Small hedge fund tries for change at a real estate trust, where activists often find a tough fight


Sheraton Grand Sacramento Hotel

Source: Sheraton Grand Sacramento Hotel

A small firm is looking to make a change at a real estate investment trust, an area typically tough for activism.

Company: CIM Commercial Trust Corp. (CMCT)

  • Business: Real estate investment trust that primarily acquires, owns, and operate Class A and office assets in the United States.
  • Stock market value: $155 million ($10.46 per share)

Activist: Engine Capital

  • Ownership: : 6.16%
  • Average cost: $14.52
  • Activist commentary: Engine Capital is an experienced activist investor led by managing partner Arnaud Ajdler, former partner and senior managing director at Crescendo Partners, L.P. 

What’s happening?

On May 18, Engine…


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