StockNews.com started coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT – Free Report) in a research note published on Wednesday. The firm issued a sell rating on the real estate investment trust’s stock.
Separately, B. Riley started coverage on shares of Creative Media & Community Trust Co. in a research report on Thursday, April 11th. They issued a neutral rating and a $4.00 price objective for the company.
View Our Latest Stock Analysis on Creative Media & Community Trust Co.
Creative Media & Community Trust Co. Stock Down 1.6 %
Creative Media & Community Trust Co. Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 8th will be issued a $0.085 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.34 dividend on an annualized basis and a yield of 14.23%. Creative Media & Community Trust Co.’s dividend payout ratio (DPR) is presently -10.24%.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Pale Fire Capital SE increased its holdings in Creative Media & Community Trust Co. by 136.4% in the fourth quarter. Pale Fire Capital SE now owns 435,472 shares of the real estate investment trust’s stock valued at $1,607,000 after buying an additional 251,276 shares in the last quarter. Presima Securities ULC purchased a new position in shares of Creative Media & Community Trust Co. during the 4th quarter worth approximately $258,000. Victory Capital Management Inc. purchased a new position in shares of Creative Media & Community Trust Co. during the 4th quarter worth approximately $70,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of Creative Media & Community Trust Co. during the 4th quarter worth approximately $39,000. 28.34% of the stock is owned by hedge funds and other institutional investors.
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.
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