LOS ANGELES (AP) — LOS ANGELES (AP) — Creative Media & Community Trust Corporation (CMCT) on Friday reported a loss in a key measure in its first quarter.
The Los Angeles-based real estate investment trust said it had a funds from operations loss of $5.9 million, or $11.89 per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $34.7 million, or $70.52 per share.
The real estate investment trust, based in Los Angeles, posted revenue of $29.4 million in the period.
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