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

StockNews.com assumed coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT) in a report published on Thursday morning. The firm issued a sell rating on the real estate investment trust’s stock.

Creative Media & Community Trust Co. Trading Down 2.1 %

Shares of NASDAQ:CMCT traded down $0.01 during trading on Thursday, reaching $0.38. The company had a trading volume of 313,381 shares, compared to its average volume of 134,753. The company has a fifty day moving average of $1.03 and a two-hundred day moving average of $2.08. Creative Media & Community Trust Co. has a 12 month low of $0.36 and a 12 month high of $4.40. The stock has a market capitalization of $8.93 million, a P/E ratio of -0.15 and a beta of 0.56.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last issued its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported ($0.43) 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 period in the previous year, the business earned ($0.17) EPS. As a group, equities research analysts predict 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 $0.04 dividend. The ex-dividend date of this dividend was Wednesday, September 25th. This represents a $0.16 annualized dividend and a yield of 41.66%. Creative Media & Community Trust Co.’s dividend payout ratio (DPR) is presently -6.05%.

Institutional Investors Weigh In On Creative Media & Community Trust Co.

Several large investors have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new position in shares of Creative Media & Community Trust Co. during the third quarter valued at approximately $29,000. Dimensional Fund Advisors LP grew its stake in shares of Creative Media & Community Trust Co. by 13.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 65,190 shares of the real estate investment trust’s stock valued at $175,000 after acquiring an additional 7,863 shares during the period. EWG Elevate Inc. bought a new stake in Creative Media & Community Trust Co. during the 3rd quarter valued at approximately $37,000. Calton & Associates Inc. bought a new position in shares of Creative Media & Community Trust Co. during the 3rd quarter valued at about $47,000. Finally, Carnegie Investment Counsel bought a new stake in Creative Media & Community Trust Co. in the third quarter worth $50,000. 28.34% of the stock is currently owned by 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.