JPMorgan Chase & Co. reduced its holdings in shares of Extended Stay America (NYSE:STAY) by 26.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,021,086 shares of the company’s stock after selling 357,889 shares during the quarter. JPMorgan Chase & Co.’s holdings in Extended Stay America were worth $20,657,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in STAY. SG Americas Securities LLC increased its position in Extended Stay America by 175.0% in the third quarter. SG Americas Securities LLC now owns 19,900 shares of the company’s stock worth $403,000 after buying an additional 12,664 shares during the period. Dupont Capital Management Corp acquired a new stake in Extended Stay America in the third quarter worth $552,000. Picton Mahoney Asset Management increased its position in Extended Stay America by 325.5% in the third quarter. Picton Mahoney Asset Management now owns 574,400 shares of the company’s stock worth $11,619,000 after buying an additional 439,406 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Extended Stay America in the third quarter worth $602,000. Finally, Pendal Group Ltd increased its position in Extended Stay America by 16.8% in the third quarter. Pendal Group Ltd now owns 97,800 shares of the company’s stock worth $1,978,000 after buying an additional 14,100 shares during the period. Institutional investors own 96.67% of the company’s stock.
Several brokerages have weighed in on STAY. Zacks Investment Research reaffirmed a “hold” rating on shares of Extended Stay America in a research report on Friday, November 16th. Bank of America increased their target price on Extended Stay America from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, November 2nd. Finally, JPMorgan Chase & Co. lowered 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 investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $22.56.
Extended Stay America (NYSE:STAY) last issued its quarterly earnings results on Wednesday, October 31st. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $351.10 million for the quarter, compared to analyst estimates of $344.17 million. Extended Stay America’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the business posted $0.35 earnings per share.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 29th. Stockholders of record on Thursday, November 15th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date was Wednesday, November 14th.
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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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