Creative Media & Community Trust Co. (NASDAQ:CMCT) Releases Earnings Results, Misses Expectations By $0.23 EPS

Creative Media & Community Trust Co. (NASDAQ:CMCT) announced its quarterly earnings results on Thursday. The real estate investment trust reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.23), Zacks reports. The company had revenue of $34.44 million for the quarter, compared to the consensus estimate of $33.12 million. During the same quarter in the prior year, the firm earned ($0.17) EPS.

Creative Media & Community Trust Co. Stock Down 1.1 %

NASDAQ:CMCT traded down $0.02 during mid-day trading on Friday, hitting $2.14. 1,731 shares of the stock traded hands, compared to its average volume of 16,105. The business’s 50-day moving average price is $2.51 and its 200 day moving average price is $3.13. The company has a market cap of $48.68 million, a PE ratio of -0.64 and a beta of 0.58. Creative Media & Community Trust Co. has a 12-month low of $2.04 and a 12-month high of $4.65.

Creative Media & Community Trust Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were issued a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 15.92%. The ex-dividend date was Monday, July 8th. Creative Media & Community Trust Co.’s payout ratio is -10.24%.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Creative Media & Community Trust Co. in a research report on Sunday. They set a “sell” rating on the 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.