CIM Commercial Trust initiated with a Buy at Edward Jones » 07:5809/2909/29/22
Edward Jones analyst…
Edward Jones analyst Guarav Mehta initiated coverage of CIM Commercial Trust with a Buy rating and $9 price target.
|Over a month ago|
CMCT signs long-term lease with O'Gara Coach for Beverly Hills showroom » 08:1708/1508/15/22
Creative Media &…
Creative Media & Community Trust announced that it has signed a long-term lease with O'Gara Coach for the approximately 18,000-square-foot ground-floor retail space at the 9460 Wilshire Blvd. office building in Beverly Hills. The location will serve as a Beverly Hills flagship showroom for Rolls-Royce Motor Cars. O'Gara Coach, the world's largest Rolls-Royce Motor Cars dealer, will occupy the high-profile retail street frontage at 9460 Wilshire which is located at the prominent corner of Wilshire Boulevard and Beverly Drive. The mid-century, nine-story, 98,000-square-foot office building is steps from the Four Seasons Beverly Wilshire Hotel in Beverly Hills' retail district referred to as the Golden Triangle. "The Beverly Hills luxury strip brings to life the young and vibrant culture that defines the Rolls-Royce brand today. This new showcase location lies at the heart of the world's entertainment, sports and business clientele that influence luxury lovers worldwide. Rolls-Royce Motor Cars Beverly Hills is an annual recipient of multiple Global Awards, and we look forward to the O'Gara Coach team setting new records in this location," said Martin Fritsches, President and CEO, Rolls-Royce Motor Cars Americas.
|Over a quarter ago|
CIM Commercial Trust announces $10M share repurchase program » 08:1105/2405/24/22
CIM Commercial Trust…
CIM Commercial Trust announced that its board of directors authorized a repurchase program of up to $10M of the company's common stock.
CIM Commercial Trust reports Q1 core FFO 10c, consensus 12c » 16:0705/1005/10/22
Reports Q1 revenue…
Reports Q1 revenue $24.8M, consensus $24.82M. "We are pleased that our core FFO significantly improved from the year-earlier period, driven by improving hotel trends as well a large reduction in our cost structure," said David Thompson, Chief Executive Officer of Creative Media & Community Trust Corporation.
CMCT acquires parcel for apartment development in Los Angeles for $2.3M » 12:3304/0704/07/22
CMCT announced that it…
CMCT announced that it has acquired 3101 S. Western Ave., a 0.26-acre parcel in Los Angeles' Jefferson Park submarket, for $2.3M. CMCT intends to build a five-story apartment building with approximately 45 apartment residences offering a mix of studio, one-, and two-bedroom floor plans. The building will also provide 2,000 square feet of ground floor retail space. Construction is anticipated to begin in late 2023 or 2024.
CIM Commercial Trust increases quarterly dividend 13% to 8.5c per share » 08:5303/0803/08/22
CMCT announced that its…
CMCT announced that its board of directors has declared a quarterly cash dividend of 8.5c per share of common stock, an approximate 13% increase from the prior quarter. This dividend represents a 4.6% annualized yield utilizing the March 7 closing price. The dividend will be paid on April 1 to stockholders of record at the close of business on March 19.
CIM Commercial Trust signs long-term lease in Los Angeles » 08:3302/1402/14/22
CIM Commercial Trust…
CIM Commercial Trust announced that it has signed a long-term lease with Lisson Gallery for the entire approximately 5,000-square-foot building at 1037 N. Sycamore Ave. in Los Angeles. Established in 1967, Lisson Gallery is an international contemporary art gallery with locations in London, New York, and Shanghai. The space at 1037 N. Sycamore will serve as Lisson Gallery's first location in Los Angeles, which is anticipated to open in Autumn 2022.
CIM Commercial Trust announces reduction in management fee » 08:0701/0501/05/22
CIM Commercial Trust…
CIM Commercial Trust Corporation announced that CIM Group, the manager to CMCT, has agreed to a fee waiver that is expected to reduce CMCT's management fee by approximately 55%, resulting in $21c per share of annualized cost savings. The agreement is effective January 1. "This new fee structure more closely aligns our manager with the success of the common stockholders of CIM Commercial," said David Thompson, Chief Executive Officer of CIM Commercial Trust. "Management intends to recommend to the Board that CIM Commercial use substantially all of the cost savings achieved by the lower management fee to reward common stockholders through a dividend increase starting in the first quarter. With the new fee structure, the company is now well-positioned for growth. We have an attractive portfolio with a significant same store growth opportunity. In addition, we will continue to leverage the resources of CIM Group's large scale vertically integrated real asset platform to source and execute on attractive acquisitions to create value for shareholders."
iStar, Aspen Aerogels among B. Riley's top 25 stock picks for 2022 » 08:0701/0301/03/22
FRG, EVRI, TGH, GSAT, DHX, DBRG, SIMO, STAR, VCTR, LPTH, CMCT, DHC, ARWR, CUBI, SMSI, ALLO, SDIG, ALTG, UTI, RWAY, ASPN, JYNT, CRIS, LFMD, RMBL
Analysts at B. Riley…
Analysts at B. Riley announced their top 25 Picks for 2022. The list includes Franchise Group (FRG), Everi Holdings (EVRI), Textainer (TGH), Globalstar (GSAT), DHI Group (DHX), DigitalBridge (DBRG), Silicon Motion (SIMO), iStar (STAR), Victory Capital (VCTR), LightPath (LPTH), CIM Commercial Trust (CMCT), Diversified Healthcare Trust (DHC), Arrowhead (ARWR), Customers Bancorp (CUBI), Smith Micro (SMSI), Allogene Therapeutics (ALLO), Stronghold Digital Mining (SDIG), Alta Equipment Group (ALTG), Universal Technical (UTI), Runway Growth Finance (RWAY), Aspen Aerogels (ASPN), Joint Corp. (JYNT), Curis (CRIS), LifeMD (LFMD) and RumbleON (RMBL).
CIM Commercial Trust initiated with a Buy at B. Riley » 07:3010/2010/20/21
B. Riley analyst Craig…
B. Riley analyst Craig Kucera initiated coverage of CIM Commercial Trust with a Buy rating and $13 price target. After spending several years selling assets and returning capital to shareholders through share repurchases and special dividends, CIM should begin growing its portfolio through acquisitions and/or capital recycling, Kucera tells investors in a research note. The analyst sees "substantial upside potential" in the shares.