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 note published on Monday morning. The firm issued a sell rating on the real estate investment trust’s stock.

Creative Media & Community Trust Co. Price Performance

Shares of NASDAQ:CMCT opened at $0.53 on Monday. The business’s 50 day moving average price is $1.55 and its 200-day moving average price is $2.44. Creative Media & Community Trust Co. has a 1 year low of $0.42 and a 1 year high of $4.40. The firm has a market capitalization of $12.18 million, a price-to-earnings ratio of -0.16 and a beta of 0.55.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last posted its quarterly earnings data 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 business had revenue of $34.44 million for the quarter, compared to analyst estimates of $33.12 million. During the same quarter last year, the firm posted ($0.17) earnings per share. On average, sell-side analysts expect that Creative Media & Community Trust Co. will post -1.22 earnings per share for the current year.

Creative Media & Community Trust Co. Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 25th were issued a dividend of $0.04 per share. The ex-dividend date was Wednesday, September 25th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 29.92%. Creative Media & Community Trust Co.’s payout ratio is currently -4.82%.

Institutional Trading of Creative Media & Community Trust Co.

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

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.