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

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

Separately, B. Riley initiated coverage on shares of Creative Media & Community Trust Co. in a research note on Thursday, April 11th. They set a neutral rating and a $4.00 target price for the company.

Creative Media & Community Trust Co. Stock Performance

Creative Media & Community Trust Co. stock traded up $0.09 during trading on Friday, reaching $2.14. The company had a trading volume of 908 shares, compared to its average volume of 11,045. The firm has a market capitalization of $48.77 million, a PE ratio of -0.67 and a beta of 0.58. The firm’s 50-day simple moving average is $2.59 and its 200 day simple moving average is $3.18. Creative Media & Community Trust Co. has a 1-year low of $2.04 and a 1-year high of $4.87.

Creative Media & Community Trust Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were paid a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a yield of 15.89%. The ex-dividend date was Monday, July 8th. Creative Media & Community Trust Co.’s dividend payout ratio (DPR) is presently -10.24%.

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

A number of institutional investors and hedge funds have recently made changes to their positions in CMCT. Arkadios Wealth Advisors purchased a new position in shares of Creative Media & Community Trust Co. during the 4th quarter worth approximately $39,000. Victory Capital Management Inc. acquired a new position in Creative Media & Community Trust Co. during the fourth quarter worth $70,000. Presima Securities ULC purchased a new position in shares of Creative Media & Community Trust Co. during the fourth quarter worth $258,000. Finally, Pale Fire Capital SE grew its stake in shares of Creative Media & Community Trust Co. by 136.4% in the fourth quarter. Pale Fire Capital SE now owns 435,472 shares of the real estate investment trust’s stock valued at $1,607,000 after buying an additional 251,276 shares in the last quarter. 28.34% of the stock is 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.