Creative Media & Community Trust Co. (CMCT) to Issue Quarterly Dividend of $0.04 on October 8th

Creative Media & Community Trust Co. (NASDAQ:CMCT) declared a quarterly dividend on Thursday, September 19th, Wall Street Journal reports. Shareholders of record on Wednesday, September 25th will be given a dividend of 0.04 per share by the real estate investment trust on Tuesday, October 8th. This represents a $0.16 dividend on an annualized basis and a yield of 7.77%. The ex-dividend date of this dividend is Wednesday, September 25th.

Creative Media & Community Trust Co. has a payout ratio of 9.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Creative Media & Community Trust Co. to earn ($1.39) per share next year, which means the company may not be able to cover its $0.34 annual dividend with an expected future payout ratio of -24.5%.

Creative Media & Community Trust Co. Trading Up 7.9 %

Shares of Creative Media & Community Trust Co. stock opened at $2.06 on Monday. Creative Media & Community Trust Co. has a twelve month low of $1.88 and a twelve month high of $4.61. The firm has a market capitalization of $46.94 million, a PE ratio of -0.62 and a beta of 0.58. The firm’s 50-day moving average price is $2.08 and its 200 day moving average price is $2.82.

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 business had revenue of $34.44 million during the quarter, compared to the consensus estimate of $33.12 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. On average, sell-side analysts predict that Creative Media & Community Trust Co. will post -1.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Creative Media & Community Trust Co. in a report on Friday. They issued a “sell” rating for the company.

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.