Trade Report: Today, Forward Management LLC Buys 20,745 Shares of CIM Commercial Trust Corp. (CMCT)

Today, Forward Management LLC Buys 20,745  Shares of CIM Commercial Trust Corp. (CMCT)

Forward Management LLC acquired a new stake in CIM Commercial Trust Corp. (NASDAQ:CMCT) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 20,745 shares of the real estate investment trust’s stock, valued at approximately $319,000.

A number of other hedge funds have also recently modified their holdings of the company. Schwab Charles Investment Management Inc. raised its position in shares of 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 worth $617,000 after buying an additional 924 shares during the last quarter. Vanguard Group Inc. raised its position in shares of 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 worth $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 shares of 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 worth $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.

Shares of CIM Commercial Trust Corp. (NASDAQ:CMCT) remained flat at $15.35 during trading on Friday. 103 shares of the company were exchanged. CIM Commercial Trust Corp. has a one year low of $14.54 and a one year high of $20.27. The firm has a 50-day moving average price of $15.44 and a 200 day moving average price of $16.43. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 34.11 and a beta of 0.39.

Separately, TheStreet lowered shares of CIM Commercial Trust Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 17th.

In related news, major shareholder Urban Partners Ii, Llc sold 3,628,116 shares of CIM Commercial Trust Corp. stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $22.00, for a total transaction of $79,818,552.00. Following the sale, the insider now directly owns 81,900,466 shares of the company’s stock, valued at approximately $1,801,810,252. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 98.20% of the company’s stock.

About CIM Commercial Trust Corp.

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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