Extended Stay America, Inc. (STAY) Stake Increased by Principal Financial Group Inc.
Principal Financial Group Inc. grew its holdings in shares of Extended Stay America, Inc. (NYSE:STAY) by 84.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,345,342 shares of the company’s stock after acquiring an additional 1,534,871 shares during the period. Principal Financial Group Inc. owned about 1.74% of Extended Stay America worth $64,766,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in STAY. Oxford Asset Management acquired a new position in Extended Stay America in the first quarter worth about $241,000. Cornerstone Capital Management Holdings LLC. grew its stake in Extended Stay America by 474.3% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 801,040 shares of the company’s stock worth $12,768,000 after purchasing an additional 661,554 shares in the last quarter. OppenheimerFunds Inc. grew its stake in Extended Stay America by 4.1% in the first quarter. OppenheimerFunds Inc. now owns 2,783,106 shares of the company’s stock worth $44,363,000 after purchasing an additional 109,486 shares in the last quarter. Morgan Stanley grew its stake in Extended Stay America by 21.5% in the first quarter. Morgan Stanley now owns 1,205,200 shares of the company’s stock worth $19,211,000 after purchasing an additional 213,232 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Extended Stay America by 101.8% in the first quarter. Renaissance Technologies LLC now owns 1,276,400 shares of the company’s stock worth $20,346,000 after purchasing an additional 643,800 shares in the last quarter. Institutional investors own 99.44% of the company’s stock.
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Extended Stay America, Inc. (STAY) opened at 19.58 on Monday. The firm has a 50-day moving average price of $19.27 and a 200-day moving average price of $18.09. The firm has a market capitalization of $3.77 billion, a P/E ratio of 25.13 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.
Extended Stay America (NYSE:STAY) last posted its earnings results 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 business had revenue of $338.36 million during the quarter, compared to the consensus estimate of $342.70 million. Extended Stay America had a net margin of 5.24% and a return on equity of 14.53%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 EPS. Equities analysts forecast that Extended Stay America, Inc. will post $1.02 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Investors of record on Tuesday, August 15th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.84 dividend on an annualized basis and a yield of 4.29%. Extended Stay America’s payout ratio is currently 247.06%.
STAY has been the subject of a number of research reports. ValuEngine upgraded Extended Stay America from a “hold” rating to a “buy” rating in a research note on Saturday, May 27th. Stifel Nicolaus lifted their price target on Extended Stay America from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, May 31st. Zacks Investment Research upgraded 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, June 20th. Finally, BidaskClub upgraded Extended Stay America from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Extended Stay America currently has an average rating of “Buy” and a consensus price target of $19.40.
Extended Stay America 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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