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 Monday. The brokerage issued a sell rating on the real estate investment trust’s stock.

Creative Media & Community Trust Co. Price Performance

NASDAQ CMCT opened at $2.00 on Monday. The business has a 50 day moving average price of $2.37 and a 200 day moving average price of $3.05. The company has a market capitalization of $45.58 million, a P/E ratio of -0.60 and a beta of 0.58. Creative Media & Community Trust Co. has a 1-year low of $1.90 and a 1-year high of $4.65.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last released its quarterly earnings results 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 business had revenue of $34.44 million during the quarter, compared to the consensus estimate of $33.12 million. During the same period last year, the firm earned ($0.17) earnings per share. On average, research analysts expect that Creative Media & Community Trust Co. will post -0.93 earnings per share for the current fiscal year.

Creative Media & Community Trust Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were given a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a yield of 17.00%. The ex-dividend date was Monday, July 8th. Creative Media & Community Trust Co.’s payout ratio is -10.24%.

Hedge Funds Weigh In On Creative Media & Community Trust Co.

Hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. purchased a new stake in shares of Creative Media & Community Trust Co. in the fourth quarter valued at $70,000. Presima Securities ULC purchased a new stake in shares of Creative Media & Community Trust Co. in the fourth quarter valued at $258,000. Pale Fire Capital SE grew its position in shares of Creative Media & Community Trust Co. by 136.4% in the fourth 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 during the period. Finally, Dimensional Fund Advisors LP grew its position 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 purchasing an additional 7,863 shares during the period. Hedge funds and other 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.