Creative Media & Community Trust Co. (NASDAQ:CMCT) Posts Earnings Results, Misses Expectations By $0.86 EPS

Creative Media & Community Trust Co. (NASDAQ:CMCT) released its earnings results on Friday. The real estate investment trust reported ($1.22) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.86), Zacks reports. The company had revenue of $28.62 million for the quarter. During the same quarter last year, the firm earned ($0.30) earnings per share.

Creative Media & Community Trust Co. Trading Down 3.9 %

Shares of CMCT traded down $0.01 during midday trading on Monday, hitting $0.36. The stock had a trading volume of 309,814 shares, compared to its average volume of 136,176. Creative Media & Community Trust Co. has a fifty-two week low of $0.36 and a fifty-two week high of $4.40. The business has a 50-day simple moving average of $1.00 and a two-hundred day simple moving average of $2.04. The firm has a market cap of $8.45 million, a P/E ratio of -0.13 and a beta of 0.56.

Creative Media & Community Trust Co. Cuts Dividend

The company also recently disclosed 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. This represents a $0.16 dividend on an annualized basis and a yield of 44.04%. The ex-dividend date was Wednesday, September 25th. Creative Media & Community Trust Co.’s dividend payout ratio is presently -5.56%.

Wall Street Analyst Weigh In

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

Creative Media & Community Trust Co. Company Profile

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.