Creative Media & Community Trust Co. (NASDAQ:CMCT) Announces Earnings Results, Misses Expectations By $0.86 EPS

by · The Cerbat Gem

Creative Media & Community Trust Co. (NASDAQ:CMCT – Get Free Report) posted its earnings results on Friday. The real estate investment trust reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.86), Zacks reports. The business had revenue of $28.62 million for the quarter. During the same period in the previous year, the firm posted ($0.30) EPS.

Creative Media & Community Trust Co. Price Performance

CMCT stock traded down $0.01 during midday trading on Monday, reaching $0.36. The company had a trading volume of 309,814 shares, compared to its average volume of 136,176. The firm has a 50-day moving average price of $1.00 and a 200-day moving average price of $2.04. The company has a market capitalization of $8.45 million, a P/E ratio of -0.13 and a beta of 0.56. Creative Media & Community Trust Co. has a 1 year low of $0.36 and a 1 year high of $4.40.

Creative Media & Community Trust Co. Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 25th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, September 25th. This represents a $0.16 annualized dividend and a yield of 44.04%. Creative Media & Community Trust Co.’s payout ratio is presently -5.56%.

Analysts Set New Price Targets

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

Get Our Latest Research Report on CMCT

Creative Media & Community Trust Co. Company Profile

(Get Free Report)

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.

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