Equities Analysts Issue Forecasts for Creative Media & Community Trust Co.’s Q1 2024 Earnings (NASDAQ:CMCT)

Creative Media & Community Trust Co. (NASDAQ:CMCT) – Equities researchers at B. Riley issued their Q1 2024 earnings estimates for Creative Media & Community Trust Co. in a research report issued to clients and investors on Wednesday, April 10th. B. Riley analyst J. Massocca forecasts that the real estate investment trust will earn ($0.32) per share for the quarter. B. Riley currently has a “Neutral” rating and a $4.00 target price on the stock. The consensus estimate for Creative Media & Community Trust Co.’s current full-year earnings is ($0.74) per share. B. Riley also issued estimates for Creative Media & Community Trust Co.’s Q2 2024 earnings at ($0.28) EPS, Q3 2024 earnings at ($0.37) EPS, Q4 2024 earnings at ($0.37) EPS, FY2024 earnings at ($1.24) EPS and FY2025 earnings at ($1.39) EPS.

Separately, StockNews.com began coverage on shares of Creative Media & Community Trust Co. in a report on Saturday. They issued a “sell” rating for the company.

Creative Media & Community Trust Co. Stock Down 4.8 %

Shares of NASDAQ CMCT opened at $3.56 on Monday. Creative Media & Community Trust Co. has a 12-month low of $3.19 and a 12-month high of $5.80. The firm has a market cap of $81.13 million, a PE ratio of -1.07 and a beta of 0.51. The company’s fifty day simple moving average is $3.69 and its 200 day simple moving average is $3.78.

Creative Media & Community Trust Co. Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be issued a $0.085 dividend. The ex-dividend date of this dividend is Friday, April 5th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 9.55%. Creative Media & Community Trust Co.’s payout ratio is -10.18%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CMCT. Bank of New York Mellon Corp increased its position in Creative Media & Community Trust Co. by 6.2% during the 1st quarter. Bank of New York Mellon Corp now owns 48,580 shares of the real estate investment trust’s stock valued at $376,000 after purchasing an additional 2,848 shares during the period. Dimensional Fund Advisors LP boosted its stake 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 worth $744,000 after purchasing an additional 1,632 shares in the last quarter. Covestor Ltd bought a new position in Creative Media & Community Trust Co. in the 1st quarter worth about $103,000. Ergoteles LLC bought a new position in Creative Media & Community Trust Co. in the 1st quarter worth about $99,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of Creative Media & Community Trust Co. during the 1st quarter valued at about $78,000. 28.34% of the stock is owned by hedge funds and other institutional investors.

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.