Axa grew its position in Extended Stay America Inc (NYSE:STAY) by 71.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 406,900 shares of the company’s stock after purchasing an additional 170,000 shares during the period. Axa owned about 0.21% of Extended Stay America worth $7,731,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Alliancebernstein L.P. increased its holdings in Extended Stay America by 44.2% during the fourth quarter. Alliancebernstein L.P. now owns 134,241 shares of the company’s stock worth $2,551,000 after buying an additional 41,176 shares during the last quarter. Geode Capital Management LLC increased its holdings in Extended Stay America by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 1,590,146 shares of the company’s stock worth $30,212,000 after buying an additional 18,570 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in Extended Stay America by 15.8% during the fourth quarter. Allianz Asset Management GmbH now owns 101,085 shares of the company’s stock worth $1,921,000 after buying an additional 13,785 shares during the last quarter. Burgundy Asset Management Ltd. increased its holdings in Extended Stay America by 33.6% during the fourth quarter. Burgundy Asset Management Ltd. now owns 3,367,597 shares of the company’s stock worth $63,984,000 after buying an additional 847,811 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its holdings in Extended Stay America by 17.5% during the fourth quarter. OppenheimerFunds Inc. now owns 2,824,932 shares of the company’s stock worth $53,674,000 after buying an additional 420,457 shares during the last quarter. Institutional investors and hedge funds own 98.89% of the company’s stock.
Extended Stay America Inc (STAY) opened at $20.01 on Wednesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.94. The firm has a market cap of $3,799.27, a PE ratio of 48.44, a price-to-earnings-growth ratio of 3.55 and a beta of 0.96. Extended Stay America Inc has a 1 year low of $15.63 and a 1 year high of $21.28.
Extended Stay America declared that its board has approved a share repurchase plan on Tuesday, February 27th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 27th. Stockholders of record on Tuesday, March 13th will be given a $0.21 dividend. The ex-dividend date is Monday, March 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.20%. Extended Stay America’s dividend payout ratio (DPR) is currently 148.78%.
In other news, insider Kevin A. Henry sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $19.23, for a total value of $192,300.00. Following the completion of the transaction, the insider now directly owns 117,196 shares in the company, valued at $2,253,679.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is currently owned by company insiders.
A number of equities analysts have weighed in on the stock. Barclays reiterated an “overweight” rating and set a $22.00 target price (up previously from $21.00) on shares of Extended Stay America in a research report on Wednesday, February 28th. Stifel Nicolaus reiterated a “buy” rating and set a $20.50 target price on shares of Extended Stay America in a research report on Tuesday, January 9th. Zacks Investment Research upgraded shares of Extended Stay America from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. upgraded shares of Extended Stay America from a “neutral” rating to an “overweight” rating and set a $21.00 target price for the company in a research report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $21.06.
About Extended Stay America
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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