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

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 annualized dividend and a yield of 7.98%. The ex-dividend date is Friday, April 5th.

Creative Media & Community Trust Co. has raised its dividend 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. 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 Up 1.4 %

CMCT opened at $4.26 on Friday. The company has a market cap of $97.09 million, a price-to-earnings ratio of -1.28 and a beta of 0.49. Creative Media & Community Trust Co. has a 52-week low of $3.19 and a 52-week high of $5.80. The firm’s fifty day simple moving average is $3.59 and its two-hundred day simple moving average is $3.80.

Hedge Funds Weigh In On Creative Media & Community Trust Co.

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

Wall Street Analysts Forecast Growth

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