Creative Media & Community Trust (CMCT)
Market Price (6/20/2026): $4.0 | Market Cap: $0.2 MilSector: Real Estate | Industry: Office REITs
Creative Media & Community Trust (CMCT)
Market Price (6/20/2026): $4.0Market Cap: $0.2 MilSector: Real EstateIndustry: Office REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -98% Megatrend and thematic driversMegatrends include Digital Content & Streaming, Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include Gaming Content & Platforms, Show more. | Weak multi-year price returns2Y Excs Rtn is -138%, 3Y Excs Rtn is -172% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 247318% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.3%, Rev Chg QQuarterly Revenue Change % is -8.9% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -35% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -21043% High stock price volatilityVol 12M is 237% Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 99% Key risksCMCT key risks include [1] the high execution risk and persistent financial strain of its strategic pivot to multifamily properties, Show more. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -98% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include Gaming Content & Platforms, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -138%, 3Y Excs Rtn is -172% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 247318% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.3%, Rev Chg QQuarterly Revenue Change % is -8.9% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -35% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -21043% |
| High stock price volatilityVol 12M is 237% |
| Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 99% |
| Key risksCMCT key risks include [1] the high execution risk and persistent financial strain of its strategic pivot to multifamily properties, Show more. |
Qualitative Assessment
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Creative Media & Community Trust (CMCT) stock has lost about 100% since 2/28/2026 because of the following key factors:
1. Creative Media & Community Trust (CMCT) experienced significant financial deterioration, reporting a widened net loss attributable to common stockholders of $34.7 million, or $(70.52) per diluted share, for the first quarter of 2026. This represents a substantial increase from the $11.9 million net loss in Q1 2025. Additionally, Funds From Operations (FFO) attributable to common stockholders was negative, at $(28.8) million, or $(58.47) per diluted share.
2. The company's ongoing balance sheet restructuring included substantial dilution to common shareholders through the redemption of preferred stock into common shares. Approximately $242.8 million of preferred stock was redeemed in March 2026 by issuing common shares, contributing to cumulative preferred redemptions of $396.2 million since September 2024. While aimed at reducing future preferred dividend obligations, this action led to increased dilution for existing common stockholders.
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Creative Media & Community Trust (CMCT) stock has lost about 100% since 2/28/2026 because of the following key factors:
1. Creative Media & Community Trust (CMCT) experienced significant financial deterioration, reporting a widened net loss attributable to common stockholders of $34.7 million, or $(70.52) per diluted share, for the first quarter of 2026. This represents a substantial increase from the $11.9 million net loss in Q1 2025. Additionally, Funds From Operations (FFO) attributable to common stockholders was negative, at $(28.8) million, or $(58.47) per diluted share.
2. The company's ongoing balance sheet restructuring included substantial dilution to common shareholders through the redemption of preferred stock into common shares. Approximately $242.8 million of preferred stock was redeemed in March 2026 by issuing common shares, contributing to cumulative preferred redemptions of $396.2 million since September 2024. While aimed at reducing future preferred dividend obligations, this action led to increased dilution for existing common stockholders.
3. CMCT faced declining revenue and persistent weakness in its key real estate segments, exacerbated by broader commercial real estate headwinds. Revenue in Q1 2026 decreased by 8.9% year-over-year to $29.4 million. The office segment's Net Operating Income (NOI) fell to $6.5 million from $7.1 million in Q1 2025, and hotel NOI also decreased due to renovation disruptions. The company acknowledged "ongoing challenges in the commercial real estate sector" and "broader uncertainty around office demand," leading to a cautious outlook from Wall Street.
4. The company implemented two 1-for-10 reverse stock splits within a short period, signaling severe prior stock price depreciation and efforts to maintain Nasdaq listing compliance. CMCT effected a 1-for-10 reverse stock split on March 26, 2026, followed by another 1-for-10 reverse stock split on April 20, 2026. These actions, while mechanically increasing the per-share price, are typically undertaken by companies whose stock prices have fallen significantly, reflecting a substantial loss in underlying market value.
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Stock Movement Drivers
Fundamental Drivers
The -98.1% change in CMCT stock from 2/28/2026 to 6/19/2026 was primarily driven by a -87.7% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 214.00 | 3.98 | -98.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 116 | 114 | -1.6% |
| P/S Multiple | 0.0 | 0.0 | -87.7% |
| Shares Outstanding (Mil) | 0 | 0 | -84.7% |
| Cumulative Contribution | -98.1% |
Market Drivers
2/28/2026 to 6/19/2026| Return | Correlation | |
|---|---|---|
| CMCT | -98.1% | |
| Market (SPY) | 9.2% | 0.7% |
| Sector (XLRE) | 0.7% | 3.0% |
Fundamental Drivers
The -99.0% change in CMCT stock from 11/30/2025 to 6/19/2026 was primarily driven by a -93.7% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 417.00 | 3.98 | -99.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 116 | 114 | -1.6% |
| P/S Multiple | 0.0 | 0.0 | -93.7% |
| Shares Outstanding (Mil) | 0 | 0 | -84.7% |
| Cumulative Contribution | -99.0% |
Market Drivers
11/30/2025 to 6/19/2026| Return | Correlation | |
|---|---|---|
| CMCT | -99.0% | |
| Market (SPY) | 9.9% | 4.5% |
| Sector (XLRE) | 7.1% | 2.2% |
Fundamental Drivers
The -99.5% change in CMCT stock from 5/31/2025 to 6/19/2026 was primarily driven by a -96.4% change in the company's P/S Multiple.| (LTM values as of) | 5312025 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 775.00 | 3.98 | -99.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 123 | 114 | -7.3% |
| P/S Multiple | 0.0 | 0.0 | -96.4% |
| Shares Outstanding (Mil) | 0 | 0 | -84.7% |
| Cumulative Contribution | -99.5% |
Market Drivers
5/31/2025 to 6/19/2026| Return | Correlation | |
|---|---|---|
| CMCT | -99.5% | |
| Market (SPY) | 28.1% | 4.3% |
| Sector (XLRE) | 8.8% | 0.4% |
Fundamental Drivers
The -100.0% change in CMCT stock from 5/31/2023 to 6/19/2026 was primarily driven by a -99.8% change in the company's P/S Multiple.| (LTM values as of) | 5312023 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 113050.71 | 3.98 | -100.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 106 | 114 | 7.3% |
| P/S Multiple | 1.0 | 0.0 | -99.8% |
| Shares Outstanding (Mil) | 0 | 0 | -98.1% |
| Cumulative Contribution | -100.0% |
Market Drivers
5/31/2023 to 6/19/2026| Return | Correlation | |
|---|---|---|
| CMCT | -100.0% | |
| Market (SPY) | 85.7% | 7.3% |
| Sector (XLRE) | 34.9% | 4.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CMCT Return | -47% | -30% | -18% | -93% | -93% | -99% | -100% |
| Peers Return | 20% | -43% | 11% | -3% | -24% | 6% | -41% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| CMCT Win Rate | 33% | 42% | 33% | 17% | 25% | 0% | |
| Peers Win Rate | 58% | 37% | 47% | 45% | 43% | 47% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| CMCT Max Drawdown | -58% | -37% | -38% | -97% | -95% | -99% | |
| Peers Max Drawdown | -16% | -52% | -48% | -33% | -45% | -33% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HPP, KRC, ARE, BXP, VNO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)
How Low Can It Go
| Event | CMCT | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -12.8% | -24.5% |
| % Gain to Breakeven | 14.6% | 32.4% |
| Time to Breakeven | 18 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -57.1% | -33.7% |
| % Gain to Breakeven | 133.0% | 50.9% |
| Time to Breakeven | 310 days | 140 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -22.9% | -6.8% |
| % Gain to Breakeven | 29.8% | 7.3% |
| Time to Breakeven | 75 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -12.1% | -17.9% |
| % Gain to Breakeven | 13.8% | 21.8% |
| Time to Breakeven | 162 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -55.3% | -53.4% |
| % Gain to Breakeven | 123.7% | 114.4% |
| Time to Breakeven | 519 days | 1085 days |
In The Past
Creative Media & Community Trust's stock fell -12.8% during the 2022 Inflation Shock & Fed Tightening. Such a loss loss requires a 14.6% gain to breakeven.
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| Event | CMCT | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -57.1% | -33.7% |
| % Gain to Breakeven | 133.0% | 50.9% |
| Time to Breakeven | 310 days | 140 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -22.9% | -6.8% |
| % Gain to Breakeven | 29.8% | 7.3% |
| Time to Breakeven | 75 days | 15 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -55.3% | -53.4% |
| % Gain to Breakeven | 123.7% | 114.4% |
| Time to Breakeven | 519 days | 1085 days |
In The Past
Creative Media & Community Trust's stock fell -12.8% during the 2022 Inflation Shock & Fed Tightening. Such a loss loss requires a 14.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Creative Media & Community Trust (CMCT)
Creative Media & Community Trust Corporation (CMCT) is a real estate investment trust (REIT) primarily engaged in the acquisition, ownership, and operation of office properties. The company also actively improves and develops these assets, focusing on creating value within its real estate portfolio. CMCT specializes in two distinct types of office spaces: high-quality Class A office buildings and more flexible, modern "creative office" environments.
The core service provided by CMCT is offering leasable office space to a diverse range of tenants. As a REIT, its business model involves generating revenue primarily from rental income from these properties. CMCT's operations are managed by affiliates of CIM Group, L.P., which brings comprehensive in-house expertise across all facets of real estate, including acquisitions, development, leasing, and property management, ensuring integrated and efficient asset management.
CMCT strategically targets properties located in vibrant and improving metropolitan communities across the United States. Its primary markets are concentrated in major urban centers, with a significant focus on the dynamic economies of Los Angeles and the San Francisco Bay Area. The company serves businesses and organizations seeking premium or innovative office solutions in these key regions.
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Here are a few brief analogies for Creative Media & Community Trust (CMCT):
- Like Boston Properties, but with a sharper focus on modern and creative office spaces in top California markets like Los Angeles and the San Francisco Bay Area.
- Think of them as the "Ritz-Carlton" for high-end, creative office spaces in cities like Los Angeles and San Francisco.
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- Office Property Leasing: The company acquires, owns, and operates Class A and creative office assets, making these spaces available for lease to tenants primarily in metropolitan communities.
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Creative Media & Community Trust (CMCT) primarily serves other companies that lease its Class A and creative office assets. These customers are businesses and organizations requiring office space in metropolitan communities, particularly in Los Angeles and the San Francisco Bay Area.
The specific names of its major customer companies are not provided in the given background information.
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- CIM Group, L.P.
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David Thompson, Chief Executive Officer
Mr. Thompson is the Chief Executive Officer of Creative Media & Community Trust (CMCT). In March 2022, he articulated the company's strategic focus on investing in and developing next-generation creative offices and residential properties. CMCT is operated by affiliates of CIM Group, L.P.
Brandon Hill, Chief Financial Officer and Treasurer
Mr. Hill has served as the Chief Financial Officer and Treasurer of CMCT since November 2025, succeeding Barry N. Berlin. Prior to his current role, he was the 1st Vice President – Fund Accounting & Reporting for CIM Group, L.P. from March 2022. From 2018 to 2022, he held the position of Vice President – Financial Reporting at CIM Group, L.P. CIM Group, L.P., which operates CMCT, is a vertically-integrated owner and operator of real assets.
Shaul Kuba, Chief Investment Officer
Mr. Kuba was appointed Chief Investment Officer of CMCT in March 2023. He is also a board member of CMCT and a co-founder of CIM Group, L.P., the entity that operates CMCT. He brings extensive experience in creative office, multifamily, and mixed-use investment and development. CIM Group is described as a vertically-integrated owner and operator of real assets.
Richard S. Ressler, Chairman of the Board
Mr. Ressler serves as the Chairman of the Board of Creative Media & Community Trust Corporation. He is also a co-founder of CIM Group, L.P., which operates CMCT.
Avraham Shemesh, Director
Mr. Shemesh is a Director of Creative Media & Community Trust Corporation. He is also a co-founder of CIM Group, L.P., the company that operates CMCT.
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Key Risks to Creative Media & Community Trust (CMCT)
- Financial Distress: Creative Media & Community Trust faces significant financial challenges, including substantial net losses, negative funds from operations (FFO), and high leverage with net debt exceeding $500 million. The company reported a net loss of $(17.7) million for the fourth quarter of 2025 and a net loss attributable to common stockholders of $(61.6) million for the full year 2025. This ongoing financial strain creates a heavy interest burden relative to its equity base and impacts its overall financial stability.
- Underperformance of the Office Portfolio and Commercial Real Estate Market Headwinds: The company's legacy office portfolio continues to be a significant drag on Net Operating Income (NOI). Office occupancy rates were low, at 73.6% in Q3 2025 and 74.8% as of December 31, 2025, in a broader commercial real estate market that remains weak. Decreased rental revenues and increased operating expenses, particularly in key markets like Los Angeles and San Francisco, contribute to this underperformance, with recovery dependent on broader market conditions and trends in remote work.
- Execution Risk of Strategic Portfolio Transformation: CMCT is undergoing a strategic shift, transitioning its focus to premier multifamily properties and divesting its lending business. While the sale of its lending division has been completed, the success of this overall transformation carries significant execution risk. This includes the ability to successfully identify, acquire, or develop multifamily properties on acceptable terms, secure necessary financing, and effectively manage the remaining office portfolio to prevent further liquidity cushion shrinkage if it continues to struggle.
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Reduced demand for traditional office space due to the widespread adoption of remote and hybrid work models.
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Share Repurchases
- On May 24, 2022, Creative Media & Community Trust's Board of Directors authorized a repurchase program of up to $10 million of the company's common stock.
- As of December 31, 2025, CMCT had repurchased 2,650 shares of common stock for $4.7 million, adjusted for reverse stock splits.
Share Issuance
- Since September 2024, CMCT has redeemed approximately $153.3 million of preferred stock into common stock.
- During the fourth quarter of 2025, these redemptions resulted in the collective issuance of 1,910,435 shares of common stock.
- The company executed a 1-for-25 reverse stock split in April 2025.
- Effective January 6, 2025, the Board of Directors approved a 1-for-10 reverse stock split.
Outbound Investments
- On February 22, 2022, CMCT and a co-investor acquired a 99,000-square-foot building in the Echo Park neighborhood of Los Angeles for $51 million, advancing its creative office focus.
- In February 2023, CMCT expanded its multifamily portfolio with the planned addition of 696 apartment units across three assets, including the acquisition of Channel House (333 units) and plans to acquire Parkview Apartments (75 units) and Eleven Fifty Clay (288 units).
- CMCT completed the sale of its lending division in January 2026 for approximately $44 million, yielding net cash proceeds of about $31 million, aligning with its strategy to focus on its multifamily portfolio.
Capital Expenditures
- Cash from investing for the trailing twelve months ending Q3 2025 was a net outflow of $(31.13) million, attributed to capital expenditures for hotel renovations and the acquisition/development of multifamily assets.
- CMCT completed the development of a 36-unit multifamily building in Los Angeles during the fourth quarter of 2025.
- The company substantially completed an $11 million renovation of the public space at the Sheraton Grand Sacramento in the first quarter of 2026, following the renovation of all 505 guestrooms in the prior year.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Creative Media & Community Trust Earnings Notes | 12/16/2025 | |
| With Creative Media & Community Trust Stock Sliding, Have You Assessed The Risk? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 37.31 |
| Mkt Cap | 5.8 |
| Rev LTM | 1,460 |
| Op Inc LTM | 270 |
| FCF LTM | 653 |
| FCF 3Y Avg | 469 |
| CFO LTM | 886 |
| CFO 3Y Avg | 680 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -1.4% |
| Rev Chg 3Y Avg | 1.4% |
| Rev Chg Q | -4.5% |
| QoQ Delta Rev Chg LTM | -1.1% |
| Op Inc Chg LTM | -11.7% |
| Op Inc Chg 3Y Avg | -4.6% |
| Op Mgn LTM | 15.4% |
| Op Mgn 3Y Avg | 18.5% |
| QoQ Delta Op Mgn LTM | -1.3% |
| CFO/Rev LTM | 41.6% |
| CFO/Rev 3Y Avg | 40.2% |
| FCF/Rev LTM | 24.0% |
| FCF/Rev 3Y Avg | 26.2% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Office | 50 | 54 | 55 | 56 | 53 |
| Hotel | 41 | 39 | 41 | 35 | 18 |
| Multifamily | 16 | 20 | 11 | ||
| Lending | 9 | 11 | 11 | 11 | 20 |
| Interest and other income | 0 | 1 | 0 | 0 | |
| Total | 117 | 125 | 119 | 102 | 91 |
| $ Mil | 2025 | 2001 | 1999 | 1998 |
|---|---|---|---|---|
| Office | 24 | |||
| Hotel | 12 | |||
| Lending | 4 | |||
| Multifamily | -1 | |||
| Lending Division | 4 | 8 | 11 | |
| Property Division | 3 | 2 | 1 | |
| Total | 39 | 7 | 10 | 12 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Office | 402 | 421 | 419 | 472 | 450 |
| Multifamily | 271 | 279 | 278 | 0 | |
| Hotel | 115 | 109 | 96 | 99 | 101 |
| Lending | 68 | 71 | 76 | 76 | 97 |
| Non-segment assets | 4 | 9 | 21 | 43 | 13 |
| Total | 859 | 890 | 891 | 690 | 661 |
Price Behavior
| Market Price | $3.98 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 08/18/1995 | |
| Distance from 52W High | -99.7% | |
| 50 Days | 200 Days | |
| DMA Price | $5.18 | $317.86 |
| DMA Trend | down | down |
| Distance from DMA | -23.2% | -98.7% |
| 3M | 1YR | |
| Volatility | 243.9% | 238.1% |
| Downside Capture | 158.04 | 481.97 |
| Upside Capture | -296.33 | -266.75 |
| Correlation (SPY) | -2.5% | 4.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -1.47 | 0.05 | 0.83 | 1.46 | 1.13 | 0.83 |
| Up Beta | -1.21 | -1.17 | 0.06 | 0.38 | -2.29 | 0.64 |
| Down Beta | -8.29 | -11.33 | -1.45 | 0.40 | 4.17 | 1.45 |
| Up Capture | -89% | -23% | -280% | -155% | -67% | -7% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 11 | 19 | 23 | 39 | 95 | 294 |
| Down Capture | 197% | 491% | 534% | 340% | 214% | 114% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 9 | 22 | 39 | 82 | 151 | 427 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CMCT | |
|---|---|---|---|---|
| CMCT | -99.5% | 237.2% | -1.07 | - |
| Sector ETF (XLRE) | 8.7% | 14.1% | 0.36 | 0.6% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 5.1% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 3.7% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | -2.4% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | -0.5% |
| Bitcoin (BTCUSD) | -40.0% | 42.5% | -1.08 | 6.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CMCT | |
|---|---|---|---|---|
| CMCT | -88.2% | 128.6% | -1.02 | - |
| Sector ETF (XLRE) | 2.6% | 19.1% | 0.04 | 6.4% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 8.1% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 1.8% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 2.0% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 6.6% |
| Bitcoin (BTCUSD) | 11.0% | 54.2% | 0.40 | 5.6% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CMCT | |
|---|---|---|---|---|
| CMCT | -66.5% | 97.8% | -0.64 | - |
| Sector ETF (XLRE) | 6.7% | 20.4% | 0.28 | 11.4% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 12.0% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 2.1% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 4.7% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 12.6% |
| Bitcoin (BTCUSD) | 60.0% | 66.8% | 1.00 | 6.0% |
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Returns Analyses
Earnings Returns History
Updated 6/17/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/8/2026 | 3.0% | -8.5% | -26.4% |
| 3/9/2026 | -13.5% | -72.3% | -97.2% |
| 11/14/2025 | 36.4% | 1.5% | -49.9% |
| 8/13/2025 | -12.5% | -18.3% | -15.1% |
| 5/9/2025 | 0.6% | -1.5% | 61.8% |
| 3/7/2025 | -2.6% | -59.6% | -64.2% |
| 11/8/2024 | -3.7% | -22.0% | -47.8% |
| 8/8/2024 | -1.1% | -1.9% | -12.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 6 | 4 |
| # Negative | 12 | 17 | 19 |
| Median Positive | 1.1% | 6.0% | 24.6% |
| Median Negative | -1.5% | -5.9% | -12.0% |
| Max Positive | 36.4% | 13.4% | 61.8% |
| Max Negative | -13.5% | -72.3% | -97.2% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/8/2026 | 3.0% | -8.5% | -26.4% |
| 3/9/2026 | -13.5% | -72.3% | -97.2% |
| 11/14/2025 | 36.4% | 1.5% | -49.9% |
| 8/13/2025 | -12.5% | -18.3% | -15.1% |
| 5/9/2025 | 0.6% | -1.5% | 61.8% |
| 3/7/2025 | -2.6% | -59.6% | -64.2% |
| 11/8/2024 | -3.7% | -22.0% | -47.8% |
| 8/8/2024 | -1.1% | -1.9% | -12.0% |
| 5/15/2024 | 0.3% | 1.7% | -6.7% |
| 3/29/2024 | -1.9% | -5.9% | -19.7% |
| 11/14/2023 | -2.0% | -3.2% | -9.8% |
| 8/10/2023 | -0.2% | -5.8% | -2.3% |
| 5/2/2023 | 1.1% | -6.3% | 17.6% |
| 11/14/2022 | -0.3% | -2.5% | -20.0% |
| 8/9/2022 | 0.1% | -1.1% | -0.1% |
| 5/10/2022 | 1.3% | 12.5% | 19.5% |
| 3/16/2022 | -0.7% | -0.1% | -5.5% |
| 11/9/2021 | -0.4% | -8.6% | -10.6% |
| 8/11/2021 | -0.4% | -6.3% | -12.1% |
| 5/10/2021 | 1.2% | 8.5% | -1.3% |
| 3/16/2021 | 0.6% | -4.0% | -5.6% |
| 11/9/2020 | 9.7% | 13.4% | 29.7% |
| 8/10/2020 | 0.2% | 3.5% | -2.0% |
| SUMMARY STATS | |||
| # Positive | 11 | 6 | 4 |
| # Negative | 12 | 17 | 19 |
| Median Positive | 1.1% | 6.0% | 24.6% |
| Median Negative | -1.5% | -5.9% | -12.0% |
| Max Positive | 36.4% | 13.4% | 61.8% |
| Max Negative | -13.5% | -72.3% | -97.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 03/10/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 03/07/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 03/29/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 03/31/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 03/10/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 03/07/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 03/29/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 03/31/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/16/2022 | 10-K |
| 09/30/2021 | 11/09/2021 | 10-Q |
| 06/30/2021 | 08/09/2021 | 10-Q |
| 03/31/2021 | 05/10/2021 | 10-Q |
| 12/31/2020 | 03/16/2021 | 10-K |
| 09/30/2020 | 11/09/2020 | 10-Q |
| 06/30/2020 | 08/10/2020 | 10-Q |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 03/16/2020 | 10-K |
| 09/30/2019 | 11/08/2019 | 10-Q |
| 06/30/2019 | 08/08/2019 | 10-Q |
Recent Forward Guidance
Updated 5/31/2026Latest: Q1 2026 Earnings Reported 5/8/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 FFO Improvement | 16.00 Mil | 0 | Affirmed | Guidance: 16.00 Mil for 2026 | |||
Industry Resources
| Real Estate Resources |
| The Real Deal |
| Commercial Observer |
| Inman |
| Office REITs Resources |
| Commercial Property Executive |
| BOMA International |
| Propmodo |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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