Bank of New York Mellon Corp increased its position in Extended Stay America Inc (NYSE:STAY) by 19.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 668,118 shares of the company’s stock after purchasing an additional 106,486 shares during the period. Bank of New York Mellon Corp owned about 0.35% of Extended Stay America worth $13,364,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado raised its holdings in shares of Extended Stay America by 122.8% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 5,202 shares of the company’s stock valued at $101,000 after purchasing an additional 2,867 shares in the last quarter. Cable Hill Partners LLC bought a new position in shares of Extended Stay America during the 3rd quarter valued at $104,000. The Manufacturers Life Insurance Company raised its holdings in shares of Extended Stay America by 6.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,181 shares of the company’s stock valued at $120,000 after purchasing an additional 367 shares in the last quarter. SG Americas Securities LLC bought a new position in Extended Stay America in the 2nd quarter worth $148,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Extended Stay America by 210.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,038 shares of the company’s stock worth $214,000 after acquiring an additional 7,486 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $19.50 target price (up previously from $19.25) on shares of Extended Stay America in a report on Tuesday. J P Morgan Chase & Co upgraded shares of Extended Stay America from a “neutral” rating to an “overweight” rating and set a $21.00 price objective on the stock in a report on Wednesday, December 13th. Bank of America dropped their price objective on shares of Extended Stay America from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. Deutsche Bank dropped their price objective on shares of Extended Stay America from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. Finally, Nomura dropped their price objective on shares of Extended Stay America from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Extended Stay America has an average rating of “Buy” and an average price target of $21.06.
Extended Stay America (NYSE:STAY) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). Extended Stay America had a net margin of 5.83% and a return on equity of 14.53%. The firm had revenue of $350.86 million during the quarter, compared to analyst estimates of $359.70 million. During the same quarter last year, the firm earned $0.36 earnings per share. Extended Stay America’s quarterly revenue was down 1.0% on a year-over-year basis. equities research analysts predict that Extended Stay America Inc will post 0.97 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, November 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.53%. Extended Stay America’s payout ratio is 215.38%.
Extended Stay America Company 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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