CIM Commerical Trust (CMCT) Declares $0.08 Dividend

CIM Commerical Trust said on March 20, 2023 that its board of directors declared a regular quarterly dividend of $0.08 per share ($0.34 annualized). Previously, the company paid $0.08 per share.

Shares must be purchased before the ex-div date of March 29, 2023 to qualify for the dividend. Shareholders of record as of March 30, 2023 will receive the payment on April 11, 2023.

At the current share price of $4.45 / share, the stock's dividend yield is 7.64%. Looking back five years and taking a sample every week, the average dividend yield has been 5.09%, the lowest has been 1.37%, and the highest has been 12.35%. The standard deviation of yields is 2.79 (n=235).

The current dividend yield is 0.91 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 1.37. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.13%, demonstrating that it has increased its dividend over time.

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Analyst Price Forecast Suggests 106.29% Upside

As of March 21, 2023, the average one-year price target for CIM Commerical Trust is $9.18. The forecasts range from a low of $8.08 to a high of $11.55. The average price target represents an increase of 106.29% from its latest reported closing price of $4.45.

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The projected annual revenue for CIM Commerical Trust is $107MM, an increase of 5.96%. The projected annual non-GAAP EPS is -$0.49.

What is the Fund Sentiment?

There are 55 funds or institutions reporting positions in CIM Commerical Trust. This is a decrease of 12 owner(s) or 17.91% in the last quarter. Average portfolio weight of all funds dedicated to CMCT is 0.08%, an increase of 51.03%. Total shares owned by institutions increased in the last three months by 32.74% to 7,307K shares. The put/call ratio of CMCT is 3.08, indicating a bearish outlook.

What are Large Shareholders Doing?

Y.D. More Investments holds 1,128K shares representing 4.96% ownership of the company.

Harel Insurance Investments & Financial Services holds 1,123K shares representing 4.94% ownership of the company. No change in the last quarter.

Treasurer of the State of North Carolina holds 781K shares representing 3.44% ownership of the company. No change in the last quarter.

Neuberger Berman Group holds 579K shares representing 2.55% ownership of the company. No change in the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 478K shares representing 2.10% ownership of the company. In it's prior filing, the firm reported owning 366K shares, representing an increase of 23.43%. The firm decreased its portfolio allocation in CMCT by 7.52% over the last quarter.

Creative Media & Community Trust Background Information
(This description is provided by the company.)

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 and the San Francisco Bay Area. 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 (www.cimcommercial.com).

This story originally appeared on Fintel.