Creative Media & Community Trust Co. (NASDAQ:CMCT) Declares $0.09 Quarterly Dividend

Creative Media & Community Trust Co. (NASDAQ:CMCTGet Free Report) announced a quarterly dividend on Wednesday, March 27th, investing.com reports. Investors of record on Monday, April 8th will be given a dividend of 0.085 per share by the real estate investment trust on Monday, April 22nd. This represents a $0.34 annualized dividend and a yield of 8.10%. The ex-dividend date is Friday, April 5th.

Creative Media & Community Trust Co. has raised its dividend by an average of 4.3% per year over the last three years. Creative Media & Community Trust Co. has a payout ratio of 9.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Creative Media & Community Trust Co. to earn $0.34 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 100.0%.

Creative Media & Community Trust Co. Stock Up 0.5 %

CMCT stock opened at $4.20 on Wednesday. The company has a market capitalization of $95.72 million, a P/E ratio of -1.26 and a beta of 0.51. The company has a 50-day simple moving average of $3.63 and a 200 day simple moving average of $3.79. Creative Media & Community Trust Co. has a fifty-two week low of $3.19 and a fifty-two week high of $5.80.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its holdings in Creative Media & Community Trust Co. by 84.6% in the 2nd quarter. Renaissance Technologies LLC now owns 55,000 shares of the real estate investment trust’s stock valued at $274,000 after acquiring an additional 25,200 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in Creative Media & Community Trust Co. in the 4th quarter valued at about $157,000. Jane Street Group LLC acquired a new stake in Creative Media & Community Trust Co. in the 1st quarter valued at about $99,000. State Street Corp lifted its holdings in Creative Media & Community Trust Co. by 4.3% in the 1st quarter. State Street Corp now owns 61,364 shares of the real estate investment trust’s stock valued at $480,000 after acquiring an additional 2,533 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new stake in Creative Media & Community Trust Co. in the 1st quarter valued at about $78,000. 28.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Creative Media & Community Trust Co. in a report on Thursday, March 28th. They issued a “sell” rating for the company.

View Our Latest Report on Creative Media & Community Trust Co.

About Creative Media & Community Trust Co.

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Creative Media & Community Trust Corporation (formerly known as CIM Commercial 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.

Further Reading

Dividend History for Creative Media & Community Trust Co. (NASDAQ:CMCT)

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