CorePoint Lodging (CPLG) Trading Down 9.1%

CorePoint Lodging Inc (NYSE:CPLG) shares fell 9.1% during trading on Tuesday . The company traded as low as $15.75 and last traded at $15.97. 1,185,972 shares were traded during trading, an increase of 108% from the average session volume of 569,396 shares. The stock had previously closed at $17.56.

Separately, JPMorgan Chase & Co. began coverage on shares of CorePoint Lodging in a research note on Monday, October 15th. They set an “underweight” rating and a $16.00 price objective on the stock.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Monday, October 1st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.01%.

Several hedge funds and other institutional investors have recently bought and sold shares of CPLG. FMR LLC acquired a new position in shares of CorePoint Lodging during the second quarter valued at approximately $54,284,000. Northern Trust Corp acquired a new position in shares of CorePoint Lodging during the second quarter valued at approximately $15,374,000. MERIAN GLOBAL INVESTORS UK Ltd increased its stake in shares of 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 valued at $6,933,000 after acquiring an additional 354,081 shares during the period. Wells Fargo & Company MN increased its stake in shares of CorePoint Lodging by 297.3% during the third quarter. Wells Fargo & Company MN now owns 268,216 shares of the company’s stock valued at $5,216,000 after acquiring an additional 200,708 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of CorePoint Lodging during the second quarter valued at approximately $5,014,000. Institutional investors and hedge funds own 96.93% of the company’s stock.

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CorePoint Lodging Company Profile (NYSE:CPLG)

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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