Creative Media & Community Trust Co. (NASDAQ:CMCT) Stock Passes Below Two Hundred Day Moving Average of $2.77

Creative Media & Community Trust Co. (NASDAQ:CMCT) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.77 and traded as low as $0.62. Creative Media & Community Trust Co. shares last traded at $0.63, with a volume of 1,412,372 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Creative Media & Community Trust Co. in a research note on Saturday. They set a “sell” rating on the stock.

Creative Media & Community Trust Co. Stock Performance

The company has a market cap of $14.34 million, a PE ratio of -0.19 and a beta of 0.58. The company has a 50 day simple moving average of $2.00 and a two-hundred day simple moving average of $2.77.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last posted its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.23). The firm had revenue of $34.44 million during the quarter, compared to analyst estimates of $33.12 million. During the same quarter in the previous year, the firm earned ($0.17) EPS. As a group, analysts expect that Creative Media & Community Trust Co. will post -1.24 earnings per share for the current fiscal year.

Creative Media & Community Trust Co. Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 25th will be paid a dividend of $0.04 per share. The ex-dividend date is Wednesday, September 25th. This represents a $0.16 annualized dividend and a dividend yield of 25.42%. Creative Media & Community Trust Co.’s dividend payout ratio (DPR) is currently -10.24%.

Institutional Trading of Creative Media & Community Trust Co.

A number of hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in Creative Media & Community Trust Co. by 13.7% in the second quarter. Dimensional Fund Advisors LP now owns 65,190 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 7,863 shares during the period. Presima Securities ULC acquired a new stake in shares of Creative Media & Community Trust Co. in the 4th quarter valued at about $258,000. Finally, Pale Fire Capital SE lifted its holdings in shares of Creative Media & Community Trust Co. by 136.4% in the fourth 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 in the last quarter. 28.34% of the stock is currently owned by institutional investors and hedge funds.

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.