Creative Media & Community Trust Co. (NASDAQ:CMCT) Now Covered 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 Saturday morning. The brokerage issued a sell rating on the real estate investment trust’s stock.

Creative Media & Community Trust Co. Stock Performance

Shares of NASDAQ:CMCT opened at $0.63 on Friday. The stock has a 50-day simple moving average of $1.97 and a 200-day simple moving average of $2.75. The stock has a market capitalization of $14.35 million, a P/E ratio of -0.19 and a beta of 0.58. Creative Media & Community Trust Co. has a 1 year low of $0.62 and a 1 year high of $4.40.

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) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.23). The business had revenue of $34.44 million during the quarter, compared to the consensus estimate of $33.12 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. Analysts predict that Creative Media & Community Trust Co. will post -1.24 earnings per share for the current year.

Creative Media & Community Trust Co. Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 25th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 25.42%. The ex-dividend date is Wednesday, September 25th. Creative Media & Community Trust Co.’s payout ratio is -10.24%.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its position in shares of 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 worth $175,000 after acquiring an additional 7,863 shares in the last quarter. Presima Securities ULC bought a new position in Creative Media & Community Trust Co. during the fourth quarter worth $258,000. Finally, Pale Fire Capital SE boosted its holdings in Creative Media & Community Trust Co. by 136.4% in the fourth quarter. Pale Fire Capital SE now owns 435,472 shares of the real estate investment trust’s stock worth $1,607,000 after purchasing an additional 251,276 shares during the period. 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.