Creative Media & Community Trust Corporation (CMCT) reported a funds from operations (FFO) loss of $11.5 million, or 40 cents per share, for the third quarter ended September 30, 2024. FFO is a key metric for evaluating the performance of real estate investment trusts.
The company's Q3 2024 results indicate ongoing financial challenges, as reflected by the reported FFO loss. Management has stated a focus on increasing multifamily assets and refinancing efforts to enhance liquidity and cash flow.
These results provide investors with an update on CMCT's financial trajectory amidst its strategic pivot. The company continues to navigate market conditions while pursuing initiatives to strengthen its balance sheet and portfolio composition.
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