NasdaqGM:CMCT

Stock Analysis Report

Executive Summary

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.


Snowflake Analysis

Solid track record and slightly overvalued.

Share Price & News

How has CIM Commercial Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CMCT has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.4%

CMCT

-0.07%

US REITs

-1.1%

US Market


1 Year Return

-72.1%

CMCT

16.0%

US REITs

17.9%

US Market

Return vs Industry: CMCT underperformed the US REITs industry which returned 16% over the past year.

Return vs Market: CMCT underperformed the US Market which returned 17.9% over the past year.


Shareholder returns

CMCTIndustryMarket
7 Day-0.4%-0.07%-1.1%
30 Day-1.6%3.6%1.4%
90 Day4.7%7.8%6.9%
1 Year-4.9%-72.1%20.7%16.0%20.3%17.9%
3 Year37.0%-68.1%37.9%20.6%47.8%38.3%
5 Year43.9%-69.8%60.3%27.3%71.9%53.0%

Price Volatility Vs. Market

How volatile is CIM Commercial Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is CIM Commercial Trust undervalued compared to its fair value and its price relative to the market?

0.67x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate CMCT's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate CMCT's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: CMCT is good value based on its PE Ratio (0.7x) compared to the REITs industry average (37.2x).

PE vs Market: CMCT is good value based on its PE Ratio (0.7x) compared to the US market (18.2x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CMCT's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CMCT is overvalued based on its PB Ratio (3.1x) compared to the US REITs industry average (2.1x).


Next Steps

Future Growth

How is CIM Commercial Trust forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-39.0%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if CMCT's forecast earnings growth is above the savings rate (1.7%).

Earnings vs Market: Insufficient data to determine if CMCT's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: CMCT's revenue is expected to decline over the next 3 years (-39% per year).

High Growth Revenue: CMCT's revenue is forecast to decline over the next 3 years (-39% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CMCT's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has CIM Commercial Trust performed over the past 5 years?

46.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CMCT has a high level of non-cash earnings.

Growing Profit Margin: CMCT's current net profit margins are higher than last year (5.5%).


Past Earnings Growth Analysis

Earnings Trend: CMCT's earnings have grown significantly by 46.1% per year over the past 5 years.

Accelerating Growth: CMCT's earnings growth over the past year (2889.5%) exceeds its 5-year average (46.1% per year).

Earnings vs Industry: CMCT earnings growth over the past year (2889.5%) exceeded the REITs industry 7.6%.


Return on Equity

High ROE: CMCT's Return on Equity (87%) is considered outstanding.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is CIM Commercial Trust's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: CMCT has a high level of physical assets or inventory.

Debt Coverage by Assets: CMCT's debt is not covered by short term assets (assets are 0.5x debt).


Financial Institutions Analysis

Asset Level: CMCT's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if CMCT has a sufficient allowance for bad loans.

Low Risk Liabilities: CMCT reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if CMCT has an acceptable proportion of non-loan assets held.

Low Risk Deposits: CMCT has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if CMCT has an appropriate level of bad loans.


Next Steps

Dividend

What is CIM Commercial Trust's current dividend yield, its reliability and sustainability?

2.00%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CMCT's dividend (2%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: CMCT's dividend (2%) is low compared to the top 25% of dividend payers in the US market (3.73%).


Stability and Growth of Payments

Stable Dividend: CMCT has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: CMCT has only been paying a dividend for 6 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (5385.5%), CMCT's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.1yrs

Average management tenure


CEO

David Thompson (55yo)

0.9yrs

Tenure

Mr. David A. Thompson, CPA serves as Director at SkyPower Limited since 2019. He has been Chief Executive Officer of CIM Commercial Trust Corporation (a/k/a, PMC Commercial Trust) since March 29, 2019 and  ...


Leadership Team

NamePositionTenureCompensationOwnership
David Thompson
Chief Executive Officer0.9yrsno data0.051% $112.6k
Jan Salit
President & Secretary7.3yrsUS$754.53k0.21% $450.9k
Nathan DeBacker
Chief Financial Officer0.9yrsno data0.021% $45.0k
Jolly Singh
Managing Director of Investments2.5yrsno datano data
Barry Berlin
Executive VP of Finance & Accounting5.9yrsUS$572.22kno data
Stephen Altebrando
VP, Equity Capital Markets0yrsno datano data
Jordan Dembo
MD & Chief Legal Officer1.7yrsno datano data
Chris Allman
Managing Director of Capital Markets2.5yrsno datano data
Robert Dupree
MD of Partner & Co-Investor Relations and Product Management1.7yrsno datano data
Ryan Harter
Principal of Development - CIM Group0yrsno datano data

2.1yrs

Average Tenure

56.5yo

Average Age

Experienced Management: CMCT's management team is considered experienced (2.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Robert Cresci
Independent Director5.9yrsUS$119.99k0.039% $85.6k
Richard Ressler
Chairman of the Board5.9yrsno data0.070% $153.4k
Douglas Bech
Independent Director5.9yrsUS$99.99k0.050% $109.4k
Avraham Shemesh
Director5.9yrsno data0.036% $78.1k
Shaul Kuba
Director5.9yrsno data0.036% $78.1k
Kelly Eppich
Independent Director5.9yrsno data0.087% $190.5k
Frank Golay
Independent Director5.9yrsUS$99.99k0.052% $114.5k

5.9yrs

Average Tenure

62yo

Average Age

Experienced Board: CMCT's board of directors are considered experienced (5.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: CMCT insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

CIM Commercial Trust Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: CIM Commercial Trust Corporation
  • Ticker: CMCT
  • Exchange: NasdaqGM
  • Founded:
  • Industry: Office REITs
  • Sector: Real Estate
  • Market Cap: US$219.178m
  • Shares outstanding: 14.60m
  • Website: https://www.cimcommercial.com

Number of Employees


Location

  • CIM Commercial Trust Corporation
  • 17950 Preston Road
  • Suite 600
  • Dallas
  • Texas
  • 75252
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CMCTNasdaqGM (Nasdaq Global Market)YesCommon SharesUSUSDMar 2014
WY52DB (Deutsche Boerse AG)YesCommon SharesDEEURMar 2014
CMCT-LTASE (The Tel-Aviv Stock Exchange)YesCommon SharesILILSMar 2014
CMCT.PNasdaqGM (Nasdaq Global Market)PFD SER LUSUSDNov 2017
CMCTPTASE (The Tel-Aviv Stock Exchange)PFD SER LILILSNov 2017

Biography

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. CIM Commercial Trust Corporation operates as a subsidiary of CIM Group, L.P. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/23 00:27
End of Day Share Price2020/02/21 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.