StockNews.com initiated coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT – Free Report) in a report released on Tuesday morning. The firm issued a sell rating on the real estate investment trust’s stock.
Separately, B. Riley began coverage on Creative Media & Community Trust Co. in a research report on Thursday, April 11th. They issued a neutral rating and a $4.00 price target for the company.
Read Our Latest Stock Analysis on CMCT
Creative Media & Community Trust Co. Stock Down 1.6 %
Creative Media & Community Trust Co. Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were given a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 11.15%. The ex-dividend date of this dividend was Friday, April 5th. Creative Media & Community Trust Co.’s payout ratio is currently -10.18%.
Institutional Investors Weigh In On Creative Media & Community Trust Co.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Arkadios Wealth Advisors purchased a new position in Creative Media & Community Trust Co. in the fourth quarter worth $39,000. Victory Capital Management Inc. acquired a new stake in shares of Creative Media & Community Trust Co. in the 4th quarter worth $70,000. Presima Securities ULC acquired a new stake in shares of Creative Media & Community Trust Co. in the 4th quarter worth $258,000. Yelin Lapidot Holdings Management Ltd. purchased a new position in Creative Media & Community Trust Co. during the 3rd quarter worth $1,273,000. Finally, First Foundation Advisors increased its position in Creative Media & Community Trust Co. by 3.1% during the 3rd quarter. First Foundation Advisors now owns 390,127 shares of the real estate investment trust’s stock valued at $1,580,000 after buying an additional 11,612 shares in the last quarter. Hedge funds and other institutional investors own 28.34% of the company’s stock.
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.
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