Comerica Bank lowered its position in shares of Extended Stay America, Inc. (NYSE:STAY) by 20.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 921,741 shares of the company’s stock after selling 239,000 shares during the quarter. Comerica Bank owned about 0.48% of Extended Stay America worth $18,242,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in STAY. Vanguard Group Inc. increased its holdings in shares of Extended Stay America by 49.9% during the second quarter. Vanguard Group Inc. now owns 15,145,372 shares of the company’s stock valued at $293,215,000 after acquiring an additional 5,044,514 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Extended Stay America by 82.3% during the second quarter. BlackRock Inc. now owns 12,118,235 shares of the company’s stock valued at $234,608,000 after acquiring an additional 5,469,312 shares in the last quarter. Investec Asset Management LTD increased its holdings in shares of Extended Stay America by 2.2% during the second quarter. Investec Asset Management LTD now owns 8,874,263 shares of the company’s stock valued at $171,806,000 after acquiring an additional 189,347 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Extended Stay America by 100.6% during the third quarter. Principal Financial Group Inc. now owns 6,710,452 shares of the company’s stock valued at $134,209,000 after acquiring an additional 3,365,110 shares in the last quarter. Finally, Hamlin Capital Management LLC bought a new position in shares of Extended Stay America during the second quarter valued at $102,091,000. 99.60% of the stock is owned by institutional investors and hedge funds.
Extended Stay America, Inc. (STAY) traded up $0.06 during midday trading on Tuesday, reaching $16.87. The company had a trading volume of 2,368,800 shares, compared to its average volume of 2,176,119. Extended Stay America, Inc. has a 52 week low of $14.75 and a 52 week high of $20.95. The company has a market cap of $3,233.33, a P/E ratio of 16.64, a price-to-earnings-growth ratio of 3.03 and a beta of 1.05. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.11 and a quick ratio of 0.11.
Extended Stay America (NYSE:STAY) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). The firm had revenue of $350.86 million for the quarter, compared to the consensus estimate of $359.70 million. Extended Stay America had a net margin of 5.83% and a return on equity of 14.53%. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 earnings per share. equities research analysts anticipate that Extended Stay America, Inc. will post 0.97 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, November 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.98%. Extended Stay America’s dividend payout ratio is currently 215.38%.
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Several brokerages have recently weighed in on STAY. ValuEngine downgraded Extended Stay America from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Stifel Nicolaus reduced their price objective on Extended Stay America from $21.00 to $19.25 and set a “buy” rating for the company in a report on Wednesday, November 8th. Robert W. Baird reiterated a “buy” rating and issued a $21.00 price objective on shares of Extended Stay America in a report on Friday, September 8th. Zacks Investment Research downgraded Extended Stay America from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Finally, BidaskClub upgraded Extended Stay America from a “sell” rating to a “hold” rating in a report on Saturday, October 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Extended Stay America presently has a consensus rating of “Buy” and an average target price of $20.81.
Extended Stay America Profile
Extended Stay America, Inc is a owner/operator of company-branded hotels in North America. The Company operates in the extended stay lodging industry. The Company owns and operates approximately 700 hotel properties consisting of approximately 75,900 rooms located in 44 states across the United States of America and in Canada.
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