Quantitative Systematic Strategies LLC bought a new position in shares of Extended Stay America (NYSE:STAY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 53,481 shares of the company’s stock, valued at approximately $1,156,000.
Other hedge funds have also modified their holdings of the company. Strs Ohio acquired a new stake in Extended Stay America during the 2nd quarter valued at $337,000. Toronto Dominion Bank grew its holdings in Extended Stay America by 39,595.5% during the 2nd quarter. Toronto Dominion Bank now owns 176,645 shares of the company’s stock valued at $3,677,000 after buying an additional 176,200 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Extended Stay America by 22.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 124,742 shares of the company’s stock valued at $2,696,000 after buying an additional 22,810 shares during the last quarter. Rhumbline Advisers grew its holdings in Extended Stay America by 1.3% during the 2nd quarter. Rhumbline Advisers now owns 201,447 shares of the company’s stock valued at $4,353,000 after buying an additional 2,531 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Extended Stay America by 35.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,194 shares of the company’s stock valued at $307,000 after buying an additional 3,715 shares during the last quarter. 96.67% of the stock is owned by institutional investors and hedge funds.
STAY stock opened at $20.79 on Friday. Extended Stay America has a 52-week low of $16.27 and a 52-week high of $22.58. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market cap of $4.16 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 2.54 and a beta of 0.96.
Extended Stay America (NYSE:STAY) last posted its quarterly earnings data on Wednesday, July 25th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. Extended Stay America had a return on equity of 15.18% and a net margin of 5.47%. 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 firm earned $0.31 earnings per share. The business’s revenue was down .5% on a year-over-year basis. equities research analysts predict that Extended Stay America will post 1.15 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 23rd. Stockholders of record on Thursday, August 9th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Wednesday, August 8th. Extended Stay America’s dividend payout ratio (DPR) is 88.00%.
Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Extended Stay America from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, April 30th. Zacks Investment Research cut Extended Stay America from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Jefferies Financial Group assumed coverage on Extended Stay America in a report on Thursday, May 31st. They set a “buy” rating and a $26.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Extended Stay America from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Finally, ValuEngine cut Extended Stay America from a “buy” rating to a “hold” rating in a report on Friday, April 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $22.95.
In related news, Director Richard F. Wallman sold 15,000 shares of the stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $21.49, for a total value of $322,350.00. Following the transaction, the director now directly owns 110,798 shares of the company’s stock, valued at approximately $2,381,049.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ames Flynn sold 1,390 shares of the stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $21.47, for a total value of $29,843.30. Following the completion of the transaction, the insider now directly owns 55,713 shares in the company, valued at $1,196,158.11. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.
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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