Healthcare of Ontario Pension Plan Trust Fund Reduces Stock Holdings in Extended Stay America, Inc. (NYSE:STAY)

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in Extended Stay America, Inc. (NYSE:STAY) by 81.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 165,000 shares of the company’s stock after selling 707,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.09% of Extended Stay America worth $3,259,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. BNP Paribas Arbitrage SA increased its stake in Extended Stay America by 1.9% in the first quarter. BNP Paribas Arbitrage SA now owns 40,870 shares of the company’s stock valued at $807,000 after purchasing an additional 753 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Extended Stay America by 29.3% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,556 shares of the company’s stock valued at $110,000 after acquiring an additional 1,258 shares during the period. Verdence Capital Advisors LLC lifted its holdings in Extended Stay America by 7.1% in the first quarter. Verdence Capital Advisors LLC now owns 22,463 shares of the company’s stock valued at $444,000 after acquiring an additional 1,495 shares during the period. Meeder Asset Management Inc. lifted its holdings in Extended Stay America by 58.2% in the first quarter. Meeder Asset Management Inc. now owns 4,065 shares of the company’s stock valued at $80,000 after acquiring an additional 1,496 shares during the period. Finally, The PNC Financial Services Group Inc. lifted its holdings in Extended Stay America by 5.6% in the first quarter. The PNC Financial Services Group Inc. now owns 32,355 shares of the company’s stock valued at $640,000 after acquiring an additional 1,725 shares during the period. Institutional investors own 96.67% of the company’s stock.

STAY opened at $20.46 on Friday. The company has a 50-day simple moving average of $19.94. Extended Stay America, Inc. has a 12 month low of $10.64 and a 12 month high of $20.47.

Extended Stay America (NYSE:STAY) last posted its quarterly earnings results on Monday, May 10th. The company reported $0.04 EPS for the quarter. The business had revenue of $257.80 million during the quarter, compared to analysts’ expectations of $252.40 million. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 EPS.

The company also recently announced a dividend, which was paid on Wednesday, June 16th. Stockholders of record on Tuesday, June 15th were issued a dividend of $1.75 per share. The ex-dividend date of this dividend was Monday, June 14th. This is a boost from Extended Stay America’s previous dividend of $0.35.

In other news, Director Kapila K. Anand sold 41,001 shares of the business’s stock in a transaction dated Wednesday, June 16th. The stock was sold at an average price of $18.75, for a total transaction of $768,768.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by insiders.

Several research firms have recently issued reports on STAY. Zacks Investment Research raised Extended Stay America from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Tuesday, May 25th. Jefferies Financial Group reaffirmed a “hold” rating and set a $19.50 price target on shares of Extended Stay America in a research note on Tuesday, March 16th. Morgan Stanley lifted their price target on Extended Stay America from $16.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, May 17th. Robert W. Baird raised Extended Stay America from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $15.00 to $19.00 in a research note on Tuesday, March 9th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $19.50 price target (up previously from $17.50) on shares of Extended Stay America in a research note on Tuesday, March 23rd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $18.18.

About Extended Stay America

Extended Stay America, Inc, together with its subsidiaries, owns, operates, develops, and manages hotels in the United States. As of December 31, 2020, the company had a network of 646 hotels. It serves customers in the mid-priced extended stay segment. The company also licenses Extended Stay America brand to third-party franchisees.

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Institutional Ownership by Quarter for Extended Stay America (NYSE:STAY)

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