StockNews.com began coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT – Free Report) in a research note released on Thursday. The firm issued a sell rating on the real estate investment trust’s stock.
Separately, B. Riley initiated coverage on shares of Creative Media & Community Trust Co. in a report on Thursday, April 11th. They issued a neutral rating and a $4.00 target price on the stock.
View Our Latest Stock Report on CMCT
Creative Media & Community Trust Co. Price Performance
Creative Media & Community Trust Co. Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were paid a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a yield of 11.45%. The ex-dividend date was Friday, April 5th. Creative Media & Community Trust Co.’s payout ratio is -10.24%.
Institutional Trading of Creative Media & Community Trust Co.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arkadios Wealth Advisors purchased a new stake in shares of Creative Media & Community Trust Co. in the fourth quarter valued at approximately $39,000. Victory Capital Management Inc. acquired a new stake in Creative Media & Community Trust Co. during the 4th quarter valued at approximately $70,000. Presima Securities ULC purchased a new stake in Creative Media & Community Trust Co. in the fourth quarter valued at $258,000. First Foundation Advisors boosted its stake in shares of Creative Media & Community Trust Co. by 3.1% in the third quarter. First Foundation Advisors now owns 390,127 shares of the real estate investment trust’s stock worth $1,580,000 after buying an additional 11,612 shares during the last quarter. Finally, Pale Fire Capital SE boosted its position in Creative Media & Community Trust Co. by 136.4% in the 4th quarter. Pale Fire Capital SE now owns 435,472 shares of the real estate investment trust’s stock worth $1,607,000 after purchasing an additional 251,276 shares in the last quarter. 28.34% of the stock is owned by hedge funds and other institutional investors.
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.
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