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:   2024-10-07T23:59:59+00:00
Accession:  0001837671-24-000049
Event type: dividend
Sentiment:  negative
Materiality: 0.60
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1837671/000183767124000049/0001837671-24-000049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1837671/000183767124000049/cpt-20241007.htm
  HTML page:      https://secwatch.observer/filing/0001837671-24-000049

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