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

Analysts at StockNews.com began coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT) in a research note issued on Monday. The firm set a “sell” rating on the real estate investment trust’s stock.

Creative Media & Community Trust Co. Stock Down 6.8 %

Shares of CMCT opened at $2.07 on Monday. Creative Media & Community Trust Co. has a 12-month low of $2.04 and a 12-month high of $4.65. The firm has a market capitalization of $47.17 million, a PE ratio of -0.62 and a beta of 0.58. The stock’s fifty day simple moving average is $2.40 and its 200-day simple moving average is $3.07.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last released its 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 analysts’ expectations of $33.12 million. During the same quarter last year, the firm earned ($0.17) earnings per share. Analysts anticipate that Creative Media & Community Trust Co. will post -0.93 EPS for the current year.

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

Hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. acquired a new position in Creative Media & Community Trust Co. in the fourth quarter valued at about $70,000. Dimensional Fund Advisors LP increased its holdings 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 worth $175,000 after acquiring an additional 7,863 shares in the last quarter. Presima Securities ULC bought a new stake in shares of Creative Media & Community Trust Co. in the fourth quarter worth about $258,000. Finally, Pale Fire Capital SE increased its holdings 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 worth $1,607,000 after acquiring an additional 251,276 shares in the last quarter. Institutional investors and hedge funds own 28.34% of the company’s stock.

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.