Extended Stay America Inc. (STAY) Price Target Raised to $15.00
Several other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Extended Stay America from a sell rating to a hold rating in a research note on Tuesday, August 2nd. Citigroup Inc. reduced their price objective on shares of Extended Stay America from $15.50 to $15.00 and set a neutral rating for the company in a research note on Wednesday, August 17th. Deutsche Bank AG reduced their price objective on shares of Extended Stay America from $22.00 to $21.00 and set a buy rating for the company in a research note on Friday, July 29th. Barclays PLC reduced their price objective on shares of Extended Stay America from $21.00 to $19.00 and set an overweight rating for the company in a research note on Friday, July 29th. Finally, Bank of America Corp. reiterated a neutral rating on shares of Extended Stay America in a research note on Monday, July 18th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $17.46.
Extended Stay America (NYSE:STAY) opened at 15.18 on Tuesday. The firm has a 50-day moving average of $14.04 and a 200 day moving average of $14.44. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 25.64 and a beta of 0.92. Extended Stay America has a 12-month low of $10.56 and a 12-month high of $17.40.
Extended Stay America (NYSE:STAY) last released its earnings results on Tuesday, October 25th. The company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.02. Extended Stay America had a net margin of 9.45% and a return on equity of 13.15%. The company earned $354.50 million during the quarter, compared to analysts’ expectations of $268.77 million. During the same quarter last year, the business earned $0.33 EPS. The business’s revenue was down 1.7% on a year-over-year basis. On average, equities analysts predict that Extended Stay America will post $0.93 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, November 8th will be given a $0.19 dividend. The ex-dividend date of this dividend is Friday, November 4th. This represents a $0.76 annualized dividend and a dividend yield of 5.01%. Extended Stay America’s dividend payout ratio is presently 128.81%.
In other Extended Stay America news, insider Jonathan S. Halkyard purchased 10,000 shares of Extended Stay America stock in a transaction on Friday, November 4th. The shares were purchased at an average cost of $13.83 per share, with a total value of $138,300.00. Following the completion of the transaction, the insider now directly owns 319,566 shares in the company, valued at approximately $4,419,597.78. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Paulson & Co. Inc. sold 4,983,333 shares of Extended Stay America stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $14.16, for a total transaction of $70,563,995.28. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in STAY. Huntington National Bank acquired a new position in shares of Extended Stay America during the second quarter worth $111,000. Fuller & Thaler Asset Management Inc. boosted its position in shares of Extended Stay America by 722.8% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 8,310 shares of the company’s stock worth $124,000 after buying an additional 7,300 shares during the period. Barclays PLC boosted its position in shares of Extended Stay America by 2,175.9% in the second quarter. Barclays PLC now owns 9,263 shares of the company’s stock worth $139,000 after buying an additional 8,856 shares during the period. Chicago Equity Partners LLC acquired a new position in shares of Extended Stay America during the second quarter worth $151,000. Finally, Teacher Retirement System of Texas boosted its position in shares of Extended Stay America by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 11,435 shares of the company’s stock worth $171,000 after buying an additional 1,389 shares during the period.
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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