StockNews.com began coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT – Free Report) in a report published on Saturday morning. The firm issued a sell rating on the real estate investment trust’s stock.
Separately, B. Riley assumed coverage on Creative Media & Community Trust Co. in a report on Thursday, April 11th. They issued a neutral rating and a $4.00 target price on the stock.
Get Our Latest Report on Creative Media & Community Trust Co.
Creative Media & Community Trust Co. Trading Down 4.8 %
Creative Media & Community Trust Co. Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be given a $0.085 dividend. The ex-dividend date of this dividend is Friday, April 5th. This represents a $0.34 annualized dividend and a yield of 9.55%. Creative Media & Community Trust Co.’s payout ratio is -10.18%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Creative Media & Community Trust Co. during the 3rd quarter valued at approximately $4,550,000. Yelin Lapidot Holdings Management Ltd. bought a new stake in Creative Media & Community Trust Co. during the 3rd quarter valued at approximately $1,273,000. Pale Fire Capital SE raised 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 valued at $1,607,000 after purchasing an additional 251,276 shares during the period. Presima Securities ULC bought a new stake in Creative Media & Community Trust Co. during the 4th quarter valued at approximately $258,000. Finally, Susquehanna International Group LLP bought a new stake in Creative Media & Community Trust Co. in the 4th quarter worth approximately $157,000. 28.34% of the stock is owned by hedge funds and other institutional investors.
Creative Media & Community Trust Co. Company Profile
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.
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