Creative Media & Community Trust Co. (NASDAQ:CMCT) Announces Quarterly Dividend of $0.04

Creative Media & Community Trust Co. (NASDAQ:CMCT) announced a quarterly dividend on Thursday, September 19th, Wall Street Journal reports. Investors of record on Wednesday, September 25th will be paid a dividend of 0.04 per share by the real estate investment trust on Tuesday, October 8th. This represents a $0.16 annualized dividend and a yield of 8.12%. The ex-dividend date of this dividend is Wednesday, September 25th.

Creative Media & Community Trust Co. has a payout ratio of 9.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Creative Media & Community Trust Co. to earn ($1.39) per share next year, which means the company may not be able to cover its $0.34 annual dividend with an expected future payout ratio of -24.5%.

Creative Media & Community Trust Co. Trading Down 4.4 %

Shares of CMCT opened at $1.97 on Tuesday. The company’s fifty day simple moving average is $2.08 and its 200-day simple moving average is $2.81. The company has a market cap of $44.89 million, a P/E ratio of -0.59 and a beta of 0.58. Creative Media & Community Trust Co. has a twelve month low of $1.88 and a twelve month high of $4.61.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last issued its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 earned ($0.17) EPS. Analysts predict that Creative Media & Community Trust Co. will post -1.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Creative Media & Community Trust Co. in a research report on Friday. They set a “sell” rating for the company.

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.