Clear Harbor Asset Management LLC Purchases Shares of 58,277 Extended Stay America (STAY)
Clear Harbor Asset Management LLC purchased a new stake in Extended Stay America (NYSE:STAY) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 58,277 shares of the company’s stock, valued at approximately $1,046,000.
Other hedge funds have also added to or reduced their stakes in the company. Fox Run Management L.L.C. grew its stake in shares of Extended Stay America by 76.4% in the fourth quarter. Fox Run Management L.L.C. now owns 31,146 shares of the company’s stock valued at $483,000 after acquiring an additional 13,491 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Extended Stay America in the third quarter worth about $287,000. Inlet Private Wealth LLC bought a new position in shares of Extended Stay America in the fourth quarter worth about $245,000. Dimensional Fund Advisors LP raised its holdings in Extended Stay America by 8.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,835,513 shares of the company’s stock valued at $43,952,000 after buying an additional 216,776 shares during the last quarter. Finally, Cohen & Steers Inc. raised its holdings in Extended Stay America by 54.6% during the 3rd quarter. Cohen & Steers Inc. now owns 4,190,714 shares of the company’s stock worth $84,778,000 after purchasing an additional 1,479,627 shares during the last quarter. Institutional investors and hedge funds own 96.67% of the company’s stock.
Several research analysts have issued reports on STAY shares. Morgan Stanley set a $21.00 price target on shares of Extended Stay America and gave the stock a “buy” rating in a report on Thursday, December 20th. Goldman Sachs Group upgraded shares of Extended Stay America from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $22.19.
Extended Stay America (NYSE:STAY) last released its quarterly earnings results on Wednesday, February 27th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. The firm had revenue of $289.70 million for the quarter, compared to the consensus estimate of $288.52 million. During the same quarter in the previous year, the business posted $0.19 EPS. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.22 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.88 annualized dividend and a yield of 4.88%.
About Extended Stay America
Extended Stay America, Inc, together with its subsidiaries, owns, operates, and manages hotels in the United States. As of February 27, 2018, it had 599 hotels and approximately 66,000 rooms, as well as managed 26 hotels under the Extended Stay America brand. It serves customers in the mid-priced extended stay segment.
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