Pendal Group Ltd decreased its holdings in shares of Extended Stay America (NYSE:STAY) by 19.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 96,300 shares of the company’s stock after selling 23,900 shares during the period. Pendal Group Ltd owned approximately 0.05% of Extended Stay America worth $1,904,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Howe & Rusling Inc. purchased a new stake in Extended Stay America in the fourth quarter valued at approximately $116,000. CENTRAL TRUST Co boosted its position in Extended Stay America by 1,359.4% in the fourth quarter. CENTRAL TRUST Co now owns 8,304 shares of the company’s stock valued at $158,000 after buying an additional 7,735 shares during the last quarter. MANA Advisors LLC purchased a new stake in Extended Stay America in the fourth quarter valued at approximately $197,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Extended Stay America by 46.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,479 shares of the company’s stock valued at $199,000 after buying an additional 3,340 shares during the last quarter. Finally, QS Investors LLC boosted its position in Extended Stay America by 2,896.9% in the fourth quarter. QS Investors LLC now owns 10,699 shares of the company’s stock valued at $203,000 after buying an additional 10,342 shares during the last quarter.
Extended Stay America opened at $19.61 on Thursday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.19 and a current ratio of 0.19. Extended Stay America has a 12 month low of $19.40 and a 12 month high of $19.58. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 1.70 and a beta of 0.93.
Extended Stay America (NYSE:STAY) last released its quarterly earnings data on Thursday, April 26th. The company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.02. Extended Stay America had a return on equity of 15.18% and a net margin of 5.47%. The business had revenue of $298.00 million for the quarter, compared to analyst estimates of $292.38 million. During the same quarter in the prior year, the firm posted $0.35 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. sell-side analysts expect that Extended Stay America will post 1.14 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Shareholders of record on Friday, May 11th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 4.49%. The ex-dividend date is Thursday, May 10th. This is a positive change from Extended Stay America’s previous quarterly dividend of $0.21. Extended Stay America’s dividend payout ratio is currently 88.00%.
Extended Stay America declared that its Board of Directors has authorized a stock buyback program on Tuesday, February 27th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of brokerages recently commented on STAY. Robert W. Baird reiterated a “buy” rating and issued a $22.00 target price on shares of Extended Stay America in a research report on Thursday, April 19th. Barclays reiterated an “overweight” rating and issued a $22.00 target price (up previously from $21.00) on shares of Extended Stay America in a research report on Wednesday, February 28th. Morgan Stanley upped their target price on Extended Stay America from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, April 9th. ValuEngine lowered Extended Stay America from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Finally, Zacks Investment Research upgraded Extended Stay America from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $21.50.
In other Extended Stay America news, insider Kevin A. Henry sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $19.23, for a total value of $192,300.00. Following the sale, the insider now owns 117,196 shares in the company, valued at approximately $2,253,679.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.57% of the company’s stock.
Extended Stay America Company 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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