Cerity Partners LLC Invests $1.40 Million in Creative Media & Community Trust Co. (NASDAQ:CMCT)

Cerity Partners LLC acquired a new stake in Creative Media & Community Trust Co. (NASDAQ:CMCT) in the third quarter, HoldingsChannel.com reports. The fund acquired 2,841,736 shares of the real estate investment trust’s stock, valued at approximately $1,397,000. Cerity Partners LLC owned 0.12% of Creative Media & Community Trust Co. at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Creative Media & Community Trust Co. in a research note on Sunday. They issued a “sell” rating for the company.

Creative Media & Community Trust Co. Stock Up 2.5 %

CMCT opened at $0.30 on Wednesday. The company has a debt-to-equity ratio of 438.44, a quick ratio of 2.71 and a current ratio of 2.71. The company has a market cap of $25.76 million, a PE ratio of -0.10 and a beta of 0.45. The firm has a 50 day moving average price of $0.44 and a 200 day moving average price of $1.70. Creative Media & Community Trust Co. has a 1 year low of $0.21 and a 1 year high of $4.40.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last released its quarterly earnings results on Friday, November 8th. The real estate investment trust reported ($1.22) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.86). The company had revenue of $28.62 million during the quarter. During the same quarter last year, the firm posted ($0.30) EPS. Sell-side analysts expect 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 disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 25th were issued a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, September 25th. This represents a $0.16 dividend on an annualized basis and a yield of 53.84%. Creative Media & Community Trust Co.’s dividend payout ratio is currently -5.56%.

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.