CorePoint Lodging (NYSE:CPLG) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of CorePoint Lodging (NYSE:CPLG) from a hold rating to a sell rating in a research note issued to investors on Monday, Zacks.com reports.

According to Zacks, “Corepoint Lodging Inc is a real-estate investment trust. It focused on select-service midscale and upper-midscale lodging. The company owns a diverse portfolio of hotels. Corepoint Lodging Inc is based in Irving, United States. “

A number of other analysts have also recently weighed in on the company. TheStreet upgraded Voya Financial from a c+ rating to a b- rating in a research report on Friday, April 5th. ValuEngine cut WideOpenWest from a hold rating to a sell rating in a research report on Friday, June 28th.



Shares of NYSE CPLG opened at $12.00 on Monday. The company has a fifty day moving average price of $12.65. The firm has a market capitalization of $754.64 million and a price-to-earnings ratio of 5.83. CorePoint Lodging has a one year low of $10.16 and a one year high of $26.57.

CorePoint Lodging (NYSE:CPLG) last issued its earnings results on Tuesday, May 14th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.16). CorePoint Lodging had a negative net margin of 31.35% and a negative return on equity of 7.22%. The firm had revenue of $208.00 million during the quarter, compared to analyst estimates of $202.35 million. On average, sell-side analysts forecast that CorePoint Lodging will post 1.95 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date is Thursday, June 27th. CorePoint Lodging’s dividend payout ratio (DPR) is 38.83%.

A number of large investors have recently made changes to their positions in the business. FMR LLC grew its position in CorePoint Lodging by 43.3% in the fourth quarter. FMR LLC now owns 8,887,452 shares of the company’s stock valued at $108,872,000 after acquiring an additional 2,684,291 shares during the period. BlackRock Inc. grew its position in CorePoint Lodging by 7.1% in the fourth quarter. BlackRock Inc. now owns 3,132,905 shares of the company’s stock valued at $38,378,000 after acquiring an additional 207,447 shares during the period. Donald Smith & CO. Inc. bought a new stake in CorePoint Lodging in the first quarter valued at $33,510,000. D. E. Shaw & Co. Inc. grew its position in CorePoint Lodging by 16.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,108,302 shares of the company’s stock valued at $13,577,000 after acquiring an additional 154,277 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd grew its position in CorePoint Lodging by 22.7% in the first quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 747,594 shares of the company’s stock valued at $8,350,000 after acquiring an additional 138,083 shares during the period. Hedge funds and other institutional investors own 92.91% of the company’s stock.

About CorePoint Lodging

CorePoint Lodging Inc, a real estate investment trust company, operates midscale and upper-midscale select-service hotels primarily under the La Quinta brand. As of March 21, 2019, it had a portfolio of 313 hotels and approximately 40,000 rooms across 41 states in the United States. CorePoint Lodging Inc is based in Irving, Texas.

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