Creative Media & Community Trust Co. (NASDAQ:CMCT) Earns Sell Rating from Analysts at StockNews.com

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

Creative Media & Community Trust Co. Trading Down 19.1 %

Shares of NASDAQ CMCT opened at $0.36 on Wednesday. The firm has a fifty day simple moving average of $1.16 and a two-hundred day simple moving average of $2.15. Creative Media & Community Trust Co. has a 12 month low of $0.36 and a 12 month high of $4.40. The firm has a market capitalization of $8.39 million, a PE ratio of -0.14 and a beta of 0.56.

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

Creative Media & Community Trust Co. Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors 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 annualized dividend and a dividend yield of 44.32%. Creative Media & Community Trust Co.’s dividend payout ratio is presently -6.05%.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in Creative Media & Community Trust Co. during the third quarter valued at $29,000. EWG Elevate Inc. bought a new position in shares of Creative Media & Community Trust Co. in the 3rd quarter worth about $37,000. Calton & Associates Inc. bought a new position in shares of Creative Media & Community Trust Co. in the 3rd quarter worth about $47,000. Carnegie Investment Counsel purchased a new position in Creative Media & Community Trust Co. during the 3rd quarter valued at about $50,000. Finally, Sequoia Financial Advisors LLC bought a new stake in Creative Media & Community Trust Co. during the third quarter worth about $65,000. 28.34% of the stock is owned by hedge funds and other institutional investors.

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.