Creative Media & Community Trust Corporation (NASDAQ:CMCT – Get Free Report) was the target of a large drop in short interest in May. As of May 29th, there was short interest totaling 48,927 shares, a drop of 37.8% from the May 14th total of 78,706 shares. Based on an average daily volume of 30,547 shares, the days-to-cover ratio is currently 1.6 days. Approximately 203.9% of the shares of the stock are sold short.
Analyst Ratings Changes
CMCT has been the topic of a number of research reports. Zacks Research raised shares of Creative Media & Community Trust Corporation to a “hold” rating in a research note on Friday, June 5th. Wall Street Zen lowered shares of Creative Media & Community Trust Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Creative Media & Community Trust Corporation has an average rating of “Reduce”.
Read Our Latest Research Report on CMCT
Creative Media & Community Trust Corporation Stock Down 5.6%
Creative Media & Community Trust Corporation (NASDAQ:CMCT – Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The real estate investment trust reported ($70.52) earnings per share (EPS) for the quarter. The firm had revenue of $29.42 million for the quarter. Creative Media & Community Trust Corporation had a negative return on equity of 226.47% and a negative net margin of 36.20%. On average, equities research analysts predict that Creative Media & Community Trust Corporation will post -145.4 earnings per share for the current year.
Institutional Trading of Creative Media & Community Trust Corporation
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cerity Partners LLC acquired a new stake in shares of Creative Media & Community Trust Corporation during the 2nd quarter worth approximately $90,000. Arkadios Wealth Advisors acquired a new stake in Creative Media & Community Trust Corporation in the 4th quarter valued at approximately $43,000. Kestra Advisory Services LLC acquired a new stake in Creative Media & Community Trust Corporation in the 4th quarter valued at approximately $52,000. Morton Capital Management LLC CA acquired a new stake in Creative Media & Community Trust Corporation in the 4th quarter valued at approximately $54,000. Finally, Virtu Financial LLC acquired a new stake in Creative Media & Community Trust Corporation in the 4th quarter valued at approximately $55,000. Institutional investors and hedge funds own 28.34% of the company’s stock.
Creative Media & Community Trust Corporation Company Profile
Creative Media & Community Trust Corporation is a real estate investment trust (REIT) that specializes in originating and acquiring first-lien mortgage loans on non-owner-occupied residential properties in the United States. The company focuses on providing capital to real estate investors and rental homeowners, offering financing solutions tailored to single-family homes, small multifamily properties and other residential real estate investments. Its business model centers on underwriting, closing and servicing mortgage loans that help facilitate real estate acquisitions, refinancings and portfolio expansions for its clients.
The company’s loan portfolio is diversified across key U.S.
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