Smith Asset Management Group LP decreased its stake in Extended Stay America, Inc. (NYSE:STAY) by 15.0% during the second quarter, Holdings Channel reports. The fund owned 823,820 shares of the company’s stock after selling 144,870 shares during the period. Smith Asset Management Group LP’s holdings in Extended Stay America were worth $15,949,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its position in Extended Stay America by 3.3% in the first quarter. Public Employees Retirement System of Ohio now owns 28,640 shares of the company’s stock valued at $457,000 after buying an additional 918 shares during the last quarter. Paragon Capital Management Ltd boosted its position in Extended Stay America by 15.1% in the second quarter. Paragon Capital Management Ltd now owns 11,589 shares of the company’s stock valued at $224,000 after buying an additional 1,521 shares during the last quarter. Wright Investors Service Inc. boosted its position in Extended Stay America by 11.1% in the first quarter. Wright Investors Service Inc. now owns 15,270 shares of the company’s stock valued at $243,000 after buying an additional 1,530 shares during the last quarter. Reinhart Partners Inc. boosted its position in Extended Stay America by 1.4% in the second quarter. Reinhart Partners Inc. now owns 141,590 shares of the company’s stock valued at $2,741,000 after buying an additional 1,980 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Extended Stay America by 50.7% in the first quarter. Envestnet Asset Management Inc. now owns 7,898 shares of the company’s stock valued at $126,000 after buying an additional 2,658 shares during the last quarter. Institutional investors and hedge funds own 97.56% of the company’s stock.

Shares of Extended Stay America, Inc. (STAY) opened at 18.75 on Friday. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 24.07 and a beta of 1.06. Extended Stay America, Inc. has a 52 week low of $13.00 and a 52 week high of $20.50. The firm’s 50-day moving average price is $19.50 and its 200 day moving average price is $17.87.

Extended Stay America (NYSE:STAY) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.01. The firm had revenue of $338.36 million for the quarter, compared to analysts’ expectations of $342.70 million. Extended Stay America had a net margin of 5.24% and a return on equity of 14.53%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 EPS. On average, equities research analysts forecast that Extended Stay America, Inc. will post $1.02 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, August 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.48%. Extended Stay America’s payout ratio is 247.06%.

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Several equities analysts recently commented on the company. BidaskClub cut Extended Stay America from a “hold” rating to a “sell” rating in a research report on Friday. Stifel Nicolaus restated a “buy” rating and set a $21.00 target price (up from $20.00) on shares of Extended Stay America in a research report on Thursday, June 29th. TheStreet upgraded Extended Stay America from a “c+” rating to a “b” rating in a research report on Friday, May 5th. Zacks Investment Research cut Extended Stay America from a “buy” rating to a “hold” rating in a research report on Saturday, July 22nd. Finally, ValuEngine upgraded Extended Stay America from a “hold” rating to a “buy” rating in a research report on Saturday, May 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $18.67.

About Extended Stay America

Extended Stay America, Inc is a owner/operator of company-branded hotels in North America. The Company operates in the extended stay lodging industry. The Company owns and operates approximately 700 hotel properties consisting of approximately 75,900 rooms located in 44 states across the United States of America and in Canada.

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

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