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

StockNews.com started coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT) in a research note released on Thursday morning. The firm 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 note on Thursday, April 11th. They issued a neutral rating and a $4.00 price objective on the stock.

Creative Media & Community Trust Co. Stock Performance

Creative Media & Community Trust Co. stock opened at $2.97 on Thursday. The business’s 50-day simple moving average is $3.50 and its 200-day simple moving average is $3.61. Creative Media & Community Trust Co. has a 52 week low of $2.84 and a 52 week high of $5.54. The firm has a market capitalization of $67.69 million, a PE ratio of -0.89 and a beta of 0.55.

Creative Media & Community Trust Co. Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were given a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 11.45%. The ex-dividend date of this dividend was Friday, April 5th. Creative Media & Community Trust Co.’s dividend payout ratio (DPR) is presently -10.24%.

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

Large investors have recently added to or reduced their stakes in the company. Pale Fire Capital SE grew its holdings in shares of 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 worth $1,607,000 after purchasing an additional 251,276 shares in the last quarter. First Foundation Advisors boosted its stake 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. Presima Securities ULC bought a new stake in Creative Media & Community Trust Co. in the 4th quarter valued at $258,000. Victory Capital Management Inc. acquired a new position in shares of Creative Media & Community Trust Co. in the 4th quarter valued at $70,000. Finally, Arkadios Wealth Advisors acquired a new position in shares of Creative Media & Community Trust Co. in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 28.34% of the company’s stock.

Creative Media & Community Trust Co. Company Profile

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.