StockNews.com began coverage on shares of Creative Media & Community Trust Co. (NASDAQ:CMCT – Free Report) in a report released on Monday. The brokerage issued a sell rating on the real estate investment trust’s stock.
Separately, B. Riley assumed coverage on Creative Media & Community Trust Co. in a research report on Thursday, April 11th. They issued a neutral rating and a $4.00 target price on the stock.
Get Our Latest Report on Creative Media & Community Trust Co.
Creative Media & Community Trust Co. Price Performance
Creative Media & Community Trust Co. Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were given a $0.085 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $0.34 annualized dividend and a yield of 10.15%. Creative Media & Community Trust Co.’s payout ratio is -10.18%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of CMCT. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Creative Media & Community Trust Co. in the third quarter worth about $4,550,000. Yelin Lapidot Holdings Management Ltd. purchased a new position in Creative Media & Community Trust Co. in the third quarter worth about $1,273,000. First Foundation Advisors raised its stake in shares of Creative Media & Community Trust Co. by 3.1% in the third quarter. First Foundation Advisors now owns 390,127 shares of the real estate investment trust’s stock worth $1,580,000 after buying an additional 11,612 shares during the period. Arkadios Wealth Advisors bought a new position in shares of Creative Media & Community Trust Co. in the fourth quarter worth about $39,000. Finally, Victory Capital Management Inc. bought a new position in shares of Creative Media & Community Trust Co. in the fourth quarter worth about $70,000. 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 (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.
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