CorePoint Lodging (NYSE:CPLG) Rating Lowered 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 published on Tuesday, 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 equities analysts have also commented on the company. JPMorgan Chase & Co. lowered CorePoint Lodging from a neutral rating to an underweight rating and cut their price target for the stock from $13.00 to $11.00 in a report on Tuesday, July 9th. ValuEngine raised CorePoint Lodging from a sell rating to a hold rating in a report on Thursday, August 1st.

NYSE CPLG traded up $0.01 on Tuesday, hitting $9.95. 147,725 shares of the stock traded hands, compared to its average volume of 459,240. The business’s fifty day moving average is $9.78 and its two-hundred day moving average is $11.70. CorePoint Lodging has a 12 month low of $7.25 and a 12 month high of $18.95. The firm has a market capitalization of $574.23 million, a price-to-earnings ratio of 4.83 and a beta of 1.01.

CorePoint Lodging (NYSE:CPLG) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.67). CorePoint Lodging had a negative net margin of 28.49% and a negative return on equity of 6.95%. The firm had revenue of $219.00 million for the quarter, compared to the consensus estimate of $226.19 million. On average, analysts forecast that CorePoint Lodging will post 1.59 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 8.04%. The ex-dividend date of this dividend is Friday, September 27th. CorePoint Lodging’s payout ratio is currently 38.83%.

Several hedge funds have recently modified their holdings of CPLG. SG Americas Securities LLC raised its position in shares of CorePoint Lodging by 45.2% in the first quarter. SG Americas Securities LLC now owns 13,519 shares of the company’s stock worth $151,000 after buying an additional 4,208 shares in the last quarter. Donald Smith & CO. Inc. purchased a new stake in shares of CorePoint Lodging in the first quarter worth $33,510,000. Handelsbanken Fonder AB purchased a new stake in shares of CorePoint Lodging in the second quarter worth $185,000. Nisa Investment Advisors LLC raised its position in shares of CorePoint Lodging by 82.2% in the second quarter. Nisa Investment Advisors LLC now owns 5,073 shares of the company’s stock worth $63,000 after buying an additional 2,288 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of CorePoint Lodging by 18.1% in the second quarter. State of Alaska Department of Revenue now owns 16,038 shares of the company’s stock worth $198,000 after buying an additional 2,458 shares in the last quarter. Institutional investors own 86.97% of the company’s stock.

CorePoint Lodging Company Profile

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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