Creative Media & Community Trust Co. (NASDAQ:CMCT) Earns Sell Rating from Analysts at StockNews.com

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

Creative Media & Community Trust Co. Stock Performance

Shares of Creative Media & Community Trust Co. stock opened at $0.49 on Friday. The business has a 50-day simple moving average of $1.97 and a 200-day simple moving average of $2.73. Creative Media & Community Trust Co. has a one year low of $0.42 and a one year high of $4.40. The company has a market cap of $11.20 million, a PE ratio of -0.15 and a beta of 0.58.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last announced its quarterly earnings data 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 firm had revenue of $34.44 million for the quarter, compared to analyst estimates of $33.12 million. During the same quarter last year, the firm earned ($0.17) EPS. On average, sell-side analysts predict that Creative Media & Community Trust Co. will post -1.24 earnings per share for the current fiscal year.

Creative Media & Community Trust Co. Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 25th will be given a dividend of $0.04 per share. The ex-dividend date is Wednesday, September 25th. This represents a $0.16 annualized dividend and a dividend yield of 32.55%. Creative Media & Community Trust Co.’s dividend payout ratio is currently -10.24%.

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

Several hedge funds have recently added to or reduced their stakes in the stock. Pale Fire Capital SE grew its stake in Creative Media & Community Trust Co. by 136.4% during the 4th 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 during the last quarter. Presima Securities ULC acquired a new stake in shares of Creative Media & Community Trust Co. in the fourth quarter valued at approximately $258,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Creative Media & Community Trust Co. by 13.7% during the second quarter. Dimensional Fund Advisors LP now owns 65,190 shares of the real estate investment trust’s stock worth $175,000 after acquiring an additional 7,863 shares during the last quarter. 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.