StockNews.com initiated coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT – Free Report) in a research note released on Sunday. The brokerage issued a sell rating on the real estate investment trust’s stock.
Separately, B. Riley started coverage on shares of Creative Media & Community Trust Co. in a research report on Thursday, April 11th. They set a neutral rating and a $4.00 target price on the stock.
Check Out Our Latest Stock Analysis on Creative Media & Community Trust Co.
Creative Media & Community Trust Co. Price Performance
Creative Media & Community Trust Co. Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were paid a $0.085 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 9.77%. Creative Media & Community Trust Co.’s payout ratio is presently -10.18%.
Hedge Funds Weigh In On Creative Media & Community Trust Co.
A number of institutional investors have recently made changes to their positions in CMCT. Arkadios Wealth Advisors bought a new position in shares of Creative Media & Community Trust Co. in the fourth quarter worth about $39,000. Victory Capital Management Inc. acquired a new stake in Creative Media & Community Trust Co. during the fourth quarter worth about $70,000. Presima Securities ULC acquired a new stake in Creative Media & Community Trust Co. during the fourth quarter worth about $258,000. Yelin Lapidot Holdings Management Ltd. acquired a new stake in Creative Media & Community Trust Co. during the third quarter worth about $1,273,000. Finally, First Foundation Advisors grew its position in Creative Media & Community Trust Co. by 3.1% during the third quarter. First Foundation Advisors now owns 390,127 shares of the real estate investment trust’s stock worth $1,580,000 after buying an additional 11,612 shares in the last quarter. 28.34% of the stock is currently owned by institutional investors.
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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