StockNews.com initiated coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT – Free Report) in a research report report published on Monday. 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 issued a neutral rating and a $4.00 price target for the company.
Read Our Latest Research Report on Creative Media & Community Trust Co.
Creative Media & Community Trust Co. Stock Down 1.1 %
Creative Media & Community Trust Co. Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were paid a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a yield of 12.73%. The ex-dividend date of this dividend was Friday, April 5th. Creative Media & Community Trust Co.’s payout ratio is -10.24%.
Institutional Investors Weigh In On Creative Media & Community Trust Co.
Several hedge funds and other institutional investors have recently made changes to their positions in CMCT. Pale Fire Capital SE grew its holdings 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 valued at $1,607,000 after purchasing an additional 251,276 shares during the last quarter. Presima Securities ULC purchased a new position in shares of Creative Media & Community Trust Co. during the fourth quarter valued at approximately $258,000. Victory Capital Management Inc. bought a new position in shares of Creative Media & Community Trust Co. during the fourth quarter valued at approximately $70,000. First Foundation Advisors raised its holdings in shares of Creative Media & Community Trust Co. by 3.1% in 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 during the period. Finally, Arkadios Wealth Advisors bought a new stake in shares of Creative Media & Community Trust Co. during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors 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.
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