CorePoint Lodging (NYSE:CPLG) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of CorePoint Lodging (NYSE:CPLG) from a neutral rating to an underweight rating in a research note released on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has $11.00 price objective on the stock, down from their prior price objective of $13.00.

Several other research firms have also issued reports on CPLG. TheStreet raised Voya Financial from a c+ rating to a b- rating in a research report on Friday, April 5th. Zacks Investment Research raised Flagstar Bancorp from a hold rating to a buy rating and set a $38.00 target price on the stock in a research report on Monday, July 8th. Finally, ValuEngine lowered WideOpenWest from a hold rating to a sell rating in a research report on Friday, June 28th.

CPLG stock opened at $12.02 on Tuesday. The firm has a market cap of $696.59 million and a price-to-earnings ratio of 5.77. CorePoint Lodging has a 12-month low of $10.16 and a 12-month high of $26.57. The firm’s 50 day moving average price is $12.64.

CorePoint Lodging (NYSE:CPLG) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.16). The firm 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%. On average, research analysts forecast that CorePoint Lodging will post 1.97 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 6.66%. The ex-dividend date is Thursday, June 27th. CorePoint Lodging’s dividend payout ratio is presently 38.83%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Quantamental Technologies LLC increased its position in CorePoint Lodging by 29.1% in the first quarter. Quantamental Technologies LLC now owns 4,600 shares of the company’s stock worth $51,000 after buying an additional 1,037 shares during the period. Nisa Investment Advisors LLC increased its position in 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 during the period. BNP Paribas Arbitrage SA increased its position in CorePoint Lodging by 38.4% in the first quarter. BNP Paribas Arbitrage SA now owns 9,600 shares of the company’s stock worth $107,000 after buying an additional 2,662 shares during the period. Clear Harbor Asset Management LLC acquired a new stake in CorePoint Lodging in the first quarter worth $130,000. Finally, SG Americas Securities LLC increased its position in 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 during the period. 92.91% of the stock is currently owned by hedge funds and other 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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