StockNews.com initiated coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT – Free Report) in a research note released on Thursday morning. The brokerage issued a sell rating on the real estate investment trust’s stock.
Separately, B. Riley started coverage on shares of Creative Media & Community Trust Co. in a research report on Thursday, April 11th. They issued a neutral rating and a $4.00 target price for the company.
Check Out Our Latest Report on Creative Media & Community Trust Co.
Creative Media & Community Trust Co. Stock Performance
Creative Media & Community Trust Co. Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be given a $0.085 dividend. The ex-dividend date is Monday, July 8th. This represents a $0.34 dividend on an annualized basis and a yield of 15.38%. Creative Media & Community Trust Co.’s dividend payout ratio is presently -10.24%.
Hedge Funds Weigh In On Creative Media & Community Trust Co.
A number of institutional investors and hedge funds have recently bought and sold shares of CMCT. Pale Fire Capital SE grew its position in Creative Media & Community Trust Co. by 136.4% in the 4th 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. Presima Securities ULC bought a new position in shares of Creative Media & Community Trust Co. during the 4th quarter valued at about $258,000. Victory Capital Management Inc. bought a new position in shares of Creative Media & Community Trust Co. during the 4th quarter valued at about $70,000. Finally, Arkadios Wealth Advisors bought a new position in shares of Creative Media & Community Trust Co. during the 4th quarter valued at about $39,000. Institutional investors own 28.34% of the company’s stock.
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.
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