Creative Media & Community Trust Co. (NASDAQ:CMCT) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Creative Media & Community Trust Co. (NASDAQ:CMCTGet Rating) from a hold rating to a sell rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “CIM Commercial Trust Corporation is a real estate investment trust which principally acquires, owns, and operates Class A and creative office investments located primarily in Los Angeles and the San Francisco Bay Area. CIM Commercial Trust Corporation is operated by CIM Group, a vertically integrated, owner and operator of real assets with multi-disciplinary which includes in-house research, acquisition, credit analysis, development, finance, leasing and property management capabilities and its affiliates. CIM Commercial Trust Corporation is based in Dallas, United States. “

Separately, StockNews.com assumed coverage on shares of Creative Media & Community Trust Co. in a research note on Wednesday. They set a hold rating for the company.

Shares of NASDAQ:CMCT opened at $7.15 on Wednesday. The firm has a market cap of $167.09 million, a PE ratio of -6.16 and a beta of 0.53. The firm’s fifty day moving average is $7.62 and its 200-day moving average is $7.67. The company has a debt-to-equity ratio of 3.20, a quick ratio of 3.53 and a current ratio of 3.53. Creative Media & Community Trust Co. has a 52 week low of $6.50 and a 52 week high of $12.20.

Creative Media & Community Trust Co. (NASDAQ:CMCTGet Rating) last issued its quarterly earnings results on Wednesday, March 16th. The real estate investment trust reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). Creative Media & Community Trust Co. had a negative return on equity of 1.50% and a negative net margin of 0.93%. Sell-side analysts forecast that Creative Media & Community Trust Co. will post 0.53 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Saturday, March 19th were paid a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend was Thursday, March 17th. This is an increase from Creative Media & Community Trust Co.’s previous quarterly dividend of $0.08. Creative Media & Community Trust Co.’s dividend payout ratio (DPR) is currently -29.31%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its stake in Creative Media & Community Trust Co. by 223.2% during the second quarter. Royal Bank of Canada now owns 2,747 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 1,897 shares during the last quarter. Koshinski Asset Management Inc. bought a new position in Creative Media & Community Trust Co. during the first quarter worth $27,000. Goldman Sachs Group Inc. increased its stake in Creative Media & Community Trust Co. by 0.9% in the third quarter. Goldman Sachs Group Inc. now owns 431,293 shares of the real estate investment trust’s stock valued at $3,908,000 after purchasing an additional 3,826 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Creative Media & Community Trust Co. in the fourth quarter valued at $36,000. Finally, Bank of America Corp DE increased its stake in Creative Media & Community Trust Co. by 88.4% in the second quarter. Bank of America Corp DE now owns 13,782 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 6,468 shares in the last quarter. 65.39% of the stock is owned by institutional investors and hedge funds.

Creative Media & Community Trust Co. Company Profile (Get Rating)

Creative Media & Community Trust Corporation is a real estate investment trust that primarily acquires, owns, and operates Class A and creative office assets in vibrant and improving metropolitan communities throughout the United States (including improving and developing such assets). Its properties are primarily located in Los Angeles and the San Francisco Bay Area.

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