CIM Commercial Trust Corporation (CMCT) Declares Quarterly Dividend of $0.13
CIM Commercial Trust Corporation (NASDAQ:CMCT) announced a quarterly dividend on Friday, September 8th, Wall Street Journal reports. Shareholders of record on Monday, September 18th will be paid a dividend of 0.125 per share by the real estate investment trust on Monday, September 25th. This represents a $0.50 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, September 15th.
Shares of CIM Commercial Trust Corporation (NASDAQ CMCT) traded up 8.11% during midday trading on Friday, reaching $18.00. 19,685 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $16.00 and a 200-day moving average of $16.02. CIM Commercial Trust Corporation has a 12-month low of $14.54 and a 12-month high of $20.40. The stock has a market capitalization of $1.04 billion, a P/E ratio of 5.15 and a beta of 0.21.
In other CIM Commercial Trust Corporation news, major shareholder Urban Partners Ii, Llc sold 26,181,818 shares of CIM Commercial Trust Corporation stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $22.00, for a total value of $575,999,996.00. Following the completion of the transaction, the insider now directly owns 55,718,648 shares of the company’s stock, valued at $1,225,810,256. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 98.20% of the stock is currently owned by insiders.
An institutional investor recently raised its position in CIM Commercial Trust Corporation stock. Northern Trust Corp lifted its stake in CIM Commercial Trust Corporation (NASDAQ:CMCT) by 8.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,243 shares of the real estate investment trust’s stock after acquiring an additional 1,620 shares during the quarter. Northern Trust Corp’s holdings in CIM Commercial Trust Corporation were worth $337,000 as of its most recent filing with the Securities & Exchange Commission. 0.69% of the stock is currently owned by institutional investors.
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Several brokerages have issued reports on CMCT. ValuEngine raised shares of CIM Commercial Trust Corporation from a “hold” rating to a “buy” rating in a report on Wednesday. TheStreet raised shares of CIM Commercial Trust Corporation from a “c” rating to a “b-” rating in a report on Wednesday, May 24th.
CIM Commercial Trust Corporation 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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