Quarterly ResultMay 8, 2026, 06:12 AM
CMCT Q1 Net Loss $(34.7)M; FFO $(28.8)M; Sells Lending Business
AI Summary
Creative Media & Community Trust Corporation reported a net loss of $(34.7) million, or $(70.52) per diluted share, and FFO of $(28.8) million, or $(58.47) per diluted share, for Q1 2026. The company completed the sale of its lending business for approximately $44.9 million and redeemed $242.8 million of Preferred Stock, significantly improving its balance sheet and liquidity. Operating trends showed improvement in the multifamily portfolio, with occupancy rising to 91.4%.
Key Highlights
- Reported Q1 2026 net loss of $(34.7) million, or $(70.52) per diluted share.
- FFO attributable to common stockholders was $(28.8) million, or $(58.47) per diluted share.
- Completed sale of lending business for approximately $44.9 million, yielding $31.2 million net cash.
- Redeemed $242.8 million of Preferred Stock in Q1 2026, expecting $16.0 million annual FFO improvement.
- Multifamily portfolio occupancy increased to 91.4%, up 1,120 basis points from Q1 2025.
- Office portfolio was 73.1% leased; 85.7% excluding the Oakland Office Building.
- Hotel RevPAR was $178.71 for Q1 2026, up from $176.47 in Q1 2025.
- Undepreciated common book value was $147.22 per share.