StockNews.com initiated coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT - Free Report) in a report released on Saturday morning. The brokerage issued a sell rating on the real estate investment trust's stock.
Separately, B. Riley began coverage on shares of Creative Media & Community Trust Co. in a report on Thursday. They issued a neutral rating and a $4.00 target price on the stock.
View Our Latest Stock Analysis on Creative Media & Community Trust Co.
Creative Media & Community Trust Co. Price Performance
CMCT traded up $0.04 during mid-day trading on Friday, hitting $3.90. The stock had a trading volume of 541 shares, compared to its average volume of 7,912. The stock's fifty day simple moving average is $3.69 and its 200-day simple moving average is $3.78. The firm has a market capitalization of $88.88 million, a price-to-earnings ratio of -1.17 and a beta of 0.51. Creative Media & Community Trust Co. has a 1-year low of $3.19 and a 1-year high of $5.80.
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 issued 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 8.72%. Creative Media & Community Trust Co.'s dividend payout ratio (DPR) is presently -10.18%.
Institutional Investors Weigh In On Creative Media & Community Trust Co.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Arkadios Wealth Advisors acquired a new stake in shares of Creative Media & Community Trust Co. during the fourth quarter worth $39,000. First Foundation Advisors increased its stake in Creative Media & Community Trust Co. by 3.1% in the 3rd quarter. First Foundation Advisors now owns 390,127 shares of the real estate investment trust's stock valued at $1,580,000 after buying an additional 11,612 shares during the last quarter. Yelin Lapidot Holdings Management Ltd. acquired a new stake in Creative Media & Community Trust Co. in the 3rd quarter valued at $1,273,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Creative Media & Community Trust Co. in the 3rd quarter valued at $4,550,000. Finally, Susquehanna International Group LLP acquired a new stake in Creative Media & Community Trust Co. in the 4th quarter valued at $157,000. 28.34% of the stock is currently owned by institutional investors and hedge funds.
Creative Media & Community Trust Co. Company Profile
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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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