CIM Commercial Trust (NASDAQ:CMCT) Share Price Passes Above 50-Day Moving Average of $20.34

CIM Commercial Trust Corp (NASDAQ:CMCT)’s share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $20.34 and traded as high as $20.69. CIM Commercial Trust shares last traded at $20.69, with a volume of 311 shares.

CMCT has been the topic of a number of recent analyst reports. TheStreet upgraded shares of CIM Commercial Trust from a “c+” rating to a “b” rating in a research note on Thursday, June 6th. BidaskClub lowered shares of CIM Commercial Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th.

The company has a debt-to-equity ratio of 0.26, a quick ratio of 17.56 and a current ratio of 17.56. The business has a 50-day moving average price of $20.34.

An institutional investor recently raised its position in CIM Commercial Trust stock. Nisa Investment Advisors LLC raised its holdings in CIM Commercial Trust Corp (NASDAQ:CMCT) by 56.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,195 shares of the real estate investment trust’s stock after purchasing an additional 1,150 shares during the period. Nisa Investment Advisors LLC’s holdings in CIM Commercial Trust were worth $66,000 at the end of the most recent reporting period. 1.24% of the stock is currently owned by institutional investors.

About CIM Commercial Trust (NASDAQ:CMCT)

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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