Creative Media & Community Trust Co. (NASDAQ:CMCT) Declares $0.04 Quarterly Dividend

Creative Media & Community Trust Co. (NASDAQ:CMCT) announced a quarterly dividend on Thursday, September 19th, Wall Street Journal reports. Investors of record on Wednesday, September 25th will be given a dividend of 0.04 per share by the real estate investment trust on Tuesday, October 8th. This represents a $0.16 dividend on an annualized basis and a yield of 8.38%. The ex-dividend date is Wednesday, September 25th.

Creative Media & Community Trust Co. has a payout ratio of 9.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Creative Media & Community Trust Co. to earn ($0.54) per share next year, which means the company may not be able to cover its $0.34 annual dividend with an expected future payout ratio of -63.0%.

Creative Media & Community Trust Co. Trading Up 0.5 %

CMCT opened at $1.91 on Friday. The company has a fifty day simple moving average of $2.09 and a 200 day simple moving average of $2.84. The firm has a market cap of $43.52 million, a price-to-earnings ratio of -0.58 and a beta of 0.58. Creative Media & Community Trust Co. has a twelve month low of $1.88 and a twelve month high of $4.61.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last released 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 analyst estimates of $33.12 million. During the same period last year, the firm posted ($0.17) earnings per share. On average, analysts forecast that Creative Media & Community Trust Co. will post -0.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Creative Media & Community Trust Co. in a report on Friday. They set a “sell” rating for the company.

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.