Creative Media & Community Trust Co. (NASDAQ:CMCT) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT) in a research note released on Friday morning. The brokerage issued a sell rating on the real estate investment trust’s stock.

Creative Media & Community Trust Co. Price Performance

NASDAQ CMCT opened at $0.96 on Friday. The company has a 50-day moving average price of $2.31 and a two-hundred day moving average price of $11.69. Creative Media & Community Trust Co. has a 52 week low of $0.91 and a 52 week high of $44.02. The stock has a market cap of $8.32 million, a price-to-earnings ratio of -0.33 and a beta of 0.46. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 438.44.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last posted its quarterly earnings data on Friday, November 8th. The real estate investment trust reported ($12.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.60) by ($8.60). The firm had revenue of $28.62 million for the quarter. During the same period in the previous year, the firm earned ($3.00) earnings per share. Analysts forecast that Creative Media & Community Trust Co. will post -1.22 EPS for the current year.

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

Several institutional investors and hedge funds have recently bought and sold shares of CMCT. Cerity Partners LLC bought a new stake in Creative Media & Community Trust Co. during the third quarter valued at about $1,397,000. Arkadios Wealth Advisors bought a new position in Creative Media & Community Trust Co. in the 3rd quarter worth approximately $548,000. PFG Investments LLC acquired a new position in shares of Creative Media & Community Trust Co. during the third quarter worth approximately $266,000. Sequoia Financial Advisors LLC bought a new stake in shares of Creative Media & Community Trust Co. in the third quarter valued at approximately $65,000. Finally, International Assets Investment Management LLC grew its stake in shares of Creative Media & Community Trust Co. by 186.6% in the fourth quarter. International Assets Investment Management LLC now owns 168,072 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 109,425 shares during the last quarter. Hedge funds and other institutional investors own 28.34% of the company’s stock.

About Creative Media & Community Trust Co.

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.