Creative Media & Community Trust Co. (CMCT) to Issue Quarterly Dividend of $0.09 on April 22nd

Creative Media & Community Trust Co. (NASDAQ:CMCT) declared a quarterly dividend on Wednesday, March 27th, investing.com reports. Stockholders of record on Monday, April 8th will be paid 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 dividend 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% indicating that its dividend is sufficiently covered by earnings. Equities research 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

Shares of Creative Media & Community Trust Co. stock opened at $4.26 on Friday. The stock has a market cap of $97.09 million, a price-to-earnings ratio of -1.28 and a beta of 0.49. The stock has a 50 day moving average price of $3.59 and a 200-day moving average price of $3.80. Creative Media & Community Trust Co. has a one year low of $3.19 and a one year high of $5.80.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Creative Media & Community Trust Co. in a report on Thursday. They issued a “sell” rating for the company.

Institutional Investors Weigh In On Creative Media & Community Trust Co.

Institutional investors and hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. bought a new stake in shares of Creative Media & Community Trust Co. during the 1st quarter worth approximately $78,000. Jane Street Group LLC bought a new stake in shares of Creative Media & Community Trust Co. during the 1st quarter worth approximately $99,000. Ergoteles LLC bought a new stake in shares of Creative Media & Community Trust Co. during the 1st quarter worth approximately $99,000. Covestor Ltd bought a new stake in shares of Creative Media & Community Trust Co. during the 1st quarter worth approximately $103,000. Finally, Renaissance Technologies LLC lifted its stake in shares of 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 worth $121,000 after acquiring an additional 17,600 shares during the last quarter. 28.34% of the stock is owned by institutional investors.

Creative Media & Community Trust Co. Company Profile

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.