CIM Commercial Trust (CMCT) Rating Lowered to Buy at BidaskClub
CIM Commercial Trust (NASDAQ:CMCT) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Friday.
Shares of CIM Commercial Trust (CMCT) traded down $1.30 during midday trading on Friday, hitting $17.25. The company had a trading volume of 15,768 shares, compared to its average volume of 16,841. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 1.10. CIM Commercial Trust has a 1 year low of $15.10 and a 1 year high of $20.45.
In related news, major shareholder Urban Partners Ii, Llc sold 14,090,909 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $22.00, for a total value of $309,999,998.00. Following the completion of the sale, the insider now directly owns 41,627,739 shares of the company’s stock, valued at approximately $915,810,258. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 98.05% of the stock is owned by corporate insiders.
About CIM Commercial Trust
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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