Extended Stay America major shareholder Sells $169,855,000 in Stock (STAY)
Extended Stay America (NASDAQ:STAY) major shareholder Real Estate Partner Blackstone sold 8,050,000 shares of the company’s stock on the open market in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $21.10, for a total value of $169,855,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of Extended Stay America (NASDAQ:STAY) traded up 0.31% during mid-day trading on Wednesday, hitting $22.80. 734,272 shares of the company’s stock traded hands. Extended Stay America has a one year low of $20.62 and a one year high of $26.83. The stock has a 50-day moving average of $22.8 and a 200-day moving average of $23.35. The company has a market cap of $4.667 billion and a P/E ratio of 49.09.
Extended Stay America (NASDAQ:STAY) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.27 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.28 by $0.01. The company had revenue of $321.90 million for the quarter, compared to the consensus estimate of $319.11 million. During the same quarter last year, the company posted $0.23 earnings per share. Extended Stay America’s revenue was up 9.7% compared to the same quarter last year. Analysts expect that Extended Stay America will post $0.90 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 28th. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Tuesday, August 12th.
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