B. Riley Comments on Creative Media & Community Trust Co.’s Q1 2024 Earnings (NASDAQ:CMCT)

Creative Media & Community Trust Co. (NASDAQ:CMCT) – Research analysts at B. Riley issued their Q1 2024 earnings per share (EPS) estimates for shares of Creative Media & Community Trust Co. in a research report issued to clients and investors on Wednesday, April 10th. B. Riley analyst J. Massocca anticipates that the real estate investment trust will post earnings per share of ($0.32) for the quarter. B. Riley has a “Neutral” rating and a $4.00 price target on the stock. The consensus estimate for Creative Media & Community Trust Co.’s current full-year earnings is ($0.74) per share. B. Riley also issued estimates for Creative Media & Community Trust Co.’s Q2 2024 earnings at ($0.28) EPS, Q3 2024 earnings at ($0.37) EPS, Q4 2024 earnings at ($0.37) EPS, FY2024 earnings at ($1.24) EPS and FY2025 earnings at ($1.39) EPS.

Separately, StockNews.com assumed coverage on Creative Media & Community Trust Co. in a research note on Saturday. They issued a “sell” rating on the stock.

Creative Media & Community Trust Co. Trading Down 3.8 %

Shares of CMCT opened at $3.75 on Monday. The business’s 50-day moving average price is $3.69 and its 200 day moving average price is $3.78. The stock has a market capitalization of $85.45 million, a P/E ratio of -1.12 and a beta of 0.51. Creative Media & Community Trust Co. has a 1-year low of $3.19 and a 1-year high of $5.80.

Creative Media & Community Trust Co. Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be given a dividend of $0.085 per share. The ex-dividend date is Friday, April 5th. This represents a $0.34 dividend on an annualized basis and a yield of 9.07%. Creative Media & Community Trust Co.’s payout ratio is presently -10.18%.

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

Institutional investors have recently bought and sold shares of the business. Arkadios Wealth Advisors acquired a new stake in Creative Media & Community Trust Co. during the 4th quarter worth about $39,000. First Foundation Advisors boosted its position in Creative Media & Community Trust Co. by 3.1% during the 3rd quarter. First Foundation Advisors now owns 390,127 shares of the real estate investment trust’s stock worth $1,580,000 after acquiring an additional 11,612 shares during the period. Yelin Lapidot Holdings Management Ltd. acquired a new stake in Creative Media & Community Trust Co. during the 3rd quarter worth about $1,273,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Creative Media & Community Trust Co. during the 3rd quarter worth about $4,550,000. Finally, Renaissance Technologies LLC boosted its position in Creative Media & Community Trust Co. by 84.6% during the 2nd quarter. Renaissance Technologies LLC now owns 55,000 shares of the real estate investment trust’s stock worth $274,000 after acquiring an additional 25,200 shares during the period. 28.34% of the stock is currently owned by institutional investors and hedge funds.

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.