Impala Asset Management LLC trimmed its position in Extended Stay America, Inc. (NYSE:STAY) by 71.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 231,982 shares of the company’s stock after selling 590,905 shares during the quarter. Impala Asset Management LLC owned approximately 0.12% of Extended Stay America worth $4,640,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in STAY. California Public Employees Retirement System acquired a new stake in Extended Stay America during the 1st quarter worth $309,000. Dimensional Fund Advisors LP raised its stake in Extended Stay America by 33.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 319,589 shares of the company’s stock worth $5,094,000 after acquiring an additional 80,950 shares in the last quarter. State Street Corp raised its stake in Extended Stay America by 6.7% during the 1st quarter. State Street Corp now owns 1,025,601 shares of the company’s stock worth $16,350,000 after acquiring an additional 64,203 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Extended Stay America by 642.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,018,323 shares of the company’s stock worth $19,703,000 after acquiring an additional 881,130 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in Extended Stay America by 122.8% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 5,202 shares of the company’s stock worth $101,000 after acquiring an additional 2,867 shares in the last quarter. Institutional investors and hedge funds own 98.47% of the company’s stock.
A number of research firms have commented on STAY. Robert W. Baird restated a “buy” rating and issued a $21.00 price objective on shares of Extended Stay America in a research note on Thursday, October 12th. Zacks Investment Research lowered shares of Extended Stay America from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Morgan Stanley dropped their price objective on shares of Extended Stay America from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 8th. BidaskClub lowered shares of Extended Stay America from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Finally, Deutsche Bank dropped their price objective on shares of Extended Stay America from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Extended Stay America currently has a consensus rating of “Buy” and an average target price of $20.81.
Extended Stay America (NYSE:STAY) last issued its earnings results on Tuesday, November 7th. The company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). The firm had revenue of $350.86 million during the quarter, compared to analysts’ expectations of $359.70 million. Extended Stay America had a net margin of 5.83% and a return on equity of 14.53%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 EPS. research analysts anticipate that Extended Stay America, Inc. will post 0.97 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.80%. The ex-dividend date is Monday, November 20th. Extended Stay America’s payout ratio is 215.38%.
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Extended Stay America Company 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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