CIM Commercial Trust (CMCT) Downgraded to Sell at ValuEngine

ValuEngine lowered shares of CIM Commercial Trust (NASDAQ:CMCT) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

Shares of CMCT opened at $13.55 on Friday. CIM Commercial Trust has a 12 month low of $11.75 and a 12 month high of $20.45. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 1.72.

CIM Commercial Trust (NASDAQ:CMCT) last announced its earnings results on Thursday, August 9th. The real estate investment trust reported ($0.04) EPS for the quarter. CIM Commercial Trust had a return on equity of 20.56% and a net margin of 46.61%. The business had revenue of $51.56 million for the quarter.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 25th. Investors of record on Wednesday, September 5th will be paid a $0.125 dividend. The ex-dividend date is Tuesday, September 4th. This represents a $0.50 dividend on an annualized basis and a yield of 3.69%.

A hedge fund recently raised its stake in CIM Commercial Trust stock. Wedbush Securities Inc. boosted its position in CIM Commercial Trust Corp (NASDAQ:CMCT) by 16.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,732 shares of the real estate investment trust’s stock after acquiring an additional 5,041 shares during the quarter. Wedbush Securities Inc. owned 0.08% of CIM Commercial Trust worth $540,000 at the end of the most recent reporting period. 1.49% of the stock is currently owned by institutional investors and hedge funds.

About CIM Commercial Trust

CIM Commercial Trust is a real estate investment trust that primarily acquires, owns, and operates Class A and creative office assets in vibrant and improving urban communities throughout the United States. Its properties are primarily located in Los Angeles, the San Francisco Bay Area and Washington, DC CIM Commercial Trust is operated by affiliates of CIM Group, L.P., a vertically-integrated owner and operator of real assets with multi-disciplinary expertise and in-house research, acquisition, credit analysis, development, finance, leasing, and asset management capabilities.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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