Cerity Partners LLC Invests $1.40 Million in Creative Media & Community Trust Co. (NASDAQ:CMCT)

Cerity Partners LLC bought a new stake in Creative Media & Community Trust Co. (NASDAQ:CMCT) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,841,736 shares of the real estate investment trust’s stock, valued at approximately $1,397,000. Cerity Partners LLC owned about 12.22% of Creative Media & Community Trust Co. as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arkadios Wealth Advisors acquired a new position in shares of Creative Media & Community Trust Co. in the 3rd quarter valued at $548,000. PFG Investments LLC acquired a new position in Creative Media & Community Trust Co. in the third quarter valued at about $266,000. Sequoia Financial Advisors LLC acquired a new position in Creative Media & Community Trust Co. in the third quarter valued at about $65,000. Carnegie Investment Counsel purchased a new position in Creative Media & Community Trust Co. during the third quarter worth about $50,000. Finally, Calton & Associates Inc. acquired a new stake in shares of Creative Media & Community Trust Co. during the third quarter valued at about $47,000. 28.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Creative Media & Community Trust Co. Price Performance

CMCT stock opened at $0.30 on Wednesday. The business’s 50-day moving average is $0.44 and its two-hundred day moving average is $1.70. The firm has a market capitalization of $25.76 million, a P/E ratio of -0.10 and a beta of 0.45. Creative Media & Community Trust Co. has a 1 year low of $0.21 and a 1 year high of $4.40. The company has a debt-to-equity ratio of 438.44, a current ratio of 2.71 and a quick ratio of 2.71.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last announced its quarterly earnings data on Friday, November 8th. The real estate investment trust reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.86). The business had revenue of $28.62 million for the quarter. During the same period in the prior year, the firm posted ($0.30) EPS. Analysts anticipate that Creative Media & Community Trust Co. will post -1.22 earnings per share for the current fiscal year.

Creative Media & Community Trust Co. Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 25th were paid a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, September 25th. This represents a $0.16 annualized dividend and a yield of 53.84%. Creative Media & Community Trust Co.’s dividend payout ratio is presently -5.56%.

Creative Media & Community Trust Co. Profile

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.