Creative Media & Community Trust Co. (CMCT) to Issue Quarterly Dividend of $0.09 on April 22nd

Creative Media & Community Trust Co. (NASDAQ:CMCTGet Free Report) declared a quarterly dividend on Wednesday, March 27th, investing.com reports. Stockholders of record on Monday, April 8th will be given a dividend of 0.085 per share by the real estate investment trust on Monday, April 22nd. This represents a $0.34 annualized dividend and a dividend yield of 8.10%. The ex-dividend date is Friday, April 5th.

Creative Media & Community Trust Co. has raised its dividend by an average of 4.3% annually over the last three years. Creative Media & Community Trust Co. has a dividend payout ratio of 9.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Creative Media & Community Trust Co. to earn $0.34 per share next year, which means the company may not be able to cover its $0.34 annual dividend with an expected future payout ratio of 100.0%.

Creative Media & Community Trust Co. Stock Performance

Creative Media & Community Trust Co. stock opened at $4.20 on Wednesday. The stock has a market cap of $95.72 million, a P/E ratio of -1.26 and a beta of 0.51. Creative Media & Community Trust Co. has a fifty-two week low of $3.19 and a fifty-two week high of $5.80. The firm’s fifty day moving average price is $3.63 and its 200-day moving average price is $3.79.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Creative Media & Community Trust Co. in a research report on Thursday, March 28th. They set a “sell” rating for the company.

Check Out Our Latest Analysis on CMCT

Hedge Funds Weigh In On Creative Media & Community Trust Co.

Several large investors have recently made changes to their positions in CMCT. Charles Schwab Investment Management Inc. purchased a new position in shares of Creative Media & Community Trust Co. during the first quarter valued at approximately $78,000. Ergoteles LLC purchased a new position in Creative Media & Community Trust Co. in the 1st quarter worth approximately $99,000. Jane Street Group LLC purchased a new position in Creative Media & Community Trust Co. in the 1st quarter worth approximately $99,000. Covestor Ltd purchased a new position in Creative Media & Community Trust Co. in the 1st quarter worth approximately $103,000. Finally, Renaissance Technologies LLC raised its holdings in Creative Media & Community Trust Co. by 144.3% in the 1st quarter. Renaissance Technologies LLC now owns 29,800 shares of the real estate investment trust’s stock worth $121,000 after acquiring an additional 17,600 shares during the last quarter. 28.34% of the stock is currently owned by hedge funds and other institutional investors.

About Creative Media & Community Trust Co.

(Get Free Report)

Creative Media & Community Trust Corporation (formerly known as CIM Commercial 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.

Further Reading

Dividend History for Creative Media & Community Trust Co. (NASDAQ:CMCT)

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