GSA Capital Partners LLP lowered its holdings in Extended Stay America (NYSE:STAY) by 82.5% during the fourth quarter, HoldingsChannel reports. The firm owned 17,454 shares of the company’s stock after selling 82,522 shares during the period. GSA Capital Partners LLP’s holdings in Extended Stay America were worth $271,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of STAY. Parametrica Management Ltd bought a new position in shares of Extended Stay America during the fourth quarter worth about $208,000. Advisor Group Inc. grew its holdings in shares of Extended Stay America by 4.9% during the fourth quarter. Advisor Group Inc. now owns 19,060 shares of the company’s stock worth $296,000 after buying an additional 898 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Extended Stay America by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 816,713 shares of the company’s stock worth $12,659,000 after buying an additional 10,243 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Extended Stay America by 23.2% during the fourth quarter. BlackRock Inc. now owns 10,117,215 shares of the company’s stock worth $156,815,000 after buying an additional 1,904,908 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of Extended Stay America by 8.2% during the fourth quarter. New York State Common Retirement Fund now owns 632,272 shares of the company’s stock worth $9,800,000 after buying an additional 48,175 shares in the last quarter. 96.67% of the stock is currently owned by institutional investors.
NYSE:STAY opened at $17.99 on Thursday. Extended Stay America has a 52-week low of $14.77 and a 52-week high of $22.58.
Extended Stay America (NYSE:STAY) last posted its quarterly earnings results on Wednesday, February 27th. The company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. The company had revenue of $289.70 million during the quarter, compared to the consensus estimate of $288.52 million. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 4.89%.
A number of research firms recently issued reports on STAY. Goldman Sachs Group upgraded Extended Stay America from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Monday, March 4th. Morgan Stanley set a $21.00 price objective on Extended Stay America and gave the stock a “buy” rating in a report on Thursday, December 20th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $22.19.
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Extended Stay America 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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