CIM Commercial Trust (CMCT) Announces $10M Share Buyback

Creative Media & Community Trust Corporation (NASDAQ: CMCT) today announced that its Board of Directors authorized a repurchase program of up to $10 million of the Company’s common stock.

“CMCT’s financial performance continues to improve, and we have several highly attractive premier multifamily and creative office opportunities in the portfolio,” said David Thompson, CEO of CMCT. “We also believe there is an opportunity to create additional value for shareholders by opportunistically repurchasing shares that are trading at a significant discount to intrinsic value. Since going public in 2014, CMCT has been one of the most active U.S. listed REITs in returning capital to shareholders through share repurchases, a tender offer and special and regular dividends.”

Under the repurchase program, the Company, in its discretion, may purchase shares of its common stock from time to time in the open market or in privately negotiated transactions. The amount and timing of purchases of shares will depend on a number of factors, including the price and availability of shares, trading volume and general market conditions. The repurchase program has no termination date and may be suspended or discontinued at any time.

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