Pendal Group Ltd lifted its holdings in Extended Stay America (NYSE:STAY) by 16.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 97,800 shares of the company’s stock after buying an additional 14,100 shares during the period. Pendal Group Ltd’s holdings in Extended Stay America were worth $1,978,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Schroder Investment Management Group raised its stake 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 period. Deprince Race & Zollo Inc. bought a new stake in Extended Stay America during the 3rd quarter worth approximately $31,942,000. Jennison Associates LLC bought a new stake in Extended Stay America during the 2nd quarter worth approximately $22,283,000. Long Pond Capital LP bought a new stake in Extended Stay America during the 2nd quarter worth approximately $18,840,000. Finally, Brown Advisory Inc. raised its stake in Extended Stay America by 43.0% during the 2nd quarter. Brown Advisory Inc. now owns 2,563,073 shares of the company’s stock worth $55,389,000 after acquiring an additional 770,822 shares during the period. Hedge funds and other institutional investors own 96.67% of the company’s stock.
Shares of STAY opened at $18.48 on Friday. Extended Stay America has a 1 year low of $15.73 and a 1 year high of $22.58.
Extended Stay America (NYSE:STAY) last announced its quarterly earnings data on Wednesday, October 31st. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $351.10 million for the quarter, compared to analysts’ expectations of $344.17 million. During the same period last year, the business earned $0.35 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 29th. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Wednesday, November 14th.
A number of equities research analysts have commented on STAY shares. Stifel Nicolaus restated a “buy” rating and set a $22.50 target price on shares of Extended Stay America in a research note on Thursday, July 26th. JPMorgan Chase & Co. raised their target price on shares of Extended Stay America from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. Zacks Investment Research cut shares of Extended Stay America from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. Finally, Bank of America cut shares of Extended Stay America from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target 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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