CIM Commercial Trust (NASDAQ:CMCT) Lowered to “Buy” at BidaskClub

BidaskClub cut shares of CIM Commercial Trust (NASDAQ:CMCT) from a strong-buy rating to a buy rating in a report released on Friday, January 5th.

CIM Commercial Trust (NASDAQ CMCT) remained flat at $$18.50 during trading on Friday. The company had a trading volume of 2,900 shares, compared to its average volume of 7,567. The company has a debt-to-equity ratio of 1.10, a current ratio of 9.09 and a quick ratio of 9.09. CIM Commercial Trust has a one year low of $15.10 and a one year high of $20.45.

CIM Commercial Trust (NASDAQ:CMCT) last announced its earnings results on Thursday, November 9th. The real estate investment trust reported $1.25 earnings per share for the quarter. CIM Commercial Trust had a return on equity of 40.88% and a net margin of 143.13%.

The business also recently announced a special dividend, which was paid on Thursday, January 11th. Shareholders of record on Friday, December 29th were paid a $0.73 dividend. The ex-dividend date was Thursday, December 28th. This is an increase from CIM Commercial Trust’s previous special dividend of $0.28. This represents a dividend yield of 2.57%.

In other news, major shareholder Urban Partners Ii, Llc sold 14,090,909 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $22.00, for a total transaction of $309,999,998.00. Following the completion of the transaction, the insider now directly owns 41,627,739 shares in the company, valued at approximately $915,810,258. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 98.05% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in CMCT. Northern Trust Corp raised its position in shares of CIM Commercial Trust by 8.3% during the 2nd quarter. Northern Trust Corp now owns 21,243 shares of the real estate investment trust’s stock worth $337,000 after acquiring an additional 1,620 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in CIM Commercial Trust by 76.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 50,692 shares of the real estate investment trust’s stock worth $852,000 after buying an additional 21,942 shares during the period. Finally, Vanguard Group Inc. increased its position in CIM Commercial Trust by 1.9% during the second quarter. Vanguard Group Inc. now owns 114,692 shares of the real estate investment trust’s stock worth $1,824,000 after buying an additional 2,184 shares during the period. Institutional investors and hedge funds own 1.14% of the company’s stock.

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CIM Commercial Trust Company Profile

CIM Commercial Trust Corporation, together with its subsidiaries, primarily invests in, owns, and operates Class A and office investments in urban communities throughout the United States. These communities are located in areas that include traditional downtown areas and suburban main streets. The Company’s segments are office, hotel, multifamily and lending.

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