Creative Media & Community Trust Co. (NASDAQ:CMCT) Sees Large Increase in Short Interest

Creative Media & Community Trust Co. (NASDAQ:CMCT) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 50,900 shares, an increase of 6.0% from the July 15th total of 48,000 shares. Based on an average daily volume of 14,800 shares, the days-to-cover ratio is presently 3.4 days. Approximately 0.5% of the shares of the stock are short sold.

Creative Media & Community Trust Co. Trading Down 1.3 %

CMCT opened at $2.22 on Tuesday. The firm has a market capitalization of $50.59 million, a PE ratio of -0.67 and a beta of 0.58. Creative Media & Community Trust Co. has a twelve month low of $2.04 and a twelve month high of $4.65. The firm’s 50-day moving average price is $2.42 and its 200 day moving average price is $3.08.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last posted its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.23). The company had revenue of $34.44 million for the quarter, compared to analysts’ expectations of $33.12 million. During the same quarter in the previous year, the firm earned ($0.17) EPS. As a group, analysts predict that Creative Media & Community Trust Co. will post -0.93 earnings per share for the current fiscal year.

Creative Media & Community Trust Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were given a dividend of $0.085 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.34 dividend on an annualized basis and a yield of 15.32%. Creative Media & Community Trust Co.’s payout ratio is presently -10.24%.

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

Institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. acquired a new position in Creative Media & Community Trust Co. during the fourth quarter worth about $70,000. Dimensional Fund Advisors LP boosted its holdings in Creative Media & Community Trust Co. by 13.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 65,190 shares of the real estate investment trust’s stock valued at $175,000 after purchasing an additional 7,863 shares during the last quarter. Presima Securities ULC acquired a new position in Creative Media & Community Trust Co. in the 4th quarter valued at about $258,000. Finally, Pale Fire Capital SE boosted its holdings in Creative Media & Community Trust Co. by 136.4% in the 4th quarter. Pale Fire Capital SE now owns 435,472 shares of the real estate investment trust’s stock valued at $1,607,000 after purchasing an additional 251,276 shares during the last quarter. 28.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Creative Media & Community Trust Co. in a research report on Monday. They issued a “sell” rating on the 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.