Extended Stay America Inc (STAY) Stake Increased by Legal & General Group Plc
Legal & General Group Plc lifted its stake in shares of Extended Stay America Inc (NYSE:STAY) by 17.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,225 shares of the company’s stock after buying an additional 10,912 shares during the quarter. Legal & General Group Plc’s holdings in Extended Stay America were worth $1,445,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado grew its position in shares of Extended Stay America by 122.8% during the second quarter. Public Employees Retirement Association of Colorado now owns 5,202 shares of the company’s stock worth $101,000 after buying an additional 2,867 shares in the last quarter. Cable Hill Partners LLC acquired a new stake in shares of Extended Stay America during the third quarter worth approximately $104,000. The Manufacturers Life Insurance Company grew its position in shares of Extended Stay America by 6.3% during the second quarter. The Manufacturers Life Insurance Company now owns 6,181 shares of the company’s stock worth $120,000 after buying an additional 367 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its position in shares of Extended Stay America by 108.3% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 7,073 shares of the company’s stock worth $141,000 after buying an additional 3,678 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Extended Stay America in the second quarter worth $148,000. 98.45% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $19.50 price objective (up previously from $19.25) on shares of Extended Stay America in a report on Tuesday, December 19th. JPMorgan Chase & Co. raised shares of Extended Stay America from a “neutral” rating to an “overweight” rating and set a $21.00 price objective for the company in a report on Wednesday, December 13th. Bank of America decreased their price objective on shares of Extended Stay America from $24.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. Deutsche Bank decreased their price objective on shares of Extended Stay America from $23.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. Finally, Nomura decreased their price objective on shares of Extended Stay America from $26.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. Extended Stay America has a consensus rating of “Buy” and an average price target of $21.06.
Extended Stay America (NYSE:STAY) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.02). Extended Stay America had a net margin of 5.83% and a return on equity of 14.53%. The firm had revenue of $350.86 million for the quarter, compared to analyst estimates of $359.70 million. During the same period last year, the firm posted $0.36 EPS. The business’s revenue was down 1.0% compared to the same quarter last year. equities analysts forecast that Extended Stay America Inc will post 0.97 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Monday, November 20th. Extended Stay America’s dividend payout ratio (DPR) is 215.38%.
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Extended Stay America Profile
Extended Stay America, Inc is a owner/operator of company-branded hotels in North America. The Company operates in the extended stay lodging industry. The Company owns and operates approximately 700 hotel properties consisting of approximately 75,900 rooms located in 44 states across the United States of America and in Canada.
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