Raymond James & Associates cut its stake in shares of Extended Stay America (NYSE:STAY) by 1.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,606,487 shares of the company’s stock after selling 33,753 shares during the quarter. Raymond James & Associates’ holdings in Extended Stay America were worth $56,326,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Hilltop Holdings Inc. purchased a new stake in shares of Extended Stay America in the 1st quarter worth about $201,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Extended Stay America by 35.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,194 shares of the company’s stock worth $307,000 after buying an additional 3,715 shares in the last quarter. Tiverton Asset Management LLC purchased a new stake in shares of Extended Stay America in the 2nd quarter worth about $319,000. Bayesian Capital Management LP purchased a new stake in shares of Extended Stay America in the 1st quarter worth about $293,000. Finally, James Investment Research Inc. boosted its position in shares of Extended Stay America by 34.0% in the 2nd quarter. James Investment Research Inc. now owns 14,973 shares of the company’s stock worth $324,000 after buying an additional 3,800 shares in the last quarter. 96.67% of the stock is currently owned by institutional investors and hedge funds.
STAY has been the topic of several recent research reports. 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 objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Extended Stay America from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Morgan Stanley upgraded shares of Extended Stay America from an “equal” rating to an “overweight” rating and set a $23.00 price objective on the stock in a research report on Thursday, May 31st. Zacks Investment Research lowered shares of Extended Stay America from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $22.50 price objective on shares of Extended Stay America in a research report on Thursday, July 26th. One 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’s stock. The company has an average rating of “Buy” and an average target price of $22.95.
NYSE:STAY opened at $19.88 on Friday. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 2.54 and a beta of 0.96. 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 12-month low of $16.27 and a 12-month high of $22.58.
Extended Stay America (NYSE:STAY) last released its earnings results on Wednesday, July 25th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The company had revenue of $336.50 million for the quarter, compared to analyst estimates of $336.68 million. Extended Stay America had a net margin of 5.47% and a return on equity of 15.18%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 EPS. analysts forecast that Extended Stay America will post 1.15 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 23rd. Shareholders of record on Thursday, August 9th were issued a $0.22 dividend. The ex-dividend date was Wednesday, August 8th. This represents a $0.88 dividend on an annualized basis and a yield of 4.43%. Extended Stay America’s dividend payout ratio (DPR) is 88.00%.
In other Extended Stay America news, Director Richard F. Wallman sold 15,000 shares of the company’s stock in a transaction dated Thursday, August 2nd. The shares were 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 in the company, valued at approximately $2,381,049.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ames Flynn sold 1,390 shares of the company’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $21.47, for a total transaction of $29,843.30. Following the completion of the transaction, the insider now 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 currently owned by corporate 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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