CIM Commercial Trust (NASDAQ:CMCT) Sees Unusually-High Trading Volume

CIM Commercial Trust Corp (NASDAQ:CMCT) saw an uptick in trading volume on Friday . 986,907 shares changed hands during trading, an increase of 704% from the previous session’s volume of 122,692 shares.The stock last traded at $14.65 and had previously closed at $14.57.

Separately, ValuEngine upgraded shares of CIM Commercial Trust from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 27th.

The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 3.24. The business’s 50 day moving average is $14.47 and its two-hundred day moving average is $16.68. The company has a market cap of $209.83 million, a PE ratio of -14.80 and a beta of 0.17.

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Thursday, December 12th. CIM Commercial Trust’s dividend payout ratio (DPR) is -30.30%.

In related news, CEO David Andrew Thompson purchased 7,500 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were acquired at an average price of $14.39 per share, for a total transaction of $107,925.00. Following the purchase, the chief executive officer now directly owns 7,500 shares in the company, valued at $107,925. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jan F. Salit purchased 12,507 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was bought at an average price of $14.58 per share, for a total transaction of $182,352.06. Following the purchase, the insider now owns 22,533 shares in the company, valued at $328,531.14. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 23,007 shares of company stock worth $333,687. 90.87% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its stake in CIM Commercial Trust by 32.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,205 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 781 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in CIM Commercial Trust by 284.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,497 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 1,108 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in CIM Commercial Trust by 94.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,420 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 1,177 shares in the last quarter. Northern Trust Corp lifted its stake in CIM Commercial Trust by 8.9% in the 2nd quarter. Northern Trust Corp now owns 20,635 shares of the real estate investment trust’s stock worth $426,000 after purchasing an additional 1,689 shares in the last quarter. Finally, Morgan Stanley lifted its stake in CIM Commercial Trust by 4,484.5% in the 2nd quarter. Morgan Stanley now owns 5,318 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 5,202 shares in the last quarter. Institutional investors and hedge funds own 43.11% of the company’s stock.

CIM Commercial Trust Company Profile (NASDAQ:CMCT)

CIM Commercial is a real estate investment trust that primarily acquires, owns, and operates Class A and creative office assets in vibrant and improving metropolitan communities throughout the United States. Its properties are primarily located in Los Angeles, the San Francisco Bay Area and Washington, DC CIM Commercial 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 onsite property management capabilities.

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