Creative Media & Community Trust Co. (NASDAQ:CMCT) Sees Large Increase in Short Interest

Creative Media & Community Trust Co. (NASDAQ:CMCT) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 106,900 shares, an increase of 44.7% from the October 15th total of 73,900 shares. Based on an average trading volume of 430,600 shares, the days-to-cover ratio is currently 0.2 days.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Creative Media & Community Trust Co. in a research report on Thursday, November 7th. They set a “sell” rating for the company.

Institutional Trading of Creative Media & Community Trust Co.

Several institutional investors have recently added to or reduced their stakes in CMCT. Cerity Partners LLC acquired a new stake in shares of Creative Media & Community Trust Co. during the 3rd quarter worth approximately $1,397,000. Stonebridge Financial Planning Group LLC purchased a new position in Creative Media & Community Trust Co. during the third quarter worth about $39,000. PFG Investments LLC purchased a new stake in shares of Creative Media & Community Trust Co. in the 3rd quarter valued at approximately $266,000. Arkadios Wealth Advisors acquired a new stake in shares of Creative Media & Community Trust Co. during the 3rd quarter worth approximately $548,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Creative Media & Community Trust Co. during the 3rd quarter valued at approximately $29,000. Institutional investors own 28.34% of the company’s stock.

Creative Media & Community Trust Co. Stock Up 7.0 %

Shares of CMCT stock traded up $0.02 during mid-day trading on Thursday, hitting $0.31. The company’s stock had a trading volume of 534,733 shares, compared to its average volume of 147,942. The stock has a market cap of $7.11 million, a price-to-earnings ratio of -0.10 and a beta of 0.56. Creative Media & Community Trust Co. has a 52-week low of $0.28 and a 52-week high of $4.40. The business has a 50-day moving average price of $0.90 and a 200 day moving average price of $1.98. The company has a debt-to-equity ratio of 438.44, a quick ratio of 3.49 and a current ratio of 2.71.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last released its quarterly earnings data on Friday, November 8th. The real estate investment trust reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.86). The firm had revenue of $28.62 million for the quarter. During the same quarter in the previous year, the company earned ($0.30) EPS. Research analysts predict that Creative Media & Community Trust Co. will post -1.22 EPS for the current fiscal year.

Creative Media & Community Trust Co. Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 25th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 52.29%. The ex-dividend date of this dividend was Wednesday, September 25th. Creative Media & Community Trust Co.’s dividend payout ratio is -5.56%.

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.