Pendal Group Ltd lifted its holdings in Extended Stay America (NYSE:STAY) by 16.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,800 shares of the company’s stock after buying an additional 14,100 shares during the quarter. Pendal Group Ltd’s holdings in Extended Stay America were worth $1,978,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in STAY. Rhumbline Advisers grew its position in Extended Stay America by 1.3% during the 2nd quarter. Rhumbline Advisers now owns 201,447 shares of the company’s stock valued at $4,353,000 after purchasing an additional 2,531 shares during the last quarter. Cadence Capital Management LLC grew its position in Extended Stay America by 18.6% during the 3rd quarter. Cadence Capital Management LLC now owns 17,861 shares of the company’s stock valued at $361,000 after purchasing an additional 2,798 shares during the last quarter. BB&T Securities LLC grew its position in Extended Stay America by 4.9% during the 2nd quarter. BB&T Securities LLC now owns 65,977 shares of the company’s stock valued at $1,425,000 after purchasing an additional 3,066 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Extended Stay America by 35.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,194 shares of the company’s stock valued at $307,000 after purchasing an additional 3,715 shares during the last quarter. Finally, James Investment Research Inc. grew its position in Extended Stay America by 34.0% during the 2nd quarter. James Investment Research Inc. now owns 14,973 shares of the company’s stock valued at $324,000 after purchasing an additional 3,800 shares during the last quarter. 96.67% of the stock is currently owned by hedge funds and other institutional investors.
STAY opened at $18.48 on Friday. Extended Stay America has a 52-week low of $15.73 and a 52-week high of $22.58.
Extended Stay America (NYSE:STAY) last posted its earnings results on Wednesday, October 31st. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The company had revenue of $351.10 million for the quarter, compared to the consensus estimate of $344.17 million. Extended Stay America’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.35 EPS.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 29th. Shareholders of record on Thursday, November 15th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend is Wednesday, November 14th.
Several brokerages recently commented on STAY. Stifel Nicolaus reissued a “buy” rating and set a $22.50 price objective on shares of Extended Stay America in a research report on Thursday, July 26th. JPMorgan Chase & Co. increased their price objective on shares of Extended Stay America from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. Zacks Investment Research downgraded shares of Extended Stay America from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Finally, Bank of America downgraded shares of Extended Stay America from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $22.56.
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Extended Stay America Company Profile
Extended Stay America, Inc, together with its subsidiaries, owns, operates, and manages hotels in the United States. As of February 27, 2018, it had 599 hotels and approximately 66,000 rooms, as well as managed 26 hotels under the Extended Stay America brand. It serves customers in the mid-priced extended stay segment.
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