Creative Media & Community Trust Co. (NASDAQ:CMCT) Research Coverage Started at StockNews.com

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

Creative Media & Community Trust Co. Stock Up 5.8 %

Shares of NASDAQ:CMCT opened at $0.52 on Friday. The firm has a 50 day moving average of $1.93 and a 200 day moving average of $2.71. The company has a market capitalization of $11.85 million, a price-to-earnings ratio of -0.16 and a beta of 0.58. Creative Media & Community Trust Co. has a 52 week low of $0.42 and a 52 week high of $4.40.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last issued its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported ($0.43) earnings per share (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 analyst estimates of $33.12 million. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. On average, sell-side analysts expect that Creative Media & Community Trust Co. will post -1.24 EPS for the current year.

Creative Media & Community Trust Co. Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 25th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 30.78%. The ex-dividend date is Wednesday, September 25th. Creative Media & Community Trust Co.’s payout ratio is presently -4.82%.

Institutional Investors Weigh In On Creative Media & Community Trust Co.

A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in Creative Media & Community Trust Co. by 13.7% in 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 purchasing an additional 7,863 shares during the last quarter. Presima Securities ULC purchased a new stake in Creative Media & Community Trust Co. in the fourth quarter valued at $258,000. Finally, Pale Fire Capital SE boosted 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 purchasing an additional 251,276 shares during the last quarter. 28.34% of the stock is owned by hedge funds and other institutional investors.

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.