Extended Stay America (NYSE:STAY) had its price target raised by Bank of America from $19.00 to $20.00 in a report issued on Friday. The firm currently has a neutral rating on the stock.
Several other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Extended Stay America from $24.00 to $25.00 and gave the stock an overweight rating in a report on Friday, July 27th. Zacks Investment Research downgraded Extended Stay America from a hold rating to a sell rating in a report on Thursday, September 27th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $22.50 price objective on shares of Extended Stay America in a report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $22.45.
NYSE STAY traded down $0.37 during trading hours on Friday, hitting $18.01. 1,703,706 shares of the company were exchanged, compared to its average volume of 1,639,817. Extended Stay America has a 52-week low of $15.73 and a 52-week high of $22.58.
Extended Stay America (NYSE:STAY) last issued its quarterly earnings results on Wednesday, October 31st. The company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The company had revenue of $351.10 million for the quarter, compared to analysts’ expectations of $344.17 million. During the same quarter last year, the company earned $0.35 EPS. Extended Stay America’s revenue for the quarter was up .1% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 29th. Stockholders of record on Thursday, November 15th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.89%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in STAY. Schroder Investment Management Group increased its holdings in shares of Extended Stay America by 998.7% in the 2nd quarter. Schroder Investment Management Group now owns 3,052,990 shares of the company’s stock valued at $65,609,000 after acquiring an additional 2,775,117 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new position in shares of Extended Stay America in the 3rd quarter valued at about $31,942,000. Jennison Associates LLC purchased a new position in shares of Extended Stay America in the 2nd quarter valued at about $22,283,000. Long Pond Capital LP purchased a new position in shares of Extended Stay America in the 2nd quarter valued at about $18,840,000. Finally, Brown Advisory Inc. increased its holdings in shares of Extended Stay America by 43.0% in the 2nd quarter. Brown Advisory Inc. now owns 2,563,073 shares of the company’s stock valued at $55,389,000 after acquiring an additional 770,822 shares during the last quarter. Institutional investors and hedge funds own 96.67% 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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