Creative Media & Community Trust Co. (NASDAQ:CMCT) Coverage Initiated at StockNews.com

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

Creative Media & Community Trust Co. Stock Performance

Shares of CMCT opened at $0.53 on Monday. 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 $12.08 million, a price-to-earnings ratio of -0.16 and a beta of 0.55. The business’s fifty day moving average is $1.52 and its 200-day moving average is $2.42.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $33.12 million. During the same period last year, the firm posted ($0.17) earnings per share. As a group, research analysts forecast that Creative Media & Community Trust Co. will post -1.22 EPS for the current fiscal year.

Creative Media & Community Trust Co. Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 25th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, September 25th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 30.19%. Creative Media & Community Trust Co.’s payout ratio is presently -4.82%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. EWG Elevate Inc. acquired a new position in Creative Media & Community Trust Co. in the 3rd quarter worth about $37,000. Carnegie Investment Counsel bought a new stake in shares of Creative Media & Community Trust Co. during the third quarter worth about $50,000. Finally, Dimensional Fund Advisors LP increased its stake 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 valued at $175,000 after buying an additional 7,863 shares during the period. 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.