CorePoint Lodging (NYSE:CPLG) Rating Lowered to Sell at Zacks Investment Research


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CorePoint Lodging (NYSE:CPLG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “

CPLG traded down $0.31 during trading hours on Tuesday, reaching $10.20. The company’s stock had a trading volume of 206,022 shares, compared to its average volume of 200,256. CorePoint Lodging has a fifty-two week low of $3.00 and a fifty-two week high of $10.58. The stock has a market cap of $597.32 million, a PE ratio of -1.99 and a beta of 1.94. The business’s 50-day moving average is $9.42 and its 200-day moving average is $7.58.

CorePoint Lodging (NYSE:CPLG) last released its quarterly earnings data on Thursday, March 11th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.65). CorePoint Lodging had a negative net margin of 58.59% and a negative return on equity of 14.67%. As a group, sell-side analysts anticipate that CorePoint Lodging will post -0.31 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in CPLG. Rye Brook Capital LLC acquired a new position in CorePoint Lodging during the fourth quarter worth $4,544,000. Hudson Value Partners LLC purchased a new stake in shares of CorePoint Lodging during the fourth quarter worth $809,000. Morgan Stanley increased its position in shares of CorePoint Lodging by 75.7% during the third quarter. Morgan Stanley now owns 247,393 shares of the company’s stock worth $1,349,000 after acquiring an additional 106,620 shares during the period. JPMorgan Chase & Co. increased its position in shares of CorePoint Lodging by 5.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,167,927 shares of the company’s stock worth $8,036,000 after acquiring an additional 60,665 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of CorePoint Lodging during the first quarter worth $410,000. Institutional investors own 81.18% of the company’s stock.

About CorePoint Lodging

CorePoint Lodging Inc, a real estate investment trust company, owns select-service hotels primarily under the La Quinta brand in the United States. As of December 31, 2020, it had a portfolio of 209 select-service hotels and approximately 27,800 rooms across 35 states in the United States. The company has elected to be taxed as a real estate investment trust.

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