Cipher Capital LP raised its holdings in shares of Extended Stay America, Inc. (NYSE:STAY) by 159.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 201,817 shares of the company’s stock after acquiring an additional 124,137 shares during the quarter. Cipher Capital LP owned approximately 0.10% of Extended Stay America worth $3,907,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Victory Capital Management Inc. bought a new position in shares of Extended Stay America during the 2nd quarter worth approximately $19,701,000. Oxford Asset Management bought a new position in shares of Extended Stay America during the 1st quarter worth approximately $241,000. Cornerstone Capital Management Holdings LLC. grew its stake in shares of Extended Stay America by 474.3% during the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 801,040 shares of the company’s stock worth $12,768,000 after acquiring an additional 661,554 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Extended Stay America by 4.1% in the 1st quarter. OppenheimerFunds Inc. now owns 2,783,106 shares of the company’s stock valued at $44,363,000 after buying an additional 109,486 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of Extended Stay America by 18.3% in the 2nd quarter. Prudential Financial Inc. now owns 4,060,739 shares of the company’s stock valued at $78,616,000 after buying an additional 627,688 shares during the last quarter. 99.44% of the stock is owned by institutional investors.
Several equities research analysts have issued reports on STAY shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $21.00 price target (up previously from $20.00) on shares of Extended Stay America in a report on Thursday, June 29th. BidaskClub upgraded Extended Stay America from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Zacks Investment Research cut Extended Stay America from a “buy” rating to a “hold” rating in a research report on Saturday, July 22nd. ValuEngine raised Extended Stay America from a “hold” rating to a “buy” rating in a research note on Saturday, May 27th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Extended Stay America in a research note on Friday, September 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $19.67.
Extended Stay America, Inc. (NYSE:STAY) opened at 19.86 on Friday. Extended Stay America, Inc. has a 52 week low of $13.00 and a 52 week high of $20.51. The firm has a 50-day moving average price of $19.20 and a 200 day moving average price of $18.22. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 25.49 and a beta of 1.06.
Extended Stay America (NYSE:STAY) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). Extended Stay America had a return on equity of 14.53% and a net margin of 5.24%. The business had revenue of $338.36 million during the quarter, compared to analysts’ expectations of $342.70 million. During the same quarter last year, the business posted $0.31 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities research analysts forecast that Extended Stay America, Inc. will post $1.02 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 15th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.23%. The ex-dividend date was Friday, August 11th. Extended Stay America’s dividend payout ratio (DPR) is currently 247.06%.
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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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