Creative Media & Community Trust Co. (NASDAQ:CMCT) Earns Sell Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT) in a research report sent to investors on Saturday morning. The brokerage issued a sell rating on the real estate investment trust’s stock.

Creative Media & Community Trust Co. Stock Up 5.8 %

CMCT stock opened at $0.52 on Friday. The company’s 50-day simple moving average is $1.93 and its 200-day simple moving average is $2.71. Creative Media & Community Trust Co. has a 52-week low of $0.42 and a 52-week high of $4.40. The firm has a market cap of $11.85 million, a P/E ratio of -0.16 and a beta of 0.58.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last released its quarterly 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 company had revenue of $34.44 million for the quarter, compared to analysts’ expectations of $33.12 million. During the same period in the previous year, the business posted ($0.17) EPS. On average, analysts anticipate that Creative Media & Community Trust Co. will post -1.24 earnings per share for the current fiscal year.

Creative Media & Community Trust Co. Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 25th will be issued a $0.04 dividend. The ex-dividend date is Wednesday, September 25th. This represents a $0.16 dividend on an annualized basis and a yield of 30.78%. Creative Media & Community Trust Co.’s payout ratio is -4.82%.

Institutional Trading of Creative Media & Community Trust Co.

Hedge funds have recently bought and sold shares of the business. Presima Securities ULC acquired a new stake in Creative Media & Community Trust Co. in the 4th quarter valued at about $258,000. Pale Fire Capital SE raised its holdings 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 valued at $1,607,000 after acquiring an additional 251,276 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Creative Media & Community Trust Co. by 13.7% in 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 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.