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

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

Creative Media & Community Trust Co. Stock Performance

Shares of CMCT opened at $0.47 on Tuesday. The firm has a market cap of $10.86 million, a PE ratio of -0.18 and a beta of 0.55. The firm’s 50 day moving average price is $1.36 and its 200 day moving average price is $2.30. Creative Media & Community Trust Co. has a twelve month low of $0.42 and a twelve month high of $4.40.

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) EPS 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 the consensus estimate of $33.12 million. During the same quarter last year, the company posted ($0.17) earnings per share. On average, sell-side analysts anticipate that Creative Media & Community Trust Co. will post -1.22 earnings per share for the current fiscal year.

Creative Media & Community Trust Co. Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 25th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 34.26%. The ex-dividend date of this dividend was Wednesday, September 25th. Creative Media & Community Trust Co.’s dividend payout ratio is -6.05%.

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

A number of institutional investors have recently modified their holdings of the company. PFG Investments LLC bought a new position in shares of Creative Media & Community Trust Co. in the third quarter valued at approximately $266,000. Arkadios Wealth Advisors bought a new position in shares of Creative Media & Community Trust Co. in the third quarter valued at approximately $548,000. International Assets Investment Management LLC bought a new position in shares of Creative Media & Community Trust Co. in the third quarter valued at approximately $29,000. Sequoia Financial Advisors LLC bought a new position in shares of Creative Media & Community Trust Co. in the third quarter valued at approximately $65,000. Finally, Calton & Associates Inc. bought a new position in Creative Media & Community Trust Co. during the third quarter worth $47,000. Institutional investors own 28.34% of the company’s stock.

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.