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