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

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

Creative Media & Community Trust Co. Stock Down 3.7 %

CMCT opened at $0.38 on Thursday. Creative Media & Community Trust Co. has a 52 week low of $0.36 and a 52 week high of $4.40. The business’s 50 day moving average is $1.00 and its two-hundred day moving average is $2.05. The firm has a market cap of $8.79 million, a price-to-earnings ratio of -0.13 and a beta of 0.56.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last announced its 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 for the quarter, compared to analyst estimates of $33.12 million. During the same quarter last year, the firm earned ($0.17) earnings per share. Equities analysts expect that Creative Media & Community Trust Co. will post -1.22 EPS for the current fiscal year.

Creative Media & Community Trust Co. Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 25th were issued a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, September 25th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 42.33%. Creative Media & Community Trust Co.’s payout ratio is -5.56%.

Hedge Funds 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 purchased a new stake in Creative Media & Community Trust Co. during the 3rd quarter valued at approximately $29,000. EWG Elevate Inc. acquired a new position in shares of Creative Media & Community Trust Co. in the third quarter valued at approximately $37,000. Stonebridge Financial Planning Group LLC purchased a new stake in shares of Creative Media & Community Trust Co. during the third quarter worth approximately $39,000. Calton & Associates Inc. acquired a new stake in shares of Creative Media & Community Trust Co. during the third quarter worth $47,000. Finally, Carnegie Investment Counsel purchased a new position in Creative Media & Community Trust Co. in the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 28.34% of the company’s stock.

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.