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.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northern Trust Corp boosted its position in shares of CIM Commercial Trust by 8.3% in the 2nd quarter. Northern Trust Corp now owns 21,243 shares of the real estate investment trust’s stock valued at $337,000 after purchasing an additional 1,620 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of CIM Commercial Trust by 76.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 50,692 shares of the real estate investment trust’s stock valued at $852,000 after purchasing an additional 21,942 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of CIM Commercial Trust by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 114,692 shares of the real estate investment trust’s stock valued at $1,824,000 after purchasing an additional 2,184 shares during the period. 1.14% of the stock is owned by hedge funds and other institutional investors.

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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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