StockNews.com Begins Coverage on Creative Media & Community Trust Co. (NASDAQ:CMCT)

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

Creative Media & Community Trust Co. Trading Down 4.5 %

NASDAQ CMCT opened at $0.53 on Monday. The stock has a market cap of $12.18 million, a P/E ratio of -0.16 and a beta of 0.55. The company has a fifty day simple moving average of $1.55 and a two-hundred day simple moving average of $2.44. Creative Media & Community Trust Co. has a 12-month low of $0.42 and a 12-month high of $4.40.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last released its quarterly earnings data 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 firm had revenue of $34.44 million for the quarter, compared to analyst estimates of $33.12 million. During the same quarter in the prior year, the business earned ($0.17) earnings per share. As a group, sell-side analysts forecast that Creative Media & Community Trust Co. will post -1.22 earnings per share for the current year.

Creative Media & Community Trust Co. Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 25th were paid a $0.04 dividend. 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 29.92%. Creative Media & Community Trust Co.’s payout ratio is -4.82%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in shares of 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 during the period. EWG Elevate Inc. purchased a new stake in Creative Media & Community Trust Co. during the third quarter worth $37,000. Finally, Carnegie Investment Counsel acquired a new stake in Creative Media & Community Trust Co. during the third quarter valued at $50,000. 28.34% of the stock is currently owned by hedge funds and other 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.