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Creative Media & Community Trust Corporation (CMCT)
:CMCT
Earnings Data
Report Date
May 20, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
―Last Year’s EPS
-0.54Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 07, 2025
|% Change Since: -70.67%
|Next Earnings Date:May 20, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted significant progress in reducing corporate debt and improvements in core FFO. However, there were notable declines in segment NOI across office, multifamily, hotel, and lending businesses. The sentiment of the call is balanced between positive strategic debt reduction and challenges in operational performance.Company Guidance
During the fourth quarter of fiscal year 2024, Creative Media & Community Trust (CMCT) made significant strides in improving its financial position and strategic focus. The company successfully reduced its recourse corporate credit facility from $169 million to $15 million, primarily through the closure of three mortgages totaling approximately $202.2 million. This included a $92.2 million mortgage on the Sheraton Grand Hotel in Sacramento, a $105 million mortgage on the Wilshire portfolio in Los Angeles, and a $5 million mortgage in Culver City. CMCT's core funds from operations (FFO) improved by $4.5 million from the prior quarter, driven by a $1.6 million increase in net operating income (NOI), with notable contributions from the hotel segment, which rose by $1.1 million. However, the company reported a negative FFO of $8.7 million or $0.93 per diluted share, an improvement from the previous year's negative $9.9 million or $4.07 per diluted share. The multifamily segment saw a modest increase in NOI, despite a 220 basis point decline in occupancy from the previous quarter. CMCT is actively pursuing a 1 for 25 reverse stock split and continues to focus on divesting office assets while growing its multifamily portfolio.Significant Reduction in Recourse Credit Facility
The balance on the recourse corporate level credit facility was reduced from $169 million to $15 million due to successful closing of three mortgages.
Core FFO Improvement
Core FFO improved by approximately $4.5 million from the prior quarter primarily due to higher NOI, lower interest expense, and lower preferred dividends.
Sheraton Grand Hotel Mortgage
A $92.2 million mortgage was closed on the Sheraton Grand Hotel in Sacramento, with proceeds used to pay down the credit facility and fund room renovations.
Wilshire Portfolio Mortgage
A $105 million mortgage was closed on the Wilshire portfolio in Los Angeles, with proceeds used to reduce the credit facility and reserve for lease-up costs.
Progress in Multifamily Lease-Up
The residential portion of 4750 Wilshire is now 40% leased, up from 10% on the last call, showing progress in leasing strategy.
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CMCT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CMCT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 07, 2025 | $0.75 | $0.72 | -4.00% |
| Nov 08, 2024 | $3.92 | $3.78 | -3.57% |
| Aug 08, 2024 | $21.37 | $21.17 | -0.94% |
| May 15, 2024 | $28.47 | $28.57 | +0.35% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Creative Media & Community Trust Corporation (CMCT) report earnings?
Creative Media & Community Trust Corporation (CMCT) is schdueled to report earning on May 20, 2025, TBA Not Confirmed.
What is Creative Media & Community Trust Corporation (CMCT) earnings time?
Creative Media & Community Trust Corporation (CMCT) earnings time is at May 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CMCT EPS forecast?
Currently, no data Available
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