Short Interest in CorePoint Lodging Inc (NYSE:CPLG) Increases By 39.0%
CorePoint Lodging Inc (NYSE:CPLG) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,640,000 shares, a growth of 39.0% from the December 31st total of 1,180,000 shares. Approximately 4.3% of the shares of the company are sold short. Based on an average daily volume of 272,200 shares, the short-interest ratio is currently 6.0 days.
Institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC bought a new stake in CorePoint Lodging during the 3rd quarter valued at approximately $37,000. Daiwa Securities Group Inc. bought a new stake in CorePoint Lodging during the 3rd quarter valued at approximately $69,000. Nisa Investment Advisors LLC raised its stake in CorePoint Lodging by 44.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,346 shares of the company’s stock valued at $74,000 after purchasing an additional 2,273 shares during the period. State of Alaska Department of Revenue raised its stake in CorePoint Lodging by 244.3% during the 4th quarter. State of Alaska Department of Revenue now owns 11,318 shares of the company’s stock valued at $120,000 after purchasing an additional 8,031 shares during the period. Finally, Rothschild Investment Corp IL bought a new stake in CorePoint Lodging during the 3rd quarter valued at approximately $142,000. 85.94% of the stock is currently owned by institutional investors.
CPLG has been the topic of a number of analyst reports. Zacks Investment Research raised CorePoint Lodging from a “sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Deutsche Bank initiated coverage on CorePoint Lodging in a research report on Friday, January 17th. They set a “buy” rating and a $15.00 price objective on the stock. Finally, ValuEngine cut CorePoint Lodging from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $12.33.
CorePoint Lodging (NYSE:CPLG) last issued its earnings results on Wednesday, November 13th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.65). The business had revenue of $215.00 million for the quarter, compared to the consensus estimate of $216.31 million. CorePoint Lodging had a negative net margin of 29.01% and a negative return on equity of 7.28%. Sell-side analysts expect that CorePoint Lodging will post 1.46 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 8.55%. The ex-dividend date of this dividend was Friday, December 27th. CorePoint Lodging’s dividend payout ratio (DPR) is presently 38.83%.
CorePoint Lodging Company Profile
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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