Bailard Inc. boosted its stake in shares of Extended Stay America (NYSE:STAY) by 32.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,470 shares of the company’s stock after acquiring an additional 18,642 shares during the quarter. Bailard Inc.’s holdings in Extended Stay America were worth $1,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN lifted its position in shares of Extended Stay America by 46.7% in the 1st quarter. Wells Fargo & Company MN now owns 336,661 shares of the company’s stock worth $6,656,000 after buying an additional 107,218 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Extended Stay America by 4.1% in the 1st quarter. Rhumbline Advisers now owns 198,916 shares of the company’s stock worth $3,933,000 after buying an additional 7,760 shares during the last quarter. Intrinsic Edge Capital Management LLC bought a new position in shares of Extended Stay America in the 1st quarter worth about $13,217,000. Comerica Bank lifted its position in shares of Extended Stay America by 10.0% in the 1st quarter. Comerica Bank now owns 898,864 shares of the company’s stock worth $18,346,000 after buying an additional 81,512 shares during the last quarter. Finally, Mackay Shields LLC bought a new position in shares of Extended Stay America in the 1st quarter worth about $12,212,000. Institutional investors own 96.67% of the company’s stock.
STAY has been the topic of a number of recent research reports. ValuEngine downgraded shares of Extended Stay America from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Morgan Stanley raised their price target on shares of Extended Stay America from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, April 30th. Jefferies Financial Group initiated coverage on shares of Extended Stay America in a research report on Thursday, May 31st. They issued a “buy” rating and a $26.00 price target on the stock. Zacks Investment Research upgraded shares of Extended Stay America from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Monday, July 2nd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $22.50 price target on shares of Extended Stay America in a research report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $22.95.
STAY stock opened at $20.79 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.19 and a current ratio of 0.19. Extended Stay America has a fifty-two week low of $16.27 and a fifty-two week high of $22.58. The stock has a market capitalization of $4.16 billion, a P/E ratio of 20.79, a PEG ratio of 2.54 and a beta of 0.96.
Extended Stay America (NYSE:STAY) last released its quarterly earnings data on Wednesday, July 25th. The company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Extended Stay America had a net margin of 5.47% and a return on equity of 15.18%. The business had revenue of $336.50 million for the quarter, compared to analysts’ expectations of $336.68 million. During the same quarter last year, the company earned $0.31 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. research analysts forecast that Extended Stay America will post 1.15 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 23rd. Investors of record on Thursday, August 9th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, August 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.23%. Extended Stay America’s dividend payout ratio (DPR) is presently 88.00%.
In other Extended Stay America news, Director Richard F. Wallman sold 15,000 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $21.49, for a total transaction of $322,350.00. Following the transaction, the director now owns 110,798 shares of the company’s stock, valued at approximately $2,381,049.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian T. Nicholson bought 10,000 shares of the stock in a transaction on Tuesday, July 31st. The shares were bought at an average cost of $21.19 per share, for a total transaction of $211,900.00. The disclosure for this purchase can be found here. 0.72% of the stock is owned by company insiders.
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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