Creative Media & Community Trust Co. (NASDAQ:CMCT) to Issue Quarterly Dividend of $0.09

Creative Media & Community Trust Co. (NASDAQ:CMCT) announced a quarterly dividend on Wednesday, March 27th, investing.com reports. Investors of record on Monday, April 8th will be paid a dividend of 0.085 per share by the real estate investment trust on Monday, April 22nd. This represents a $0.34 dividend on an annualized basis and a dividend yield of 7.98%. The ex-dividend date is Friday, April 5th.

Creative Media & Community Trust Co. has increased its dividend by an average of 4.3% per year 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. Equities 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. Price Performance

Shares of CMCT stock opened at $4.26 on Friday. The company’s 50-day simple moving average is $3.59 and its two-hundred day simple moving average is $3.80. The company has a market capitalization of $97.09 million, a P/E ratio of -1.28 and a beta of 0.49. Creative Media & Community Trust Co. has a one year low of $3.19 and a one year high of $5.80.

Institutional Trading of Creative Media & Community Trust Co.

A number of hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in Creative Media & Community Trust Co. by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 96,084 shares of the real estate investment trust’s stock valued at $744,000 after purchasing an additional 1,632 shares during the last quarter. State Street Corp raised its stake in Creative Media & Community Trust Co. by 4.3% in the first quarter. State Street Corp now owns 61,364 shares of the real estate investment trust’s stock valued at $480,000 after buying an additional 2,533 shares in the last quarter. Bank of New York Mellon Corp increased its position in Creative Media & Community Trust Co. by 6.2% during the first quarter. Bank of New York Mellon Corp now owns 48,580 shares of the real estate investment trust’s stock worth $376,000 after buying an additional 2,848 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Creative Media & Community Trust Co. by 179.8% during the first quarter. Renaissance Technologies LLC now owns 45,442 shares of the real estate investment trust’s stock worth $352,000 after buying an additional 29,202 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new position in shares of Creative Media & Community Trust Co. in the fourth quarter valued at approximately $157,000. 28.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

About Creative Media & Community Trust Co.

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.