Bailard Inc. increased its holdings in Extended Stay America (NYSE:STAY) by 13.9% during the third quarter, Holdings Channel reports. The fund owned 87,116 shares of the company’s stock after acquiring an additional 10,646 shares during the quarter. Bailard Inc.’s holdings in Extended Stay America were worth $1,762,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Eqis Capital Management Inc. acquired a new position in shares of Extended Stay America in the 2nd quarter valued at about $409,000. Jennison Associates LLC acquired a new position in shares of Extended Stay America in the 2nd quarter valued at about $22,283,000. Barings LLC acquired a new position in shares of Extended Stay America in the 2nd quarter valued at about $637,000. Virginia Retirement Systems ET AL lifted its stake in shares of Extended Stay America by 307.6% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 263,300 shares of the company’s stock valued at $5,690,000 after purchasing an additional 198,700 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Extended Stay America by 35.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,194 shares of the company’s stock valued at $307,000 after purchasing an additional 3,715 shares in the last quarter. Institutional investors own 96.67% of the company’s stock.
Several equities analysts have recently weighed in on STAY shares. Zacks Investment Research reaffirmed a “hold” rating on shares of Extended Stay America in a research note on Friday, November 16th. Bank of America lifted their price objective on Extended Stay America from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, November 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on Extended Stay America from $25.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, November 2nd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $22.56.
NYSE STAY opened at $17.84 on Friday. Extended Stay America has a 1-year low of $15.73 and a 1-year high of $22.58.
Extended Stay America (NYSE:STAY) last announced its earnings results on Wednesday, October 31st. The company reported $0.39 EPS for the quarter, beating the 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. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 earnings per share.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 29th. Investors of record on Thursday, November 15th were issued a dividend of $0.22 per share. The ex-dividend date was Wednesday, November 14th. This represents a $0.88 annualized dividend and a dividend yield of 4.93%.
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About Extended Stay America
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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