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

Creative Media & Community Trust Co. (NASDAQ:CMCT) declared a quarterly dividend on Wednesday, March 27th, investing.com reports. Shareholders of record on Monday, April 8th will be given 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 yield of 7.98%. The ex-dividend date is Friday, April 5th.

Creative Media & Community Trust Co. has raised its dividend payment by an average of 4.3% annually 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. 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. Stock Performance

NASDAQ CMCT opened at $4.26 on Friday. Creative Media & Community Trust Co. has a 52-week low of $3.19 and a 52-week high of $5.80. The company has a fifty day moving average of $3.59 and a 200-day moving average of $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.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Creative Media & Community Trust Co. in a research note on Thursday. They set a “sell” rating on the stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. bought a new position in Creative Media & Community Trust Co. during the 1st quarter worth approximately $78,000. Jane Street Group LLC bought a new position in shares of Creative Media & Community Trust Co. in the first quarter worth approximately $99,000. Ergoteles LLC purchased a new position in shares of Creative Media & Community Trust Co. in the first quarter worth $99,000. Covestor Ltd bought a new stake in Creative Media & Community Trust Co. during the 1st quarter valued at $103,000. Finally, Renaissance Technologies LLC boosted its position in Creative Media & Community Trust Co. by 144.3% during the 1st quarter. Renaissance Technologies LLC now owns 29,800 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 17,600 shares during the period. Hedge funds and other institutional investors own 28.34% of the company’s stock.

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.