CIM Commercial Trust Corp to Issue Quarterly Dividend of $0.08 (NASDAQ:CMCT)

CIM Commercial Trust Corp (NASDAQ:CMCT) declared a quarterly dividend on Wednesday, September 2nd, Zacks reports. Stockholders of record on Monday, September 14th will be given a dividend of 0.075 per share by the real estate investment trust on Tuesday, September 29th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Friday, September 11th.

CIM Commercial Trust has decreased its dividend payment by 65.7% over the last three years and has raised its dividend every year for the last 1 years. CIM Commercial Trust has a payout ratio of -9.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect CIM Commercial Trust to earn ($0.52) per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of -57.7%.

Shares of NASDAQ CMCT opened at $10.29 on Thursday. The company has a current ratio of 7.87, a quick ratio of 7.87 and a debt-to-equity ratio of 8.70. The stock has a 50 day moving average price of $10.50 and a 200 day moving average price of $10.64. CIM Commercial Trust has a 52-week low of $6.27 and a 52-week high of $16.65.

CIM Commercial Trust (NASDAQ:CMCT) last announced its quarterly earnings results on Monday, August 10th. The real estate investment trust reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.08) by $0.53. CIM Commercial Trust had a positive return on equity of 2.43% and a negative net margin of 4.08%. Research analysts predict that CIM Commercial Trust will post -1.62 earnings per share for the current fiscal year.

In related news, major shareholder Cim Capital, Llc bought 95,245 shares of the stock in a transaction on Wednesday, July 8th. The stock was bought at an average price of $25.00 per share, for a total transaction of $2,381,125.00. Following the completion of the acquisition, the insider now directly owns 95,245 shares in the company, valued at $2,381,125. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Avraham Shemesh bought 106,518 shares of the stock in a transaction on Wednesday, July 8th. The shares were bought at an average price of $25.00 per share, with a total value of $2,662,950.00. The disclosure for this purchase can be found here. 19.40% of the stock is currently owned by insiders.

Separately, Zacks Investment Research upgraded CIM Commercial Trust from a “sell” rating to a “hold” rating in a report on Tuesday, August 11th.

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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Dividend History for CIM Commercial Trust (NASDAQ:CMCT)

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