Creative Media & Community Trust Co. (NASDAQ:CMCT) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

Creative Media & Community Trust Co. (NASDAQ:CMCT)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.06 and traded as low as $1.00. Creative Media & Community Trust Co. shares last traded at $1.08, with a volume of 1,027,441 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Creative Media & Community Trust Co. in a research note on Friday. They issued a “sell” rating for the company.

Creative Media & Community Trust Co. Price Performance

The stock has a market capitalization of $8.32 million, a price-to-earnings ratio of -0.33 and a beta of 0.46. The company has a 50 day moving average of $2.31 and a 200 day moving average of $11.88. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 438.44.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last announced its quarterly earnings results on Friday, November 8th. The real estate investment trust reported ($12.20) EPS for the quarter, missing the consensus estimate of ($3.60) by ($8.60). The business had revenue of $28.62 million during the quarter. During the same quarter last year, the firm earned ($3.00) earnings per share. As a group, equities research analysts forecast that Creative Media & Community Trust Co. will post -1.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Creative Media & Community Trust Co.

A number of large investors have recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in shares of Creative Media & Community Trust Co. by 186.6% in the 4th quarter. International Assets Investment Management LLC now owns 168,072 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 109,425 shares during the period. Cerity Partners LLC purchased a new stake in shares of Creative Media & Community Trust Co. during the 3rd quarter valued at about $1,397,000. Stonebridge Financial Planning Group LLC purchased a new stake in shares of Creative Media & Community Trust Co. during the 3rd quarter valued at about $39,000. PFG Investments LLC purchased a new stake in shares of Creative Media & Community Trust Co. during the 3rd quarter valued at about $266,000. Finally, Arkadios Wealth Advisors purchased a new stake in shares of Creative Media & Community Trust Co. during the 3rd quarter valued at about $548,000. 28.34% of the stock is currently owned by hedge funds and other institutional investors.

Creative Media & Community Trust Co. Company Profile

Creative Media & Community Trust Corporation (the Company), is a Maryland corporation and real estate investment trust (REIT). The Company primarily acquires, develops, owns and operates both premier multifamily properties situated in vibrant communities throughout the United States and Class A and creative office real assets in markets with similar business and employment characteristics to its multifamily investments.