Extended Stay America (NYSE:STAY) has been given a consensus rating of “Buy” by the seven analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $20.36.
A number of brokerages recently weighed in on STAY. Zacks Investment Research downgraded shares of Extended Stay America from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. Goldman Sachs Group upgraded shares of Extended Stay America from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Monday, March 4th. Finally, Deutsche Bank restated a “buy” rating and set a $22.00 target price on shares of Extended Stay America in a report on Sunday, May 5th.
Large investors have recently added to or reduced their stakes in the business. Deprince Race & Zollo Inc. grew its position in shares of Extended Stay America by 17.4% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,853,689 shares of the company’s stock valued at $28,732,000 after buying an additional 274,760 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Extended Stay America by 242.8% during the 4th quarter. SG Americas Securities LLC now owns 68,221 shares of the company’s stock valued at $1,057,000 after buying an additional 48,321 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Extended Stay America by 8.1% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 139,461 shares of the company’s stock valued at $2,162,000 after buying an additional 10,509 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of Extended Stay America during the 4th quarter valued at about $220,000. Finally, Canada Pension Plan Investment Board grew its position in shares of Extended Stay America by 44.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,405,800 shares of the company’s stock valued at $37,287,000 after buying an additional 738,600 shares during the last quarter. Hedge funds and other institutional investors own 96.67% of the company’s stock.
Shares of NYSE STAY traded down $0.08 during midday trading on Monday, reaching $16.82. The company’s stock had a trading volume of 25,595 shares, compared to its average volume of 1,780,696. Extended Stay America has a fifty-two week low of $14.77 and a fifty-two week high of $22.58. The stock has a 50 day simple moving average of $17.64.
Extended Stay America (NYSE:STAY) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.16. The business had revenue of $277.67 million during the quarter, compared to analyst estimates of $273.58 million. During the same quarter last year, the business earned $0.19 earnings per share. Extended Stay America’s revenue for the quarter was down 6.7% on a year-over-year basis.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 5.47%. This is an increase from Extended Stay America’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, May 15th.
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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