CorePoint Lodging (CPLG) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of CorePoint Lodging (NYSE:CPLG) in a research report released on Monday morning, Marketbeat.com reports. The brokerage issued an underweight rating and a $16.00 price objective on the stock.

CPLG stock opened at $16.89 on Monday. CorePoint Lodging has a fifty-two week low of $16.61 and a fifty-two week high of $28.30.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Monday, October 1st were issued a $0.20 dividend. The ex-dividend date was Friday, September 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.74%.

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC acquired a new position in CorePoint Lodging during the 2nd quarter valued at about $54,284,000. Northern Trust Corp acquired a new position in CorePoint Lodging during the 2nd quarter valued at about $15,374,000. MERIAN GLOBAL INVESTORS UK Ltd increased its stake in CorePoint Lodging by 14,871.1% during the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 356,462 shares of the company’s stock valued at $6,933,000 after buying an additional 354,081 shares during the period. Bank of New York Mellon Corp acquired a new position in CorePoint Lodging during the 2nd quarter valued at about $5,014,000. Finally, State of Alaska Department of Revenue acquired a new position in CorePoint Lodging during the 3rd quarter valued at about $178,000. 96.67% of the stock is currently owned by institutional investors and hedge funds.

CorePoint Lodging Company Profile

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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