Added to YB: 2021-07-16
Pitch date: 2021-07-16
CPLG [bullish]
CorePoint Lodging Inc.
+16.56%
current return
Author Info
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Company Info
CorePoint Lodging Inc., a real estate investment trust company, owns select-service hotels primarily under the La Quinta brand in the United States.
Market Cap
$945.0M
Pitch Price
$13.71
Price Target
N/A
Dividend
N/A
EV/EBITDA
N/A
P/E
-32.47
EV/Sales
N/A
Sector
Hotel and Resort REITs
Category
value
CorePoint Lodging: Strategic Alternatives, Another Hotel REIT for Sale
CPLG: Hotel REIT selling at 9.3x 2019 hotel EBITDA of $118M (adj for asset sales), below recent comps. Q2 RevPAR near 2019 levels. 30% owned by Blackstone, who may partner in a buyout like STAY deal. Upside to $18 (9% cap rate) vs $13.75 now. Risks: tough industry economics, prior spin issues.
Read full article (3 min)