Copper Property CTL Trust pays $0.3229/unit; JCPenney Q3 sales fall 8% YoY

Copper Property CTL Pass Through Trust

Cash distribution of $24.2M ($0.322926/unit) payable Jan 10, 2025 to holders of record Jan 9, 2025.
JCPenney Q3 net sales $1.41B (-8% YoY); net loss improved to $17M from $30M loss last year.
Store four-wall EBITDAR/rent coverage 0.8x in Q3, 1.3x trailing 12 months, reflecting weak coverage.
Penney Intermediate had $1.4B liquidity; $250M ABL borrowing fully repaid after quarter-end.
Q3 gross profit rate edged up to 38.7% from 38.5%; credit income rose to $93M vs $70M.

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