Amundi Pioneer Asset Management Inc. lowered its holdings in Extended Stay America, Inc. (NYSE:STAY) by 2.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 172,900 shares of the company’s stock after selling 5,100 shares during the period. Amundi Pioneer Asset Management Inc. owned 0.09% of Extended Stay America worth $3,458,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Extended Stay America by 49.9% in the second quarter. Vanguard Group Inc. now owns 15,145,372 shares of the company’s stock valued at $293,215,000 after purchasing an additional 5,044,514 shares during the period. BlackRock Inc. boosted its holdings in Extended Stay America by 82.3% in the second quarter. BlackRock Inc. now owns 12,118,235 shares of the company’s stock valued at $234,608,000 after acquiring an additional 5,469,312 shares during the last quarter. Investec Asset Management LTD boosted its holdings in Extended Stay America by 2.2% in the second quarter. Investec Asset Management LTD now owns 8,874,263 shares of the company’s stock valued at $171,806,000 after acquiring an additional 189,347 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Extended Stay America by 100.6% in the third quarter. Principal Financial Group Inc. now owns 6,710,452 shares of the company’s stock valued at $134,209,000 after acquiring an additional 3,365,110 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Extended Stay America by 29.4% in the second quarter. Ameriprise Financial Inc. now owns 4,816,589 shares of the company’s stock valued at $93,233,000 after acquiring an additional 1,095,624 shares during the last quarter. 98.49% of the stock is owned by institutional investors and hedge funds.
STAY has been the topic of a number of research analyst reports. BidaskClub cut Extended Stay America from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Robert W. Baird reiterated a “buy” rating and issued a $21.00 target price on shares of Extended Stay America in a report on Friday, September 8th. Zacks Investment Research cut Extended Stay America from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. ValuEngine cut Extended Stay America from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, Stifel Nicolaus reduced their target price on Extended Stay America from $21.00 to $19.25 and set a “buy” rating on the stock in a report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $20.81.
Extended Stay America (NYSE:STAY) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). The company had revenue of $350.86 million for the quarter, compared to analyst estimates of $359.70 million. Extended Stay America had a return on equity of 14.53% and a net margin of 5.83%. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 EPS. analysts predict that Extended Stay America, Inc. will post 0.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend is Monday, November 20th. Extended Stay America’s dividend payout ratio is presently 215.38%.
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Extended Stay America Profile
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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