CIM Real Estate Finance Trust Inc Com (CMRF) reports earnings

CIM Real Estate Finance Trust Inc Com (CMRF) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024. filing

The company reported a net loss attributable to the company of $292.3 million, or $0.67 per share, for the year. This compares to a net income of $28.1 million for the previous year.

The decrease in net income was primarily due to an increase in the provision for credit losses, which rose by $208.5 million, and a decrease in revenues from both the credit and real estate segments.

The credit segment's revenues decreased by $63.5 million, primarily due to the suspension of interest income on certain nonaccrual loans and a decrease in the overall size of the investment portfolio.

The real estate segment's revenues decreased by $21.5 million, largely due to the disposition of properties.

Operating expenses increased by $202.1 million, primarily driven by the increase in provision for credit losses and impairment charges on real estate assets.

The company made $77.1 million in first mortgage loan originations and funded $85.8 million in existing loans during the year.

CIM Real Estate Finance Trust Inc Com disposed of seven properties and 11 condominium units for total consideration of $128.0 million.

The company redeemed 7.3 million shares under its share redemption program for $45.0 million at an average price of $6.15 per share.

As of December 31, 2024, the company held credit investments with an outstanding principal balance of $4.4 billion and owned 187 commercial real estate properties with a net book value of $983.3 million.

This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the CIM Real Estate Finance Trust Inc Com annual 10-K report dated March 28, 2025. To report an error, please email [email protected].