CorePoint Lodging (CPLG) Posts Quarterly Earnings Results, Misses Expectations By $0.18 EPS

CorePoint Lodging (NYSE:CPLG) posted its earnings results on Tuesday. The company reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.18), MarketWatch Earnings reports. The firm had revenue of $234.00 million for the quarter, compared to analyst estimates of $234.85 million.

NYSE:CPLG traded up $0.26 during mid-day trading on Wednesday, reaching $16.23. 396,889 shares of the company were exchanged, compared to its average volume of 567,854. CorePoint Lodging has a 12 month low of $15.64 and a 12 month high of $28.30.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date is Friday, December 28th.

A number of large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its holdings in CorePoint Lodging by 23.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,635,424 shares of the company’s stock worth $51,259,000 after acquiring an additional 492,981 shares during the last quarter. FMR LLC bought a new stake in CorePoint Lodging during the 2nd quarter worth about $54,284,000. Northern Trust Corp bought a new stake in CorePoint Lodging during the 2nd quarter worth about $15,374,000. MERIAN GLOBAL INVESTORS UK Ltd grew its holdings 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 worth $6,933,000 after acquiring an additional 354,081 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in CorePoint Lodging by 297.3% during the 3rd quarter. Wells Fargo & Company MN now owns 268,216 shares of the company’s stock valued at $5,216,000 after purchasing an additional 200,708 shares during the period. 96.93% of the stock is currently owned by hedge funds and other institutional investors.

Separately, JPMorgan Chase & Co. initiated coverage on shares of CorePoint Lodging in a report on Monday, October 15th. They issued an “underweight” rating and a $16.00 target price on the stock.

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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.

Read More: Retained Earnings

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