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

StockNews.com started coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT) in a research report released on Thursday morning. The brokerage issued a sell rating on the real estate investment trust’s stock.

Creative Media & Community Trust Co. Price Performance

NASDAQ:CMCT traded down $0.01 during trading hours on Thursday, reaching $0.38. 313,381 shares of the company were exchanged, compared to its average volume of 134,753. Creative Media & Community Trust Co. has a 52-week low of $0.36 and a 52-week high of $4.40. The firm has a market cap of $8.93 million, a price-to-earnings ratio of -0.15 and a beta of 0.56. The stock has a 50 day simple moving average of $1.03 and a 200 day simple moving average of $2.08.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last announced its earnings results on Thursday, August 8th. The real estate investment trust reported ($0.43) earnings per share 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 analysts’ expectations of $33.12 million. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. On average, analysts predict that Creative Media & Community Trust Co. will post -1.22 EPS for the current fiscal year.

Creative Media & Community Trust Co. Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 25th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 41.66%. The ex-dividend date was Wednesday, September 25th. Creative Media & Community Trust Co.’s dividend payout ratio (DPR) is currently -6.05%.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new position in Creative Media & Community Trust Co. in the 3rd quarter valued at about $29,000. Dimensional Fund Advisors LP grew its position in shares of 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 worth $175,000 after buying an additional 7,863 shares during the period. EWG Elevate Inc. bought a new position in Creative Media & Community Trust Co. in the third quarter worth approximately $37,000. Calton & Associates Inc. bought a new stake in Creative Media & Community Trust Co. during the 3rd quarter valued at $47,000. Finally, Carnegie Investment Counsel bought a new stake in Creative Media & Community Trust Co. during the 3rd quarter worth approximately $50,000. 28.34% of the stock is currently owned by institutional investors and hedge funds.

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.