Schwab Charles Investment Management Inc. grew its position in Extended Stay America (NYSE:STAY) by 8.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,792,331 shares of the company’s stock after acquiring an additional 146,405 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.94% of Extended Stay America worth $35,435,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of STAY. Howe & Rusling Inc. bought a new stake in shares of Extended Stay America in the 4th quarter valued at approximately $116,000. CENTRAL TRUST Co boosted its position in Extended Stay America by 1,359.4% during the 4th quarter. CENTRAL TRUST Co now owns 8,304 shares of the company’s stock valued at $158,000 after purchasing an additional 7,735 shares during the period. MANA Advisors LLC acquired a new position in Extended Stay America during the 4th quarter valued at approximately $197,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Extended Stay America by 46.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,479 shares of the company’s stock worth $199,000 after acquiring an additional 3,340 shares during the period. Finally, QS Investors LLC boosted its position in Extended Stay America by 2,896.9% during the 4th quarter. QS Investors LLC now owns 10,699 shares of the company’s stock worth $203,000 after acquiring an additional 10,342 shares during the period. Institutional investors and hedge funds own 96.78% of the company’s stock.
A number of analysts have recently commented on STAY shares. Robert W. Baird reissued a “buy” rating and issued a $22.00 price objective on shares of Extended Stay America in a research note on Thursday, April 19th. Barclays reissued an “overweight” rating and set a $22.00 price target (up from $21.00) on shares of Extended Stay America in a research report on Wednesday, February 28th. Morgan Stanley upped their price target 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 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 report on Wednesday, February 21st. One 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. Extended Stay America has an average rating of “Buy” and an average price target of $21.50.
In other news, insider Kevin A. Henry sold 10,000 shares of the 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 completion of the transaction, the insider now directly owns 117,196 shares of the company’s stock, valued at approximately $2,253,679.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.57% of the company’s stock.
Shares of Extended Stay America opened at $19.79 on Friday, according to Marketbeat.com. Extended Stay America has a 1 year low of $16.27 and a 1 year high of $21.28. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $3.75 billion, a PE ratio of 19.79, a P/E/G ratio of 1.72 and a beta of 0.93.
Extended Stay America (NYSE:STAY) last issued its earnings results on Thursday, April 26th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ 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 during the quarter, compared to analysts’ expectations of $292.38 million. During the same period in the prior year, the firm posted $0.35 EPS. Extended Stay America’s quarterly revenue was up 2.4% compared to the same quarter last year. equities research analysts expect that Extended Stay America will post 1.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Friday, May 11th will be issued a $0.22 dividend. The ex-dividend date is Thursday, May 10th. This is a boost from Extended Stay America’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.45%. Extended Stay America’s dividend payout ratio is presently 88.00%.
Extended Stay America announced that its board has approved a share buyback program on Tuesday, February 27th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
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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