StockNews.com Begins Coverage on Creative Media & Community Trust Co. (NASDAQ:CMCT)

StockNews.com began coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT) in a research report released on Thursday morning. The firm issued a sell rating on the real estate investment trust’s stock.

Creative Media & Community Trust Co. Price Performance

CMCT opened at $1.99 on Thursday. The stock’s 50 day simple moving average is $2.14 and its 200 day simple moving average is $2.88. The firm has a market cap of $45.24 million, a price-to-earnings ratio of -0.60 and a beta of 0.58. Creative Media & Community Trust Co. has a 1 year low of $1.88 and a 1 year high of $4.61.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last issued its earnings results on Thursday, August 8th. The real estate investment trust reported ($0.43) earnings per share (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 quarter last year, the company earned ($0.17) EPS. As a group, sell-side analysts anticipate that Creative Media & Community Trust Co. will post -0.93 EPS for the current year.

Creative Media & Community Trust Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were issued a dividend of $0.085 per share. The ex-dividend date was Monday, July 8th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 17.13%. Creative Media & Community Trust Co.’s dividend payout ratio is currently -10.24%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. purchased a new position in shares of Creative Media & Community Trust Co. during the fourth quarter valued at approximately $70,000. Dimensional Fund Advisors LP raised its holdings in Creative Media & Community Trust Co. by 13.7% in 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 in the last quarter. Presima Securities ULC purchased a new stake in shares of Creative Media & Community Trust Co. in the 4th quarter worth about $258,000. Finally, Pale Fire Capital SE boosted its stake in shares of Creative Media & Community Trust Co. by 136.4% during 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 purchasing an additional 251,276 shares in the last quarter. 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.