Shell Asset Management Co. Takes $396,000 Position in Extended Stay America (STAY)

Shell Asset Management Co. acquired a new position in shares of Extended Stay America (NYSE:STAY) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 19,591 shares of the company’s stock, valued at approximately $396,000.

Other hedge funds also recently added to or reduced their stakes in the company. Schroder Investment Management Group grew its holdings in Extended Stay America by 998.7% during the 2nd quarter. Schroder Investment Management Group now owns 3,052,990 shares of the company’s stock worth $65,609,000 after acquiring an additional 2,775,117 shares during the last quarter. Deprince Race & Zollo Inc. bought a new stake in Extended Stay America during the 3rd quarter worth approximately $31,942,000. FIL Ltd grew its holdings in Extended Stay America by 104.6% during the 3rd quarter. FIL Ltd now owns 2,561,000 shares of the company’s stock worth $51,809,000 after acquiring an additional 1,309,400 shares during the last quarter. Jennison Associates LLC bought a new stake in Extended Stay America during the 2nd quarter worth approximately $22,283,000. Finally, Long Pond Capital LP bought a new stake in Extended Stay America during the 2nd quarter worth approximately $18,840,000. Institutional investors and hedge funds own 96.67% of the company’s stock.

NYSE:STAY opened at $17.77 on Friday. Extended Stay America has a 52 week low of $15.73 and a 52 week high of $22.58.

Extended Stay America (NYSE:STAY) last posted its quarterly earnings data on Wednesday, October 31st. The company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. The firm had revenue of $351.10 million during the quarter, compared to the consensus estimate of $344.17 million. During the same period in the prior year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 29th. Stockholders of record on Thursday, November 15th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date of this dividend was Wednesday, November 14th.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research reissued a “hold” rating on shares of Extended Stay America in a report on Friday, November 16th. Bank of America boosted their target price on shares of Extended Stay America from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, November 2nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of 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 analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $22.56.

ILLEGAL ACTIVITY WARNING: This piece was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece on another site, it was stolen and republished in violation of international trademark and copyright law. The original version of this piece can be viewed at https://www.com-unik.info/2018/12/08/shell-asset-management-co-takes-396000-position-in-extended-stay-america-stay.html.

About Extended Stay America

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.

Featured Article: Fiduciary

Want to see what other hedge funds are holding STAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Extended Stay America (NYSE:STAY).

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

Receive News & Ratings for Extended Stay America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extended Stay America and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit