CorePoint Lodging (CPLG) Downgraded by Zacks Investment Research to “Sell”
Zacks Investment Research downgraded shares of CorePoint Lodging (NYSE:CPLG) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.
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. upgraded CorePoint Lodging from an underweight rating to a neutral rating and lowered their target price for the company from $16.00 to $14.00 in a research note on Wednesday, January 9th.
Several institutional investors and hedge funds have recently modified their holdings of CPLG. Bank of New York Mellon Corp purchased a new position in shares of CorePoint Lodging in the second quarter valued at $5,014,000. Northern Trust Corp purchased a new position in CorePoint Lodging during the second quarter worth about $15,374,000. State of Alaska Department of Revenue purchased a new position in CorePoint Lodging during the third quarter worth about $178,000. MERIAN GLOBAL INVESTORS UK Ltd grew its position in CorePoint Lodging by 14,871.1% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 356,462 shares of the company’s stock worth $6,933,000 after buying an additional 354,081 shares in the last quarter. Finally, Strs Ohio purchased a new position in CorePoint Lodging during the third quarter worth about $1,102,000. Hedge funds and other institutional investors own 95.26% of the company’s stock.
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.
See Also: Depreciation
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