Extended Stay America, Inc. (NYSE:STAY) Plans $0.01 Quarterly Dividend

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Extended Stay America, Inc. (NYSE:STAY) declared a quarterly dividend on Wednesday, November 11th, Wall Street Journal reports. Investors of record on Tuesday, November 24th will be paid a dividend of 0.01 per share on Tuesday, December 8th. This represents a $0.04 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Monday, November 23rd.

Extended Stay America has increased its dividend payment by 23.0% over the last three years and has increased its dividend annually for the last 1 consecutive years. Extended Stay America has a dividend payout ratio of 19.0% meaning its dividend is sufficiently covered by earnings.

Shares of NYSE STAY opened at $12.72 on Friday. Extended Stay America has a twelve month low of $5.35 and a twelve month high of $15.06. The company has a 50 day moving average of $12.18 and a 200 day moving average of $11.85.

Extended Stay America (NYSE:STAY) last announced its quarterly earnings data on Monday, November 9th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.09. The firm had revenue of $285.89 million during the quarter, compared to analysts’ expectations of $272.37 million. Extended Stay America’s revenue was down 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 earnings per share.

In related news, Director Richard F. Wallman sold 20,000 shares of the business’s stock in a transaction on Friday, November 13th. The stock was sold at an average price of $12.28, for a total transaction of $245,600.00. 0.72% of the stock is owned by insiders.

A number of equities research analysts have weighed in on the stock. Bank of America upgraded shares of Extended Stay America from a “neutral” rating to a “buy” rating and boosted their target price for the company from $13.50 to $15.00 in a research note on Tuesday, September 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Extended Stay America in a research note on Thursday, September 17th. JPMorgan Chase & Co. upgraded shares of Extended Stay America from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $14.00 to $15.00 in a research note on Wednesday, September 30th. Finally, Morgan Stanley boosted their price objective on shares of Extended Stay America from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 27th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $13.80.

Extended Stay America Company Profile

Extended Stay America, Inc, together with its subsidiaries, owns, operates, develops, and manages hotels in the United States. As of May 4, 2020, the company had a network of 634 hotels. It serves customers in the mid-priced extended stay segment. The company also licenses Extended Stay America brand to third party franchisees.

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Dividend History for Extended Stay America (NYSE:STAY)

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