CIM Commercial Trust Co. (NASDAQ:CMCT) declared a quarterly dividend on Tuesday, September 7th, Zacks reports. Investors of record on Friday, September 17th will be paid a dividend of 0.075 per share by the real estate investment trust on Wednesday, September 29th. This represents a $0.30 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend is Thursday, September 16th.
CIM Commercial Trust has decreased its dividend by 83.2% over the last three years and has raised its dividend annually for the last 1 consecutive years. CIM Commercial Trust has a dividend payout ratio of -11.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Shares of CMCT opened at $6.89 on Wednesday. The company’s fifty day moving average price is $7.69 and its 200 day moving average price is $10.07. CIM Commercial Trust has a one year low of $6.61 and a one year high of $17.29. The company has a debt-to-equity ratio of 3.25, a current ratio of 6.30 and a quick ratio of 6.30. The company has a market capitalization of $161.01 million, a PE ratio of -3.31 and a beta of 0.78.
A hedge fund recently raised its stake in CIM Commercial Trust stock. Royal Bank of Canada raised its position in CIM Commercial Trust Co. (NASDAQ:CMCT) by 223.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,747 shares of the real estate investment trust’s stock after buying an additional 1,897 shares during the period. Royal Bank of Canada’s holdings in CIM Commercial Trust were worth $25,000 as of its most recent SEC filing. Institutional investors own 24.75% of the company’s stock.
About CIM Commercial Trust
CIM Commercial Trust Corp. engages in the acquisition, ownership, and operation of Class A and office assets. It operates through the following segments: Office, Hotel, and Lending. The Office segment consists of rental of office space and other tenant services, including tenant reimbursements, parking, and storage space rental.
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