Creative Media & Community Trust Corporation (NASDAQ:CMCT) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Creative Media & Community Trust Corporation (NASDAQ:CMCT)’s share price passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $3.69 and traded as high as $5.75. Creative Media & Community Trust Corporation shares last traded at $4.10, with a volume of 71,144 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CMCT. Weiss Ratings raised Creative Media & Community Trust Corporation from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday, October 14th. Wall Street Zen raised Creative Media & Community Trust Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Creative Media & Community Trust Corporation Stock Performance

The stock has a market cap of $8.64 million, a price-to-earnings ratio of -0.00 and a beta of 1.07. The stock’s 50 day moving average is $3.65 and its two-hundred day moving average is $4.15. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 2.80.

Creative Media & Community Trust Corporation (NASDAQ:CMCT) last issued its quarterly earnings data on Friday, August 14th. The real estate investment trust reported ($4.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.11) by ($0.92). The business had revenue of $29.68 million for the quarter, compared to analysts’ expectations of $28.10 million. Creative Media & Community Trust Corporation had a negative return on equity of 60.85% and a negative net margin of 36.99%. Analysts anticipate that Creative Media & Community Trust Corporation will post -6.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Creative Media & Community Trust Corporation

An institutional investor recently bought a new stake in Creative Media & Community Trust Corporation stock. Blackhawk Capital Partners LLC purchased a new stake in Creative Media & Community Trust Corporation (NASDAQ:CMCT) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 576,519 shares of the real estate investment trust’s stock, valued at approximately $354,000. Blackhawk Capital Partners LLC owned 2,135.26% of Creative Media & Community Trust Corporation as of its most recent SEC filing. 28.34% of the stock is currently owned by institutional investors and hedge funds.

About Creative Media & Community Trust Corporation

Creative Media & Community Trust Corporation (NASDAQ:CMCT) is a real estate investment trust (REIT) that owns and operates a diversified portfolio of income-producing commercial real estate. Its investments have included office, multifamily, hotel, retail and industrial properties, with a focus on properties in major metropolitan markets across the United States.

In addition to owning real estate, CMCT provides financing through commercial real estate loans and loans to small businesses, including lending conducted through the U.S.