Creative Media & Community Trust Co. (NASDAQ:CMCT) Short Interest Up 44.7% in October

Creative Media & Community Trust Co. (NASDAQ:CMCT) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 106,900 shares, an increase of 44.7% from the October 15th total of 73,900 shares. Based on an average trading volume of 430,600 shares, the days-to-cover ratio is currently 0.2 days.

Creative Media & Community Trust Co. Stock Performance

Shares of CMCT traded down $0.03 during mid-day trading on Friday, hitting $0.28. The stock had a trading volume of 439,576 shares, compared to its average volume of 149,267. The company has a market cap of $6.46 million, a PE ratio of -0.10 and a beta of 0.56. The company’s fifty day simple moving average is $0.84 and its two-hundred day simple moving average is $1.95. The company has a quick ratio of 3.49, a current ratio of 2.71 and a debt-to-equity ratio of 438.44. Creative Media & Community Trust Co. has a fifty-two week low of $0.28 and a fifty-two week high of $4.40.

Creative Media & Community Trust Co. (NASDAQ:CMCT) last released its quarterly earnings data on Friday, November 8th. The real estate investment trust reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.86). The company had revenue of $28.62 million during the quarter. During the same quarter last year, the company posted ($0.30) earnings per share. On average, equities analysts expect that Creative Media & Community Trust Co. will post -1.22 earnings per share for the current year.

Creative Media & Community Trust Co. Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 25th were given a dividend of $0.04 per share. The ex-dividend date was Wednesday, September 25th. This represents a $0.16 dividend on an annualized basis and a yield of 57.55%. Creative Media & Community Trust Co.’s dividend payout ratio is currently -5.56%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cerity Partners LLC acquired a new position in Creative Media & Community Trust Co. during the 3rd quarter valued at approximately $1,397,000. Stonebridge Financial Planning Group LLC acquired a new position in Creative Media & Community Trust Co. during the 3rd quarter valued at approximately $39,000. PFG Investments LLC bought a new stake in Creative Media & Community Trust Co. during the 3rd quarter valued at $266,000. Arkadios Wealth Advisors bought a new stake in Creative Media & Community Trust Co. during the 3rd quarter valued at $548,000. Finally, International Assets Investment Management LLC bought a new stake in Creative Media & Community Trust Co. during the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 28.34% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Creative Media & Community Trust Co.

Creative Media & Community 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.