StockNews.com started coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT – Free Report) in a research note issued to investors on Tuesday. The brokerage 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 research report on Thursday, April 11th. They issued a neutral rating and a $4.00 target price for the company.
Get Our Latest Analysis on Creative Media & Community Trust Co.
Creative Media & Community Trust Co. Trading Up 1.3 %
Creative Media & Community Trust Co. Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were given a $0.085 dividend. This represents a $0.34 annualized dividend and a yield of 11.15%. 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 large investors have recently made changes to their positions in CMCT. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Creative Media & Community Trust Co. during the third quarter valued at approximately $4,550,000. Yelin Lapidot Holdings Management Ltd. bought a new position in shares of Creative Media & Community Trust Co. in the third quarter valued at $1,273,000. First Foundation Advisors lifted its position in shares of Creative Media & Community Trust Co. by 3.1% during 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 acquiring an additional 11,612 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in shares of Creative Media & Community Trust Co. during the 4th quarter worth $39,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Creative Media & Community Trust Co. in the 4th quarter worth $70,000. Institutional investors own 28.34% of the company’s stock.
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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