Short Interest in Creative Media & Community Trust Co. (NASDAQ:CMCT) Rises By 13.9%

Creative Media & Community Trust Co. (NASDAQ:CMCT) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 56,400 shares, a growth of 13.9% from the August 31st total of 49,500 shares. Based on an average trading volume of 17,500 shares, the days-to-cover ratio is presently 3.2 days. Currently, 0.5% of the shares of the stock are short sold.

Hedge Funds Weigh In On Creative Media & Community Trust Co.

Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in Creative Media & Community Trust Co. by 13.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 65,190 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 7,863 shares in the last quarter. Presima Securities ULC acquired a new stake in shares of Creative Media & Community Trust Co. during the 4th quarter worth about $258,000. Finally, Pale Fire Capital SE grew its holdings in shares of Creative Media & Community Trust Co. by 136.4% during the fourth quarter. Pale Fire Capital SE now owns 435,472 shares of the real estate investment trust’s stock worth $1,607,000 after buying an additional 251,276 shares in the last quarter. Hedge funds and other institutional investors own 28.34% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Creative Media & Community Trust Co. in a research report on Saturday. They set a “sell” rating on the stock.

Creative Media & Community Trust Co. Trading Down 21.9 %

Shares of CMCT opened at $0.49 on Tuesday. Creative Media & Community Trust Co. has a twelve month low of $0.42 and a twelve month high of $4.40. The firm has a market capitalization of $11.20 million, a P/E ratio of -0.15 and a beta of 0.58. The firm’s 50-day moving average is $1.97 and its two-hundred day moving average is $2.73.

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 analysts’ consensus estimates of ($0.20) by ($0.23). The company had revenue of $34.44 million during the quarter, compared to analyst estimates of $33.12 million. During the same quarter in the prior year, the company posted ($0.17) EPS. Analysts predict that Creative Media & Community Trust Co. will post -1.24 EPS for the current year.

Creative Media & Community Trust Co. Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 25th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 32.55%. The ex-dividend date of this dividend is Wednesday, September 25th. Creative Media & Community Trust Co.’s dividend payout ratio (DPR) is presently -4.82%.

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.