CorePoint Lodging (NYSE:CPLG) Trading 5.6% Higher After Dividend Announcement

Shares of CorePoint Lodging Inc (NYSE:CPLG) traded up 5.6% during trading on Thursday following a dividend announcement from the company. The company traded as high as $10.65 and last traded at $10.39, 482,671 shares traded hands during trading. An increase of 12% from the average session volume of 430,249 shares. The stock had previously closed at $9.84.

The newly announced dividend which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.80 dividend on an annualized basis and a yield of 7.75%. CorePoint Lodging’s dividend payout ratio (DPR) is presently 38.83%.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of CorePoint Lodging from a “buy” rating to a “hold” rating in a report on Friday, November 8th. ValuEngine lowered shares of CorePoint Lodging from a “buy” rating to a “hold” rating in a report on Wednesday.

The stock’s 50-day simple moving average is $9.95 and its 200 day simple moving average is $11.24. The company has a market capitalization of $567.88 million, a PE ratio of 5.01 and a beta of 1.01.

CorePoint Lodging (NYSE:CPLG) last announced its quarterly earnings data on Wednesday, November 13th. The company reported ($0.22) EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.65). CorePoint Lodging had a negative net margin of 29.01% and a negative return on equity of 7.18%. The firm had revenue of $215.00 million during the quarter, compared to analysts’ expectations of $216.31 million. On average, analysts expect that CorePoint Lodging Inc will post 1.46 earnings per share for the current year.

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of CorePoint Lodging by 9.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,611,680 shares of the company’s stock valued at $81,918,000 after purchasing an additional 569,063 shares during the last quarter. Donald Smith & CO. Inc. grew its position in shares of CorePoint Lodging by 77.5% in the 3rd quarter. Donald Smith & CO. Inc. now owns 5,044,114 shares of the company’s stock valued at $50,996,000 after buying an additional 2,201,797 shares during the last quarter. BlackRock Inc. grew its position in shares of CorePoint Lodging by 7.2% in the 2nd quarter. BlackRock Inc. now owns 3,317,238 shares of the company’s stock valued at $41,100,000 after buying an additional 221,841 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of CorePoint Lodging by 11.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 771,262 shares of the company’s stock valued at $9,556,000 after buying an additional 78,980 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of CorePoint Lodging by 2.6% in the 2nd quarter. Northern Trust Corp now owns 560,409 shares of the company’s stock valued at $6,943,000 after buying an additional 14,112 shares during the last quarter. 90.72% of the stock is currently owned by institutional investors.

CorePoint Lodging Company Profile (NYSE:CPLG)

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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