Barclays now sees two Fed cuts this year, says jumbo Fed cuts ’very unlikely’
In a stark reflection of the tumultuous market conditions, PMC Commercial Trust (CMCT) stock has tumbled to a 52-week low, reaching a price level of just $0.63. According to InvestingPro data, the stock’s RSI indicates oversold territory, while maintaining a significant dividend yield of 476%. The company’s current ratio of 2.85 suggests strong short-term liquidity despite market pressures. This significant downturn in the company’s stock price is part of a broader trend that has seen the CMCT stock endure a staggering 1-year change of -98.08%. Investors have watched with concern as the stock plummeted from previous valuations, marking a challenging period for the real estate investment trust. The sharp decline to this year’s low underscores the volatility and pressures faced by the sector, with CMCT shareholders bearing the brunt of the market’s relentless fluctuations. InvestingPro analysis reveals 10+ additional key insights about CMCT’s financial health and valuation, available in the comprehensive Pro Research Report.
In other recent news, Creative Media & Community Trust Corporation has finalized a lease extension with its largest tenant, Kaiser Foundation Health Plan, Inc., for 236,692 rentable square feet at 1 Kaiser Plaza in Oakland, California. This extension, effective December 30, 2024, will ensure continued occupancy through December 31, 2027, generating approximately $11.6 million in base rents for 2025, $12.0 million for 2026, and $9.3 million for 2027, despite a three-month rent abatement in 2027. Additionally, Creative Media has been actively managing its capital by issuing common stock in lieu of cash for preferred stock redemptions. The company recently executed a one-for-ten reverse stock split to consolidate its shares, effective January 6, 2025. Creative Media has issued numerous shares of common stock to satisfy redemptions of Series A and Series A1 Preferred Stock throughout late 2024 and early 2025. The company plans to continue this practice through the first quarter of 2025, utilizing the volume-weighted average price (VWAP) for these transactions. These developments are part of Creative Media’s strategic efforts to stabilize its revenue and manage capital efficiently.
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