Creative Media & Community Trust Co. (NASDAQ:CMCT) Stock Price Passes Below 200 Day Moving Average of $3.19

Shares of Creative Media & Community Trust Co. (NASDAQ:CMCT) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.19 and traded as low as $2.11. Creative Media & Community Trust Co. shares last traded at $2.15, with a volume of 5,095 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CMCT shares. B. Riley started coverage on Creative Media & Community Trust Co. in a research note on Thursday, April 11th. They issued a “neutral” rating and a $4.00 price target for the company. StockNews.com assumed coverage on Creative Media & Community Trust Co. in a research note on Saturday. They issued a “sell” rating for the company.

Creative Media & Community Trust Co. Price Performance

The stock has a 50 day moving average price of $2.59 and a 200-day moving average price of $3.19. The stock has a market capitalization of $49.00 million, a price-to-earnings ratio of -0.65 and a beta of 0.58.

Creative Media & Community Trust Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were given a dividend of $0.085 per share. The ex-dividend date was Monday, July 8th. This represents a $0.34 dividend on an annualized basis and a yield of 15.81%. Creative Media & Community Trust Co.’s payout ratio is -10.24%.

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

Several institutional investors and hedge funds have recently modified their holdings of CMCT. Pale Fire Capital SE boosted 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 acquiring an additional 251,276 shares in the last quarter. Presima Securities ULC acquired a new stake in Creative Media & Community Trust Co. during the 4th quarter worth approximately $258,000. Victory Capital Management Inc. acquired a new stake in Creative Media & Community Trust Co. during the 4th quarter worth approximately $70,000. Finally, Arkadios Wealth Advisors acquired a new stake in Creative Media & Community Trust Co. during the 4th quarter worth approximately $39,000. 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.