Summit Global Investments Invests $513,000 in Extended Stay America, Inc. (STAY)
Summit Global Investments bought a new stake in Extended Stay America, Inc. (NYSE:STAY) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 26,500 shares of the company’s stock, valued at approximately $513,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. Capital Fund Management S.A. acquired a new position in shares of Extended Stay America in the 2nd quarter valued at about $1,067,000. CI Investments Inc. acquired a new position in shares of Extended Stay America in the 2nd quarter valued at about $10,454,000. Alliancebernstein L.P. increased its holdings in shares of Extended Stay America by 225.9% in the 2nd quarter. Alliancebernstein L.P. now owns 89,345 shares of the company’s stock valued at $1,730,000 after purchasing an additional 61,930 shares during the period. AMG Funds LLC acquired a new position in shares of Extended Stay America in the 2nd quarter valued at about $2,156,000. Finally, AXA increased its holdings in shares of Extended Stay America by 8.1% in the 2nd quarter. AXA now owns 235,000 shares of the company’s stock valued at $4,549,000 after purchasing an additional 17,700 shares during the period. Institutional investors own 99.44% of the company’s stock.
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Extended Stay America, Inc. (NYSE STAY) opened at 19.75 on Wednesday. The firm has a market cap of $3.80 billion, a P/E ratio of 25.35 and a beta of 1.06. The company has a 50-day moving average price of $19.17 and a 200-day moving average price of $18.16. Extended Stay America, Inc. has a 12-month low of $13.00 and a 12-month high of $20.50.
Extended Stay America (NYSE:STAY) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.01). Extended Stay America had a net margin of 5.24% and a return on equity of 14.53%. The business had revenue of $338.36 million for the quarter, compared to the consensus estimate of $342.70 million. During the same quarter last year, the firm earned $0.31 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts predict that Extended Stay America, Inc. will post $1.02 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 15th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend was Friday, August 11th. Extended Stay America’s payout ratio is 247.06%.
A number of equities analysts have recently weighed in on the company. Robert W. Baird reiterated a “buy” rating and issued a $21.00 target price on shares of Extended Stay America in a report on Friday, September 8th. BidaskClub downgraded Extended Stay America from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Zacks Investment Research upgraded Extended Stay America from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Tuesday, June 20th. ValuEngine upgraded Extended Stay America from a “hold” rating to a “buy” rating in a report on Saturday, May 27th. Finally, Stifel Nicolaus upped their target price on Extended Stay America from $19.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, May 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $19.67.
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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