StockNews.com assumed coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT – Free Report) in a research report report published on Sunday morning. The brokerage issued a sell rating on the real estate investment trust’s stock.
Separately, B. Riley initiated coverage on Creative Media & Community Trust Co. in a report on Thursday, April 11th. They set a neutral rating and a $4.00 price objective on the stock.
Read Our Latest Stock Analysis on Creative Media & Community Trust Co.
Creative Media & Community Trust Co. Price Performance
Creative Media & Community Trust Co. Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were given a $0.085 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 10.09%. Creative Media & Community Trust Co.’s dividend payout ratio is currently -10.18%.
Institutional Trading of Creative Media & Community Trust Co.
A number of hedge funds have recently modified their holdings of CMCT. Arkadios Wealth Advisors bought a new stake in shares of Creative Media & Community Trust Co. in the 4th quarter worth approximately $39,000. Victory Capital Management Inc. bought a new stake in shares of Creative Media & Community Trust Co. in the 4th quarter worth approximately $70,000. Presima Securities ULC acquired a new position in shares of Creative Media & Community Trust Co. in the 4th quarter worth approximately $258,000. Yelin Lapidot Holdings Management Ltd. acquired a new position in shares of Creative Media & Community Trust Co. in the 3rd quarter worth approximately $1,273,000. Finally, First Foundation Advisors raised its holdings in shares of Creative Media & Community Trust Co. by 3.1% in the 3rd quarter. First Foundation Advisors now owns 390,127 shares of the real estate investment trust’s stock worth $1,580,000 after buying an additional 11,612 shares in the last quarter. 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.
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