StockNews.com Begins Coverage on Creative Media & Community Trust Co. (NASDAQ:CMCT)

Analysts at StockNews.com assumed coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT) in a research note issued to investors on Tuesday. The firm set a “sell” rating on the real estate investment trust’s stock.

Creative Media & Community Trust Co. Trading Down 2.1 %

CMCT stock opened at $0.53 on Tuesday. The stock has a market cap of $12.06 million, a P/E ratio of -0.16 and a beta of 0.55. The stock’s fifty day simple moving average is $1.46 and its two-hundred day simple moving average is $2.35. Creative Media & Community Trust Co. has a 1-year low of $0.42 and a 1-year high of $4.40.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last issued 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 the consensus estimate of $33.12 million. During the same quarter in the prior year, the business earned ($0.17) earnings per share. As a group, analysts forecast that Creative Media & Community Trust Co. will post -1.22 earnings per share for the current fiscal year.

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

A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in Creative Media & Community Trust Co. by 13.7% in the second quarter. Dimensional Fund Advisors LP now owns 65,190 shares of the real estate investment trust’s stock worth $175,000 after buying an additional 7,863 shares during the last quarter. EWG Elevate Inc. bought a new position in shares of Creative Media & Community Trust Co. during the 3rd quarter worth $37,000. Calton & Associates Inc. bought a new position in shares of Creative Media & Community Trust Co. during the 3rd quarter worth $47,000. Carnegie Investment Counsel purchased a new stake in Creative Media & Community Trust Co. in the 3rd quarter worth about $50,000. Finally, Sequoia Financial Advisors LLC bought a new stake in Creative Media & Community Trust Co. in the 3rd quarter valued at about $65,000. 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.