CIM Commercial Trust (NASDAQ:CMCT) Downgraded to Sell at BidaskClub

CIM Commercial Trust (NASDAQ:CMCT) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, January 26th.

Shares of CIM Commercial Trust (NASDAQ:CMCT) opened at $16.00 on Friday. The firm has a market capitalization of $928.87, a PE ratio of 3.42 and a beta of 0.04. CIM Commercial Trust has a 1 year low of $15.10 and a 1 year high of $20.45. 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 (NASDAQ:CMCT) last issued its quarterly earnings results on Thursday, November 9th. The real estate investment trust reported $1.25 EPS for the quarter. CIM Commercial Trust had a return on equity of 40.88% and a net margin of 143.13%.

In related news, major shareholder Urban Partners Ii, Llc sold 14,090,909 shares of the 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 transaction, the insider now owns 41,627,739 shares of the company’s stock, valued at $915,810,258. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 98.05% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake 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 valued at $1,824,000 after buying an additional 2,184 shares in the last quarter. Bank of New York Mellon Corp raised its stake in CIM Commercial Trust by 593.3% during the fourth quarter. Bank of New York Mellon Corp now owns 82,684 shares of the real estate investment trust’s stock valued at $1,579,000 after buying an additional 70,757 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in 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 valued at $1,037,000 after buying an additional 3,588 shares in the last quarter. Finally, Northern Trust Corp raised its stake in CIM Commercial Trust by 8.3% during the second quarter. Northern Trust Corp now owns 21,243 shares of the real estate investment trust’s stock valued at $337,000 after buying an additional 1,620 shares in the last quarter. Hedge funds and other institutional investors own 1.14% of the company’s stock.

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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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