Creative Media & Community Trust posts $34.7 million Q1 net loss; sold lending unit
Creative Media & Community Trust reported a net loss attributable to common stockholders of $34.7 million for the first quarter of 2026, up from $11.9 million a year earlier, and an FFO loss of $28.8 million. The company attributed the increase mainly to a $21.9 million rise in preferred stock redemptions and a $1.9 million decline in segment net operating income. Per-share figures are adjusted for two 1-for-10 reverse stock splits, and management said the March 2026 preferred redemption is expected to improve FFO by about $16.0 million per year.
Key points
- Net loss attributable to common stockholders was $34.7 million, or $70.52 per diluted share, for the quarter ended March 31, 2026, versus $11.9 million, or $1,983.00 per diluted share, a year earlier.
- FFO was $(28.8) million, or $(58.47) per diluted share; Core FFO was $(5.9) million, or $(11.89) per diluted share.
- The company sold its First Western lending business on January 21, 2026, for a purchase price of approximately $44.9 million, with net cash proceeds of approximately $31.2 million.
- In March 2026 the company redeemed approximately $242.8 million of preferred stock into common stock, which it expects to significantly reduce preferred dividends beginning in the second quarter of 2026.
The filing
Written by AI on Nov 9, 2026, 8:28 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 07, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.