Creative Media & Community Trust Co. (NASDAQ:CMCT) Now Covered by StockNews.com

StockNews.com began coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT) in a research note issued to investors on Monday. The brokerage issued a sell rating on the real estate investment trust’s stock.

Creative Media & Community Trust Co. Stock Down 2.4 %

Shares of Creative Media & Community Trust Co. stock opened at $2.00 on Monday. The firm has a market cap of $45.57 million, a PE ratio of -0.60 and a beta of 0.58. Creative Media & Community Trust Co. has a 52 week low of $2.00 and a 52 week high of $4.65. The business’s fifty day simple moving average is $2.39 and its 200-day simple moving average is $3.06.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last issued its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate 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 prior year, the business posted ($0.17) EPS. As a group, equities analysts expect that Creative Media & Community Trust Co. will post -0.93 earnings per share for the current year.

Creative Media & Community Trust Co. Dividend Announcement

The business also recently disclosed 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 dividend yield of 17.00%. Creative Media & Community Trust Co.’s payout ratio is currently -10.24%.

Institutional Trading of Creative Media & Community Trust Co.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. purchased a new position in shares of Creative Media & Community Trust Co. during the fourth quarter worth $70,000. Dimensional Fund Advisors LP boosted its holdings in Creative Media & Community Trust Co. by 13.7% during 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 acquiring an additional 7,863 shares during the period. 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 increased its stake in Creative Media & Community Trust Co. by 136.4% during 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. Hedge funds and other 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.