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.
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.
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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.
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