Investors Buy Large Volume of Extended Stay America Call Options (STAY)
Extended Stay America, Inc. (NYSE:STAY) saw unusually large options trading on Monday. Stock investors acquired 12,749 call options on the stock. This is an increase of 1,895% compared to the typical daily volume of 639 call options.
Several equities research analysts recently weighed in on the company. BidaskClub cut Extended Stay America from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research cut Extended Stay America from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd. Stifel Nicolaus reissued a “buy” rating and issued a $21.00 target price (up from $20.00) on shares of Extended Stay America in a research note on Thursday, June 29th. ValuEngine raised Extended Stay America from a “hold” rating to a “buy” rating in a research note on Saturday, May 27th. Finally, TheStreet raised Extended Stay America from a “c+” rating to a “b” rating in a research note on Friday, May 5th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $18.67.
Shares of Extended Stay America (NYSE:STAY) opened at 19.12 on Thursday. The stock has a 50 day moving average price of $19.51 and a 200-day moving average price of $17.75. The stock has a market capitalization of $3.68 billion, a PE ratio of 24.54 and a beta of 1.06. Extended Stay America has a 1-year low of $13.00 and a 1-year high of $20.50.
Extended Stay America (NYSE:STAY) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The company had revenue of $338.36 million during the quarter, compared to the consensus estimate of $342.70 million. Extended Stay America had a return on equity of 14.53% and a net margin of 5.24%. The company’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 earnings per share. On average, analysts forecast that Extended Stay America will post $1.02 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Tuesday, August 15th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, August 11th. This represents a $0.84 annualized dividend and a yield of 4.39%. Extended Stay America’s dividend payout ratio (DPR) is 247.06%.
A number of hedge funds and other institutional investors have recently made changes to their positions in STAY. State Street Corp increased its position in shares of Extended Stay America by 10.3% in the fourth quarter. State Street Corp now owns 961,398 shares of the company’s stock valued at $15,524,000 after buying an additional 89,583 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Extended Stay America by 73.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 238,639 shares of the company’s stock valued at $3,854,000 after buying an additional 101,268 shares during the period. AQR Capital Management LLC acquired a new position in shares of Extended Stay America during the fourth quarter valued at $320,000. Norges Bank acquired a new position in shares of Extended Stay America during the fourth quarter valued at $18,385,000. Finally, Quantitative Systematic Strategies LLC increased its position in shares of Extended Stay America by 35.5% in the first quarter. Quantitative Systematic Strategies LLC now owns 120,600 shares of the company’s stock valued at $1,922,000 after buying an additional 31,565 shares during the period. Hedge funds and other institutional investors own 97.56% of the company’s stock.
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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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