StockNews.com Begins Coverage on Creative Media & Community Trust Co. (NASDAQ:CMCT)

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

Creative Media & Community Trust Co. Price Performance

NASDAQ CMCT opened at $1.90 on Wednesday. Creative Media & Community Trust Co. has a twelve month low of $1.88 and a twelve month high of $4.61. The company has a market cap of $43.30 million, a price-to-earnings ratio of -0.57 and a beta of 0.58. The business’s fifty day moving average is $2.21 and its 200 day moving average is $2.94.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last announced its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.23). The firm had revenue of $34.44 million during the quarter, compared to analysts’ expectations of $33.12 million. During the same quarter last year, the firm earned ($0.17) earnings per share. On average, research analysts anticipate that Creative Media & Community Trust Co. will post -0.93 earnings per share for the current fiscal year.

Creative Media & Community Trust Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were issued a $0.085 dividend. This represents a $0.34 annualized dividend and a yield of 17.89%. The ex-dividend date of this dividend was Monday, July 8th. Creative Media & Community Trust Co.’s payout ratio is presently -10.24%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CMCT. Dimensional Fund Advisors LP boosted its position in Creative Media & Community Trust Co. by 13.7% during the second quarter. Dimensional Fund Advisors LP now owns 65,190 shares of the real estate investment trust’s stock valued at $175,000 after acquiring an additional 7,863 shares during the last quarter. Pale Fire Capital SE grew its position in shares of Creative Media & Community Trust Co. by 136.4% during the 4th quarter. Pale Fire Capital SE now owns 435,472 shares of the real estate investment trust’s stock worth $1,607,000 after buying an additional 251,276 shares during the period. Presima Securities ULC acquired a new position in shares of Creative Media & Community Trust Co. during the fourth quarter valued at about $258,000. Finally, Victory Capital Management Inc. bought a new position in Creative Media & Community Trust Co. in the fourth quarter worth approximately $70,000. 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.