10-Q · May 8, 2026
Creative Media & Community Trust Corporation reported a decrease in total revenue to $29.4 million for Q1 2026 compared to $32.3 million in Q1 2025, reflecting an 8.9% decline year-over-year. Gross and operating margins…
Earnings analysis · 10-Q
CMCT earnings analysis
Filed August 14, 2026 · Our reading of the company's report
The latest report
CMCT generated $29.683 million of Q2 revenue, approximately 5.7% above Q1 2026 and 10.0% above Q2 2025, but diluted EPS was a $4.03 loss and materially missed the $0.51 loss estimate. Hotel and multifamily operations…
Read full summary
CMCT generated $29.683 million of Q2 revenue, approximately 5.7% above Q1 2026 and 10.0% above Q2 2025, but diluted EPS was a $4.03 loss and materially missed the $0.51 loss estimate. Hotel and multifamily operations improved, while total segment NOI declined 5.2% to $9.3 million and office/Oakland conditions remained a headwind. The $97.1 million Oakland mortgage maturity and ongoing refinancing exposure are the principal risks; the 10-Q provided no quantitative guidance and reported no material changes to prior risk factors.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-4.03
- Segment
- Hotel and multifamily operating trends improved; total segment NOI declined 5.2% to $9.3 million.
- Segment
- Office performance remained pressured, with Oakland demand and occupancy identified as headwinds.
What stood out
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Revenue grew sequentially and year over year
Revenue was $29.683 million, up from approximately $28 million in Q1 2026 and $27 million in Q2 2025, representing sequential growth of about 5.7% and year-over-year growth of about 10.0%.
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Hotel and multifamily trends improved
Hotel and multifamily operating trends improved, although total segment NOI decreased 5.2% to $9.3 million.
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Disclosure controls remained effective
Disclosure controls and procedures were concluded effective as of June 30, 2026, and management reported no changes in internal control over financial reporting that materially affected or were reasonably likely to materially affect controls.
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Most debt remained fixed rate
The company had $438.9 million, or 87.4%, of debt in fixed-rate borrowings at June 30, 2026, limiting near-term exposure to changes in short-term rates.
What to watch
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Material EPS miss
Diluted EPS was a loss of $4.03 versus the consensus estimate of a loss of $0.51, a shortfall of $3.52 per share. The result was materially weaker despite revenue of $29.683 million exceeding the $28.1 million estimate.
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Oakland mortgage refinancing risk
The $97.1 million Oakland mortgage maturity remains a significant refinancing and liquidity risk, particularly amid continued Oakland office occupancy and demand pressure.
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Floating-rate debt exposure
Floating-rate borrowings totaled $63.3 million, or 12.6% of debt, at June 30, 2026. Management estimates that a 50-basis-point SOFR change would affect annual earnings by approximately $317,000.
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No new risk-factor changes
Management stated that there were no material changes to the risk factors disclosed in the 2025 Form 10-K. Accordingly, no new risk-factor change was identified in this quarter’s filing.
Management's outlook
No numeric revenue or EPS guidance, and no change to prior outlook, was provided in the 10-Q. The filing does not disclose a quantitative forward outlook.
Earlier filings 4
10-K · April 29, 2026
CMCT's 2025 10-K reveals a strategic shift towards premier multifamily assets under the CIM Group while maintaining its office and hotel holdings. The company faces challenges with a reported Q4 revenue of $28,451,000…
10-K · March 10, 2026
The 2025 Form 10-K shows CMCT is repositioning toward premier multifamily assets under CIM Group’s platform while retaining office and hotel holdings; as of December 31, 2025 the portfolio consisted of 27 fee‑simple…
10-Q · August 14, 2025
Q2 2025 revenue declined to $29.689M (down $4.750M or 13.8% YoY vs Q2 2024 $34.439M and down $2.606M or 8.1% vs Q1 2025 $32.295M). The quarter produced a GAAP loss per common share of $(18.94) and a loss before taxes of…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.