Pitcairn Co. Takes Position in Extended Stay America, Inc. (STAY)
Pitcairn Co. purchased a new stake in Extended Stay America, Inc. (NYSE:STAY) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,105 shares of the company’s stock, valued at approximately $222,000.
A number of other hedge funds also recently bought and sold shares of STAY. Wellington Management Group LLP bought a new position in Extended Stay America in the first quarter valued at approximately $1,257,000. California Public Employees Retirement System bought a new position in Extended Stay America in the first quarter valued at approximately $309,000. Legal & General Group Plc grew its stake in Extended Stay America by 253.7% in the first quarter. Legal & General Group Plc now owns 32,601 shares of the company’s stock valued at $520,000 after purchasing an additional 23,383 shares in the last quarter. Vanguard Group Inc. grew its stake in Extended Stay America by 20.5% in the first quarter. Vanguard Group Inc. now owns 10,100,858 shares of the company’s stock valued at $161,008,000 after purchasing an additional 1,718,428 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Extended Stay America by 2.7% in the first quarter. Geode Capital Management LLC now owns 769,114 shares of the company’s stock valued at $12,258,000 after purchasing an additional 19,987 shares in the last quarter. Hedge funds and other institutional investors own 99.60% of the company’s stock.
A number of research analysts have weighed in on the company. Robert W. Baird restated a “buy” rating and issued a $21.00 price target on shares of Extended Stay America in a research note on Thursday, October 12th. Zacks Investment Research downgraded Extended Stay America from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. BidaskClub downgraded Extended Stay America from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Morgan Stanley decreased their price target on Extended Stay America from $20.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 8th. Finally, Deutsche Bank AG decreased their price target on Extended Stay America from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $20.81.
Shares of Extended Stay America, Inc. (NYSE STAY) traded down $0.69 during midday trading on Monday, hitting $16.81. The stock had a trading volume of 6,234,300 shares, compared to its average volume of 2,175,235. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.11 and a quick ratio of 0.11. Extended Stay America, Inc. has a one year low of $14.75 and a one year high of $20.95. The company has a market cap of $3,233.33, a P/E ratio of 16.64, a P/E/G ratio of 3.03 and a beta of 1.05.
Extended Stay America (NYSE:STAY) last issued its earnings results on Tuesday, November 7th. The company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). Extended Stay America had a return on equity of 14.53% and a net margin of 5.83%. The business had revenue of $350.86 million for the quarter, compared to the consensus estimate of $359.70 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year. equities analysts predict that Extended Stay America, Inc. will post 0.97 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, November 20th. This represents a $0.84 annualized dividend and a dividend yield of 5.00%. Extended Stay America’s dividend payout ratio is currently 215.38%.
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Extended Stay America Company Profile
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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