Creative Media & Community Trust Co. (NASDAQ:CMCT) Short Interest Up 13.9% in September

Creative Media & Community Trust Co. (NASDAQ:CMCT) saw a large increase in short interest in September. As of September 15th, there was short interest totalling 56,400 shares, an increase of 13.9% from the August 31st total of 49,500 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average trading volume of 17,500 shares, the days-to-cover ratio is presently 3.2 days.

Creative Media & Community Trust Co. Trading Down 12.5 %

Shares of NASDAQ CMCT opened at $0.63 on Friday. The stock has a market cap of $14.35 million, a P/E ratio of -0.19 and a beta of 0.58. The business’s fifty day simple moving average is $1.97 and its 200-day simple moving average is $2.75. Creative Media & Community Trust Co. has a 12-month low of $0.62 and a 12-month high of $4.40.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last issued its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.23). The business had revenue of $34.44 million during the quarter, compared to the consensus estimate of $33.12 million. During the same quarter last year, the business posted ($0.17) EPS. On average, equities analysts forecast that Creative Media & Community Trust Co. will post -1.24 EPS for the current fiscal year.

Creative Media & Community Trust Co. Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors 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 dividend on an annualized basis and a dividend yield of 25.42%. Creative Media & Community Trust Co.’s payout ratio is currently -10.24%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Presima Securities ULC purchased a new stake in Creative Media & Community Trust Co. during the fourth quarter worth approximately $258,000. Pale Fire Capital SE lifted its position in shares of 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 buying an additional 251,276 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Creative Media & Community Trust Co. by 13.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 65,190 shares of the real estate investment trust’s stock valued at $175,000 after buying an additional 7,863 shares in the last quarter. 28.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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