CIM Commercial Trust Corporation (CMCT) to Issue Dividend Increase – $0.73 Per Share
CIM Commercial Trust Corporation (NASDAQ:CMCT) declared a special dividend on Wednesday, December 20th, Wall Street Journal reports. Stockholders of record on Friday, December 29th will be given a dividend of 0.73 per share by the real estate investment trust on Thursday, January 11th. This represents a dividend yield of 2.57%. The ex-dividend date is Thursday, December 28th. This is an increase from CIM Commercial Trust’s previous special dividend of $0.28.
CIM Commercial Trust (NASDAQ:CMCT) traded up $0.32 during trading on Wednesday, hitting $19.42. 12,886 shares of the stock were exchanged, compared to its average volume of 10,881. The company has a debt-to-equity ratio of 1.10, a quick ratio of 9.09 and a current ratio of 9.09. CIM Commercial Trust has a one year low of $15.10 and a one year high of $20.45. The company has a market cap of $1,131.47, a P/E ratio of 162.92 and a beta of 0.15.
In other news, major shareholder Urban Partners Ii, Llc sold 14,090,909 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $22.00, for a total value of $309,999,998.00. Following the transaction, the insider now directly owns 41,627,739 shares in the company, valued at approximately $915,810,258. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 98.05% of the company’s stock.
A number of research analysts have recently issued reports on CMCT shares. ValuEngine upgraded shares of CIM Commercial Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. BidaskClub upgraded shares of CIM Commercial Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, December 12th.
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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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