TheStreet Upgrades CIM Commercial Trust Corp. (CMCT) to Hold
CIM Commercial Trust Corp. (NASDAQ:CMCT) was upgraded by investment analysts at TheStreet from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
CIM Commercial Trust Corp. (NASDAQ:CMCT) opened at 15.25 on Monday. The firm has a 50-day moving average price of $0.00 and a 200 day moving average price of $0.00. CIM Commercial Trust Corp. has a 1-year low of $14.54 and a 1-year high of $20.27.
In other news, major shareholder Urban Partners Ii, Llc sold 3,628,116 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $22.00, for a total value of $79,818,552.00. Following the transaction, the insider now owns 81,900,466 shares of the company’s stock, valued at approximately $1,801,810,252. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 98.20% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the company. Forward Management LLC purchased a new position in CIM Commercial Trust Corp. during the third quarter valued at about $319,000. Schwab Charles Investment Management Inc. raised its position in CIM Commercial Trust Corp. by 2.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 37,980 shares of the real estate investment trust’s stock valued at $617,000 after buying an additional 924 shares during the last quarter. Vanguard Group Inc. raised its position in CIM Commercial Trust Corp. by 82.1% in the second quarter. Vanguard Group Inc. now owns 259,145 shares of the real estate investment trust’s stock valued at $4,209,000 after buying an additional 116,810 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in CIM Commercial Trust Corp. by 13.1% in the second quarter. Bank of New York Mellon Corp now owns 18,523 shares of the real estate investment trust’s stock valued at $301,000 after buying an additional 2,140 shares during the last quarter. 0.69% of the stock is currently owned by hedge funds and other institutional investors.
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CIM Commercial Trust Corp. Company Profile
CIM Commercial Trust Corporation is engaged in acquiring, owning and operating Class A 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 operates in the business segments, including the acquisition, redevelopment, ownership and management of office real estate, multifamily real estate and hotels.
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