Creative Media & Community Trust Co. (NASDAQ:CMCT) Short Interest Up 44.7% in October

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

Wall Street Analysts Forecast Growth

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

Creative Media & Community Trust Co. Price Performance

Shares of CMCT traded down $0.03 during trading hours on Friday, reaching $0.28. 439,576 shares of the company traded hands, compared to its average volume of 149,267. The stock has a fifty day simple moving average of $0.84 and a 200 day simple moving average of $1.95. The company has a quick ratio of 3.49, a current ratio of 2.71 and a debt-to-equity ratio of 438.44. Creative Media & Community Trust Co. has a fifty-two week low of $0.28 and a fifty-two week high of $4.40. The stock has a market capitalization of $6.46 million, a PE ratio of -0.10 and a beta of 0.56.

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 analysts’ consensus estimates of ($0.36) by ($0.86). The firm had revenue of $28.62 million during the quarter. During the same period in the prior year, the business posted ($0.30) EPS. As a group, 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 business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 25th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, September 25th. This represents a $0.16 annualized dividend and a dividend yield of 57.55%. Creative Media & Community Trust Co.’s payout ratio is currently -5.56%.

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

Several hedge funds have recently modified their holdings of CMCT. Cerity Partners LLC acquired a new stake in Creative Media & Community Trust Co. during the 3rd quarter valued at approximately $1,397,000. Stonebridge Financial Planning Group LLC acquired a new stake in Creative Media & Community Trust Co. during the 3rd quarter valued at approximately $39,000. PFG Investments LLC acquired a new stake in Creative Media & Community Trust Co. during the 3rd quarter valued at approximately $266,000. Arkadios Wealth Advisors acquired a new stake in Creative Media & Community Trust Co. during the 3rd quarter valued at approximately $548,000. Finally, International Assets Investment Management LLC acquired a new stake in Creative Media & Community Trust Co. during the 3rd quarter valued at approximately $29,000. 28.34% of the stock is currently owned by hedge funds and other institutional investors.

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.