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

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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…



Source cnbc.com

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