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

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

Creative Media & Community Trust Co. Stock Performance

Shares of NASDAQ CMCT traded down $0.03 during trading on Friday, reaching $0.28. 439,576 shares of the stock traded hands, compared to its average volume of 149,267. The company has a debt-to-equity ratio of 438.44, a current ratio of 2.71 and a quick ratio of 3.49. The stock has a market capitalization of $6.46 million, a P/E 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 company has a 50-day moving average of $0.84 and a 200-day moving average of $1.95.

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) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.86). The business had revenue of $28.62 million for the quarter. During the same quarter in the prior year, the firm earned ($0.30) EPS. 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 25th were paid a $0.04 dividend. The ex-dividend date was Wednesday, September 25th. This represents a $0.16 dividend on an annualized basis and a yield of 57.55%. Creative Media & Community Trust Co.’s dividend payout ratio is -5.56%.

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

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cerity Partners LLC purchased a new position in shares of Creative Media & Community Trust Co. in the third quarter valued at $1,397,000. Stonebridge Financial Planning Group LLC purchased a new stake in Creative Media & Community Trust Co. during the 3rd quarter worth about $39,000. PFG Investments LLC bought a new position in Creative Media & Community Trust Co. in the 3rd quarter worth about $266,000. Arkadios Wealth Advisors bought a new position in Creative Media & Community Trust Co. in the 3rd quarter worth about $548,000. Finally, International Assets Investment Management LLC purchased a new position in Creative Media & Community Trust Co. during the 3rd quarter valued at about $29,000. Institutional investors 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.