BidaskClub Lowers CIM Commercial Trust (CMCT) to Sell

CIM Commercial Trust (NASDAQ:CMCT) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.

Shares of CIM Commercial Trust (CMCT) traded up $0.15 during mid-day trading on Friday, reaching $17.05. 10,363 shares of the company’s stock were exchanged, compared to its average volume of 6,195. The company has a debt-to-equity ratio of 1.10, a quick ratio of 9.09 and a current ratio of 9.09. CIM Commercial Trust has a 1 year low of $15.10 and a 1 year high of $20.45.

CIM Commercial Trust (NASDAQ:CMCT) last announced its quarterly 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 net margin of 143.13% and a return on equity of 40.88%.

In other news, major shareholder Urban Partners Ii, Llc sold 14,090,909 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $22.00, for a total transaction of $309,999,998.00. Following the transaction, the insider now directly owns 41,627,739 shares of the company’s stock, valued at $915,810,258. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 98.05% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. lifted its position in shares of CIM Commercial Trust by 7.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 54,280 shares of the real estate investment trust’s stock worth $1,037,000 after purchasing an additional 3,588 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of CIM Commercial Trust by 1.9% in 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 last quarter. Finally, Northern Trust Corp increased its stake in shares of CIM Commercial Trust by 8.3% in the second quarter. Northern Trust Corp now owns 21,243 shares of the real estate investment trust’s stock worth $337,000 after buying an additional 1,620 shares during the last quarter. 1.14% of the stock is currently owned by institutional investors and hedge funds.

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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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