Creative Media & Community Trust Co. (NASDAQ:CMCT) Director Richard S. Ressler Buys 7,000 Shares

Creative Media & Community Trust Co. (NASDAQ:CMCT – Get Rating) Director Richard S. Ressler purchased 7,000 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were purchased at an average price of $5.07 per share, for a total transaction of $35,490.00. Following the purchase, the director now owns 9,126,645 shares of the company’s stock, valued at approximately $46,272,090.15. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Creative Media & Community Trust Co. Price Performance

Shares of CMCT stock opened at $5.10 on Friday. The stock’s 50-day moving average is $4.49 and its 200 day moving average is $5.09. Creative Media & Community Trust Co. has a 1-year low of $3.89 and a 1-year high of $7.68. The company has a debt-to-equity ratio of 48.70, a current ratio of 3.32 and a quick ratio of 3.32. The company has a market cap of $115.97 million, a P/E ratio of -3.26 and a beta of 0.52.

Creative Media & Community Trust Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 11th. Stockholders of record on Thursday, March 30th were issued a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 6.67%. The ex-dividend date was Wednesday, March 29th. Creative Media & Community Trust Co.’s dividend payout ratio is currently -21.94%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. purchased a new stake in Creative Media & Community Trust Co. during the first quarter valued at approximately $78,000. Jane Street Group LLC acquired a new stake in shares of Creative Media & Community Trust Co. in the 1st quarter worth $99,000. Ergoteles LLC purchased a new position in Creative Media & Community Trust Co. during the 1st quarter worth $99,000. Covestor Ltd acquired a new position in Creative Media & Community Trust Co. during the 1st quarter valued at about $103,000. Finally, Renaissance Technologies LLC increased its position in 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 valued at $121,000 after buying an additional 17,600 shares in the last quarter. Hedge funds and other institutional investors own 25.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CMCT. StockNews.com started coverage on shares of Creative Media & Community Trust Co. in a research report on Thursday, May 18th. They set a “sell” rating on the stock. EF Hutton Acquisition Co. I lifted their price objective on shares of Creative Media & Community Trust Co. from $5.00 to $7.00 and gave the company a “buy” rating in a report on Monday, April 17th.

About Creative Media & Community Trust Co.

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Creative Media & Community Trust Corp. is a real estate investment trust that seeks to own, operate, and develop premier multifamily and creative office assets in vibrant and emerging communities throughout the United States. It operates through the following segments: Office, Hotel, and Lending. The Office segment consists of the rental of office space and other tenant services, including tenant reimbursements, parking, and storage space rental.