Zacks Investment Research Lowers CorePoint Lodging (CPLG) to Sell

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

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. “

Separately, JPMorgan Chase & Co. raised CorePoint Lodging from an underweight rating to a neutral rating and dropped their price target for the company from $16.00 to $14.00 in a report on Wednesday, January 9th.

NYSE CPLG opened at $11.00 on Monday. CorePoint Lodging has a 1 year low of $10.16 and a 1 year high of $28.30.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd will be issued a $0.20 dividend. The ex-dividend date is Monday, April 1st. This represents a $0.80 annualized dividend and a dividend yield of 7.27%. CorePoint Lodging’s dividend payout ratio is currently 38.83%.

Several hedge funds and other institutional investors have recently bought and sold shares of CPLG. Quantamental Technologies LLC acquired a new stake in CorePoint Lodging during the 4th quarter valued at $44,000. Federated Investors Inc. PA acquired a new stake in CorePoint Lodging during the 3rd quarter valued at $60,000. Pearl River Capital LLC acquired a new stake in CorePoint Lodging during the 4th quarter valued at $63,000. SG Americas Securities LLC acquired a new stake in CorePoint Lodging during the 4th quarter valued at $114,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in CorePoint Lodging by 352.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 13,037 shares of the company’s stock valued at $160,000 after purchasing an additional 10,158 shares during the period. 97.42% of the stock is currently owned by institutional investors.

About CorePoint Lodging

CorePoint Lodging Inc, a real estate investment trust company, focuses on midscale and upper-midscale lodging business. As of May 31, 2018, it had a portfolio of 316 hotels and approximately 40,000 rooms across 41 states in the United States. CorePoint Lodging Inc is headquartered in Irving, Texas.

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