StockNews.com initiated coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT – Free Report) 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 – Get Free Report) 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
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.
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