CMCT Announces Actions to Accelerate Focus Towards Premier Multifamily Assets
Creative Media & Community Trust Corporation (CMCT)
Last creative media & community trust corporation earnings: 3/16 08:00 am
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US:NASDAQ Investor Relations:
investors.cimcommercial.com
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Source: Business Wire
The Board of Directors Declares $0.04 Per Share Quarterly Common Dividend Payable in Common StockCMCT Announces Steps to Strengthen Balance Sheet and Improve Liquidity DALLAS--(BUSINESS WIRE)--CMCT (NASDAQ: CMCT and TASE: CMCT) announced today actions to accelerate the transition of its focus towards premier multifamily assets from traditional office assets and strengthen its balance sheet and liquidity.The Company has previously targeted a capital structure consisting of approximately 40% common equity, 30% preferred equity and 30% debt. The recent decline in real estate values, particularly in the Bay Area and the office market in general, has resulted in a lower than targeted common equity ratio. CMCT recently explored the sale of several high-quality assets to improve its common equity ratio. The offer CMCT received reflected what the Company believed to be the fair value of these assets, but the buyer was unable to close. As a result of this and the recent decline in interest
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CMCT
News
- Creative Media & Community Trust Co. (NASDAQ: CMCT) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- CMCT Completes Office to Residential Conversion Bringing 68 Luxury Apartments Above Existing Ground Floor Office Space to Los AngelesBusiness Wire
- Creative Media & Community Trust Co. (NASDAQ: CMCT) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Creative Media & Community Trust Co. (NASDAQ: CMCT) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Creative Media & Community Trust Co. (NASDAQ: CMCT) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
CMCT
Earnings
- 8/8/24 - Miss
CMCT
Sec Filings
- 9/27/24 - Form SC
- 9/26/24 - Form 4
- 9/26/24 - Form 8-K/A
- CMCT's page on the SEC website