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

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

Creative Media & Community Trust Co. Stock Down 21.9 %

NASDAQ CMCT opened at $0.49 on Friday. The firm has a market cap of $11.20 million, a P/E ratio of -0.15 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. The business’s 50-day moving average price is $1.97 and its 200 day moving average price is $2.73.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last posted its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.23). The business had revenue of $34.44 million during the quarter, compared to the consensus estimate of $33.12 million. During the same period last year, the firm earned ($0.17) earnings per share. As a group, analysts anticipate that Creative Media & Community Trust Co. will post -1.24 earnings per share for the current year.

Creative Media & Community Trust Co. Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 25th will be given a $0.04 dividend. The ex-dividend date is Wednesday, September 25th. This represents a $0.16 dividend on an annualized basis and a yield of 32.55%. Creative Media & Community Trust Co.’s dividend payout ratio (DPR) is -10.24%.

Hedge Funds Weigh In On Creative Media & Community Trust Co.

Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Creative Media & Community Trust Co. by 13.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 65,190 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 7,863 shares during the period. Presima Securities ULC acquired a new stake in shares of Creative Media & Community Trust Co. in the 4th quarter valued at approximately $258,000. Finally, Pale Fire Capital SE boosted its stake in shares of 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. 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.