Creative Media & Community Trust Co. (NASDAQ:CMCT) Plans Quarterly Dividend of $0.09

Creative Media & Community Trust Co. (NASDAQ:CMCT) announced a quarterly dividend on Wednesday, March 27th, investing.com reports. Shareholders of record on Monday, April 8th will be given a dividend of 0.085 per share by the real estate investment trust on Monday, April 22nd. This represents a $0.34 dividend on an annualized basis and a yield of 7.98%. The ex-dividend date of this dividend is Friday, April 5th.

Creative Media & Community Trust Co. has raised its dividend payment by an average of 4.3% per year over the last three years. Creative Media & Community Trust Co. has a dividend payout ratio of 9.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Creative Media & Community Trust Co. to earn $0.34 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 100.0%.

Creative Media & Community Trust Co. Trading Up 1.4 %

Shares of CMCT stock opened at $4.26 on Friday. The stock has a 50 day simple moving average of $3.59 and a 200 day simple moving average of $3.80. Creative Media & Community Trust Co. has a 1 year low of $3.19 and a 1 year high of $5.80. The stock has a market cap of $97.09 million, a P/E ratio of -1.28 and a beta of 0.49.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Creative Media & Community Trust Co. in a research report on Thursday. They set a “sell” rating for the company.

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

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in shares of Creative Media & Community Trust Co. by 6.2% during the 1st quarter. Bank of New York Mellon Corp now owns 48,580 shares of the real estate investment trust’s stock worth $376,000 after acquiring an additional 2,848 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Creative Media & Community Trust Co. by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 96,084 shares of the real estate investment trust’s stock valued at $744,000 after buying an additional 1,632 shares during the period. Covestor Ltd acquired a new stake in Creative Media & Community Trust Co. during the 1st quarter worth approximately $103,000. Ergoteles LLC acquired a new stake in Creative Media & Community Trust Co. in the first quarter valued at $99,000. Finally, Charles Schwab Investment Management Inc. bought a new position in Creative Media & Community Trust Co. during the 1st quarter worth $78,000. 28.34% of the stock is owned by institutional investors.

About Creative Media & Community Trust Co.

Creative Media & Community Trust Corporation (formerly known as CIM Commercial 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.