Bamco Inc. NY increased its stake in Extended Stay America (NYSE:STAY) by 69.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,249,339 shares of the company’s stock after acquiring an additional 512,814 shares during the quarter. Bamco Inc. NY owned about 0.66% of Extended Stay America worth $24,699,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of STAY. Convergence Investment Partners LLC acquired a new position in shares of Extended Stay America in the fourth quarter worth approximately $1,001,000. Wasatch Advisors Inc. lifted its stake in shares of Extended Stay America by 9.7% in the fourth quarter. Wasatch Advisors Inc. now owns 144,613 shares of the company’s stock worth $2,748,000 after acquiring an additional 12,758 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Extended Stay America by 32.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,645,926 shares of the company’s stock worth $31,273,000 after acquiring an additional 403,042 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Extended Stay America in the fourth quarter worth approximately $292,000. Finally, First Manhattan Co. lifted its stake in Extended Stay America by 9.5% in the fourth quarter. First Manhattan Co. now owns 747,900 shares of the company’s stock valued at $14,210,000 after buying an additional 64,700 shares during the period.
Several equities analysts have issued reports on STAY shares. Zacks Investment Research raised Extended Stay America from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Wednesday, February 21st. Barclays reissued an “overweight” rating and issued a $22.00 price target (up from $21.00) on shares of Extended Stay America in a research note on Wednesday, February 28th. ValuEngine raised Extended Stay America from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Morgan Stanley boosted their price target on Extended Stay America from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, April 9th. Finally, Robert W. Baird reissued a “buy” rating and issued a $22.00 price target on shares of Extended Stay America in a research note on Thursday, April 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.50.
In other news, insider Kevin A. Henry sold 10,000 shares of the business’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 transaction of $192,300.00. Following the completion of the sale, the insider now owns 117,196 shares in the company, valued at $2,253,679.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.57% of the company’s stock.
Shares of Extended Stay America opened at $19.83 on Friday, according to Marketbeat.com. Extended Stay America has a 52-week low of $16.27 and a 52-week high of $21.28. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 1.70 and a beta of 0.93.
Extended Stay America (NYSE:STAY) last issued its quarterly earnings results on Thursday, April 26th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.02. The firm had revenue of $298.00 million for the quarter, compared to analyst estimates of $292.38 million. Extended Stay America had a return on equity of 15.18% and a net margin of 5.47%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.35 earnings per share. equities analysts predict that Extended Stay America will post 1.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Friday, May 11th will be issued a dividend of $0.22 per share. This is an increase from Extended Stay America’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, May 10th. This represents a $0.88 annualized dividend and a dividend yield of 4.44%. Extended Stay America’s payout ratio is currently 88.00%.
Extended Stay America announced that its board has approved a stock buyback plan on Tuesday, February 27th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
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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