CMCT Q2 net loss reaches $11 million
- Creative Media & Community Trust reported a Q2 2026 net loss of $11 million, while same-store multifamily occupancy improved to 95.3%.
- CMCT shares were up 9.82% at $5.59 in extended trading following the earnings release.
- The company continues to evaluate real estate asset sales as it shifts its portfolio toward multifamily properties and works to strengthen liquidity.
Creative Media & Community Trust (NASDAQ:CMCT) reported a second-quarter net loss of $11 million, or $4.03 per diluted share, while multifamily occupancy improved.
The net loss narrowed from $14.3 million a year earlier, while FFO improved to a $3.5 million loss from a $7.9 million loss.
Total segment net operating income declined 5.2% to $9.3 million, although NOI excluding losses from unconsolidated entities increased 22.2% to $12.5 million.
Same-store multifamily occupancy reached 95.3%, while office leasing excluding the Oakland property increased to 84.4%, and CMCT declined to refinance the Oakland building’s $97.1 million mortgage.
Following the announcement, Creative Media & Community Trust's share price was up 9.82% at $5.59 in extended trading.
Since September 2024, CMCT says it has financed nine assets, retired its recourse credit facility, sold its lending business and redeemed about $397.7 million of preferred stock.
The company continues to evaluate potential asset sales while completing renovations across its 505-room hotel and considering eight additional rooms from underused space.
