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

Creative Media & Community Trust Co. (NASDAQ:CMCT) was the recipient of 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. Based on an average daily volume of 17,500 shares, the short-interest ratio is presently 3.2 days. Currently, 0.5% of the shares of the stock are sold short.

Creative Media & Community Trust Co. Trading Down 12.5 %

Shares of Creative Media & Community Trust Co. stock opened at $0.63 on Friday. Creative Media & Community Trust Co. has a twelve month low of $0.62 and a twelve month high of $4.40. The firm’s 50-day moving average price is $1.97 and its 200 day moving average price is $2.75. The firm has a market capitalization of $14.35 million, a PE ratio of -0.19 and a beta of 0.58.

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 the consensus estimate of ($0.20) by ($0.23). The company had revenue of $34.44 million during the quarter, compared to analysts’ expectations of $33.12 million. During the same period in the prior year, the company posted ($0.17) earnings per share. On average, sell-side analysts predict that Creative Media & Community Trust Co. will post -1.24 EPS for the current fiscal year.

Creative Media & Community Trust Co. Cuts Dividend

The firm also recently disclosed 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 of this dividend is Wednesday, September 25th. This represents a $0.16 annualized dividend and a yield of 25.42%. Creative Media & Community Trust Co.’s dividend payout ratio is presently -10.24%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CMCT. Pale Fire Capital SE raised its holdings 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 acquiring an additional 251,276 shares during the period. Presima Securities ULC acquired a new stake in Creative Media & Community Trust Co. during the fourth quarter worth about $258,000. Finally, Dimensional Fund Advisors LP raised its stake in Creative Media & Community Trust Co. by 13.7% during 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. 28.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.