CIM Commercial Trust (NASDAQ:CMCT) Rating Lowered to C+ at TheStreet

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TheStreet downgraded shares of CIM Commercial Trust (NASDAQ:CMCT) from a b- rating to a c+ rating in a research report sent to investors on Thursday morning, TheStreetRatingsTable reports.

Separately, BidaskClub downgraded shares of CIM Commercial Trust from a buy rating to a hold rating in a research report on Saturday, August 24th.

NASDAQ:CMCT opened at $16.13 on Thursday. The firm’s 50-day moving average price is $19.72 and its 200-day moving average price is $19.51. The company has a quick ratio of 23.02, a current ratio of 23.02 and a debt-to-equity ratio of 0.24. CIM Commercial Trust has a 1-year low of $15.43 and a 1-year high of $69.31.

The company also recently disclosed a dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a dividend of $42.00 per share. This is an increase from CIM Commercial Trust’s previous dividend of $0.13. The ex-dividend date of this dividend was Tuesday, September 3rd.

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in CIM Commercial Trust by 284.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,497 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 1,108 shares during the last quarter. Nisa Investment Advisors LLC grew its position in CIM Commercial Trust by 56.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,195 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 1,150 shares during the last quarter. Morgan Stanley grew its position in CIM Commercial Trust by 4,484.5% during the 2nd quarter. Morgan Stanley now owns 5,318 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 5,202 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new stake in CIM Commercial Trust during the 2nd quarter valued at about $303,000. Finally, Northern Trust Corp grew its position in CIM Commercial Trust by 8.9% during the 2nd quarter. Northern Trust Corp now owns 20,635 shares of the real estate investment trust’s stock valued at $426,000 after purchasing an additional 1,689 shares during the last quarter. 21.39% of the stock is currently owned by institutional investors.

CIM Commercial Trust Company Profile

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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