Extended Stay America (STAY) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its position in shares of Extended Stay America (NYSE:STAY) by 92.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 648,452 shares of the company’s stock after acquiring an additional 312,036 shares during the period. Wells Fargo & Company MN owned 0.34% of Extended Stay America worth $13,118,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in STAY. Jennison Associates LLC purchased a new stake in shares of Extended Stay America during the 2nd quarter worth approximately $22,283,000. Barings LLC purchased a new stake in shares of Extended Stay America during the 2nd quarter worth approximately $637,000. Virginia Retirement Systems ET AL raised its holdings in shares of Extended Stay America by 307.6% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 263,300 shares of the company’s stock worth $5,690,000 after acquiring an additional 198,700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Extended Stay America by 35.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,194 shares of the company’s stock worth $307,000 after acquiring an additional 3,715 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Extended Stay America by 1.3% during the 2nd quarter. Rhumbline Advisers now owns 201,447 shares of the company’s stock worth $4,353,000 after acquiring an additional 2,531 shares in the last quarter. 96.67% of the stock is owned by institutional investors and hedge funds.

Several analysts recently weighed in on STAY shares. Zacks Investment Research restated a “hold” rating on shares of Extended Stay America in a report on Friday, November 16th. Bank of America increased their price target on Extended Stay America from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, November 2nd. Finally, JPMorgan Chase & Co. decreased their price target on Extended Stay America from $25.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, November 2nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $22.56.

NYSE:STAY opened at $17.77 on Friday. Extended Stay America has a fifty-two week low of $15.73 and a fifty-two week high of $22.58.

Extended Stay America (NYSE:STAY) last released its quarterly earnings results on Wednesday, October 31st. The company reported $0.39 earnings per share 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 analysts’ expectations of $344.17 million. During the same quarter in the previous year, the company posted $0.35 EPS. The business’s quarterly revenue was up .1% on a year-over-year basis.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 29th. Investors of record on Thursday, November 15th were issued a dividend of $0.22 per share. The ex-dividend date was Wednesday, November 14th. This represents a $0.88 annualized dividend and a yield of 4.95%.

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Extended Stay America 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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Institutional Ownership by Quarter for Extended Stay America (NYSE:STAY)

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