Creative Media & Community Trust Co. (NASDAQ:CMCT) Releases Quarterly Earnings Results, Misses Estimates By $0.86 EPS

Creative Media & Community Trust Co. (NASDAQ:CMCT) announced its quarterly earnings data on Friday. The real estate investment trust reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.86), Zacks reports. The firm had revenue of $28.62 million during the quarter. During the same period in the previous year, the business earned ($0.30) earnings per share.

Creative Media & Community Trust Co. Price Performance

CMCT stock traded down $0.01 during trading on Monday, hitting $0.36. 309,814 shares of the company traded hands, compared to its average volume of 136,176. The stock’s 50-day simple moving average is $1.00 and its 200 day simple moving average is $2.04. The company has a market cap of $8.45 million, a PE ratio of -0.13 and a beta of 0.56. Creative Media & Community Trust Co. has a 1 year low of $0.36 and a 1 year high of $4.40.

Creative Media & Community Trust Co. Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 25th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 44.04%. The ex-dividend date was Wednesday, September 25th. Creative Media & Community Trust Co.’s payout ratio is -5.56%.

Analyst Upgrades and Downgrades

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

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.