Creative Media & Community Trust Co. (NASDAQ:CMCT) Short Interest Update

Creative Media & Community Trust Co. (NASDAQ:CMCT) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totalling 140,800 shares, a growth of 149.6% from the September 15th total of 56,400 shares. Based on an average daily trading volume, of 243,300 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Creative Media & Community Trust Co. by 13.7% in the second quarter. Dimensional Fund Advisors LP now owns 65,190 shares of the real estate investment trust’s stock valued at $175,000 after buying an additional 7,863 shares during the period. EWG Elevate Inc. acquired a new stake in Creative Media & Community Trust Co. during the 3rd quarter valued at approximately $37,000. Finally, Carnegie Investment Counsel bought a new position in Creative Media & Community Trust Co. during the 3rd quarter worth approximately $50,000. Institutional investors and hedge funds own 28.34% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Creative Media & Community Trust Co. in a research report on Sunday, October 6th. They issued a “sell” rating for the company.

Creative Media & Community Trust Co. Stock Performance

Shares of NASDAQ CMCT remained flat at $0.60 during trading hours on Friday. 595,979 shares of the company traded hands, compared to its average volume of 92,471. The firm has a fifty day moving average of $1.64 and a two-hundred day moving average of $2.53. The firm has a market cap of $13.67 million, a P/E ratio of -0.18 and a beta of 0.55. Creative Media & Community Trust Co. has a twelve month low of $0.42 and a twelve month high of $4.40.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last released its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.23). The company had revenue of $34.44 million during the quarter, compared to analyst estimates of $33.12 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. Equities analysts anticipate that Creative Media & Community Trust Co. will post -1.22 earnings per share for the current fiscal year.

Creative Media & Community Trust Co. Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 25th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 26.67%. The ex-dividend date was Wednesday, September 25th. Creative Media & Community Trust Co.’s payout ratio is -4.82%.

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.