Creative Media & Community Trust Corporation (CMCT) reported a funds from operations (FFO) loss of $7 million, or 75 cents per share, for the fourth quarter ended December 31, 2024. This FFO loss is a key indicator of the REIT's operational performance.
The company's net loss attributable to common stockholders for the three months ended December 31, 2024, was $(12.3) million, or $(1.32) per diluted share. This compares to a net loss of $(10.2) million, or $(1.10) per diluted share, for the same period in 2023.
CMCT noted progress in reducing debt and improving financial performance, despite challenges in segment net operating income. The company is executing a strategic pivot towards premier multifamily assets and strengthening its balance sheet.
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