Short Interest in Creative Media & Community Trust Co. (NASDAQ:CMCT) Drops By 47.5%

Creative Media & Community Trust Co. (NASDAQ:CMCT) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 73,900 shares, a decrease of 47.5% from the September 30th total of 140,800 shares. Based on an average trading volume of 321,900 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Creative Media & Community Trust Co. in a research report on Tuesday. They issued a “sell” rating on the stock.

Creative Media & Community Trust Co. Trading Down 1.5 %

NASDAQ:CMCT traded down $0.01 on Friday, reaching $0.46. 470,041 shares of the stock traded hands, compared to its average volume of 113,099. Creative Media & Community Trust Co. has a 12 month low of $0.42 and a 12 month high of $4.40. The company has a market capitalization of $10.70 million, a price-to-earnings ratio of -0.17 and a beta of 0.55. The company’s fifty day simple moving average is $1.32 and its 200 day simple moving average is $2.28.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last released its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.23). The firm had revenue of $34.44 million for the quarter, compared to analysts’ expectations of $33.12 million. During the same period in the prior year, the firm earned ($0.17) earnings per share. Equities analysts anticipate 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 given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 34.77%. The ex-dividend date was Wednesday, September 25th. Creative Media & Community Trust Co.’s dividend payout ratio is -6.05%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CMCT. International Assets Investment Management LLC bought a new stake in shares of Creative Media & Community Trust Co. in the 3rd quarter valued at about $29,000. EWG Elevate Inc. purchased a new stake in Creative Media & Community Trust Co. in the third quarter valued at about $37,000. Calton & Associates Inc. purchased a new position in shares of Creative Media & Community Trust Co. in the 3rd quarter valued at approximately $47,000. Carnegie Investment Counsel acquired a new stake in shares of Creative Media & Community Trust Co. during the third quarter worth $50,000. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Creative Media & Community Trust Co. in the third quarter valued at about $65,000. 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.