StockNews.com began coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT – Free Report) in a research note published on Sunday morning. The brokerage issued a sell rating on the real estate investment trust’s stock.
Separately, B. Riley began coverage on Creative Media & Community Trust Co. in a research report on Thursday, April 11th. They set a neutral rating and a $4.00 price target on the stock.
Check Out Our Latest Research Report on Creative Media & Community Trust Co.
Creative Media & Community Trust Co. Stock Performance
Creative Media & Community Trust Co. Cuts Dividend
The business also recently declared 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 annualized dividend and a yield of 10.09%. The ex-dividend date of this dividend was Friday, April 5th. Creative Media & Community Trust Co.’s dividend payout ratio (DPR) is presently -10.18%.
Hedge Funds Weigh In On Creative Media & Community Trust Co.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pale Fire Capital SE lifted its position 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 worth $1,607,000 after acquiring an additional 251,276 shares in the last quarter. Presima Securities ULC acquired a new position in shares of Creative Media & Community Trust Co. in the 4th quarter valued at approximately $258,000. Victory Capital Management Inc. acquired a new position in shares of Creative Media & Community Trust Co. in the 4th quarter valued at approximately $70,000. Arkadios Wealth Advisors acquired a new position in shares of Creative Media & Community Trust Co. in the 4th quarter valued at approximately $39,000. Finally, First Foundation Advisors raised its position in shares of 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 purchasing an additional 11,612 shares in the last quarter. 28.34% of the stock is owned by institutional investors and hedge funds.
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.
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