Zacks Investment Research Upgrades CorePoint Lodging (NYSE:CPLG) to Hold

Zacks Investment Research upgraded shares of CorePoint Lodging (NYSE:CPLG) from a sell rating to a hold rating in a research report report 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 research analysts also recently issued reports on the stock. TheStreet upgraded shares of Voya Financial from a c+ rating to a b- rating in a research report on Friday, April 5th. ValuEngine cut shares of WideOpenWest from a hold rating to a sell rating in a report on Friday, June 28th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Pinduoduo in a report on Tuesday, July 9th. They issued an underweight rating and a $20.48 price objective for the company.

NYSE CPLG opened at $12.06 on Tuesday. The firm has a market capitalization of $722.71 million and a P/E ratio of 5.85. The firm’s fifty day simple moving average is $12.58. CorePoint Lodging has a 1 year low of $10.16 and a 1 year high of $26.00.

CorePoint Lodging (NYSE:CPLG) last posted its earnings results on Tuesday, May 14th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.16). The business had revenue of $208.00 million for the quarter, compared to analyst estimates of $202.35 million. CorePoint Lodging had a negative net margin of 31.35% and a negative return on equity of 7.22%. As a group, analysts expect that CorePoint Lodging will post 1.97 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.20 dividend. The ex-dividend date was Thursday, June 27th. This represents a $0.80 dividend on an annualized basis and a yield of 6.63%. CorePoint Lodging’s payout ratio is 38.83%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its holdings 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 buying an additional 2,684,291 shares in the last quarter. Hsbc Holdings PLC purchased a new position in CorePoint Lodging in the fourth quarter valued at $1,042,000. Metropolitan Life Insurance Co. NY increased its holdings in CorePoint Lodging by 352.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,037 shares of the company’s stock valued at $160,000 after buying an additional 10,158 shares in the last quarter. Prudential Financial Inc. increased its holdings in CorePoint Lodging by 119.5% in the fourth quarter. Prudential Financial Inc. now owns 78,476 shares of the company’s stock valued at $961,000 after buying an additional 42,721 shares in the last quarter. Finally, Snow Park Capital Partners LP purchased a new position in CorePoint Lodging in the fourth quarter valued at $1,021,000. 93.11% of the stock is owned by institutional investors.

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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