Sterling Capital Management LLC grew its position in Extended Stay America (NYSE:STAY) by 62.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 283,015 shares of the company’s stock after purchasing an additional 108,451 shares during the period. Sterling Capital Management LLC owned approximately 0.15% of Extended Stay America worth $5,725,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of STAY. Iberiabank Corp acquired a new stake in shares of Extended Stay America in the third quarter valued at about $251,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Extended Stay America by 35.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,194 shares of the company’s stock valued at $307,000 after acquiring an additional 3,715 shares during the last quarter. Tiverton Asset Management LLC acquired a new stake in shares of Extended Stay America in the second quarter valued at about $319,000. James Investment Research Inc. increased its position in shares of Extended Stay America by 34.0% in the second quarter. James Investment Research Inc. now owns 14,973 shares of the company’s stock valued at $324,000 after acquiring an additional 3,800 shares during the last quarter. Finally, Hilltop Holdings Inc. increased its position in shares of Extended Stay America by 51.3% in the second quarter. Hilltop Holdings Inc. now owns 15,372 shares of the company’s stock valued at $333,000 after acquiring an additional 5,212 shares during the last quarter. Institutional investors own 96.67% of the company’s stock.
STAY has been the topic of a number of recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $22.50 target price on shares of Extended Stay America in a research report on Thursday, July 26th. Zacks Investment Research downgraded Extended Stay America from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Bank of America boosted their price target on Extended Stay America from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, JPMorgan Chase & Co. lowered their price target on Extended Stay America from $25.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $22.45.
Shares of NYSE STAY opened at $18.02 on Monday. Extended Stay America has a twelve month low of $15.73 and a twelve month high of $22.58.
Extended Stay America (NYSE:STAY) last announced its quarterly earnings results on Wednesday, October 31st. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $351.10 million for the quarter, compared to analyst estimates of $344.17 million. Extended Stay America’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the firm earned $0.35 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 29th. Shareholders of record on Thursday, November 15th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date is Wednesday, November 14th.
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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