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

StockNews.com assumed coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT) in a research report report published on Monday. The firm issued a sell rating on the real estate investment trust’s stock.

Creative Media & Community Trust Co. Stock Performance

Shares of CMCT opened at $0.53 on Monday. Creative Media & Community Trust Co. has a 52-week low of $0.42 and a 52-week high of $4.40. The business’s 50 day moving average price is $1.52 and its two-hundred day moving average price is $2.42. The firm has a market cap of $12.08 million, a PE ratio of -0.16 and a beta of 0.55.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last released its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.23). The firm had revenue of $34.44 million for the quarter, compared to the consensus estimate of $33.12 million. During the same period in the prior year, the company earned ($0.17) EPS. Research analysts predict that Creative Media & Community Trust Co. will post -1.22 EPS for the current fiscal year.

Creative Media & Community Trust Co. Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 25th were given a dividend of $0.04 per share. The ex-dividend date was Wednesday, September 25th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 30.19%. Creative Media & Community Trust Co.’s dividend payout ratio (DPR) is presently -4.82%.

Institutional Investors Weigh In On Creative Media & Community Trust Co.

A number of hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Creative Media & Community Trust Co. by 13.7% during the second quarter. Dimensional Fund Advisors LP now owns 65,190 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 7,863 shares during the period. EWG Elevate Inc. bought a new stake in Creative Media & Community Trust Co. during the 3rd quarter valued at $37,000. Finally, Carnegie Investment Counsel acquired a new position in Creative Media & Community Trust Co. during the third quarter worth $50,000. Institutional investors and hedge funds own 28.34% of the company’s stock.

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.