Squarepoint Ops LLC raised its position in Extended Stay America (NYSE:STAY) by 141.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 432,583 shares of the company’s stock after purchasing an additional 253,786 shares during the period. Squarepoint Ops LLC owned 0.24% of Extended Stay America worth $6,333,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Extended Stay America by 31.5% during the second quarter. BlackRock Inc. now owns 16,639,370 shares of the company’s stock worth $281,039,000 after purchasing an additional 3,988,717 shares in the last quarter. Investec Asset Management LTD lifted its position in Extended Stay America by 1.8% during the second quarter. Investec Asset Management LTD now owns 8,074,063 shares of the company’s stock valued at $136,371,000 after purchasing an additional 141,560 shares during the last quarter. River Road Asset Management LLC grew its stake in Extended Stay America by 11.8% in the 3rd quarter. River Road Asset Management LLC now owns 5,613,599 shares of the company’s stock worth $82,183,000 after buying an additional 592,283 shares in the last quarter. Long Pond Capital LP grew its stake in Extended Stay America by 191.8% in the 2nd quarter. Long Pond Capital LP now owns 4,547,620 shares of the company’s stock worth $76,809,000 after buying an additional 2,988,907 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of Extended Stay America by 2.3% in the 2nd quarter. Schroder Investment Management Group now owns 4,388,792 shares of the company’s stock worth $74,127,000 after buying an additional 98,373 shares during the last quarter. 96.67% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the company. Jefferies Financial Group lowered Extended Stay America from a “buy” rating to a “hold” rating and dropped their price target for the stock from $24.00 to $16.00 in a research note on Thursday, August 8th. They noted that the move was a valuation call. Nomura lowered Extended Stay America from a “buy” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research report on Friday, November 22nd. Zacks Investment Research cut Extended Stay America from a “hold” rating to a “sell” rating and set a $15.00 price objective on the stock. in a report on Monday, August 12th. Morgan Stanley downgraded Extended Stay America from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $20.00 to $15.00 in a research report on Friday, August 9th. Finally, Barclays set a $17.00 target price on Extended Stay America and gave the stock a “buy” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $17.00.
Shares of NYSE:STAY opened at $14.50 on Tuesday. The company’s fifty day moving average is $14.57 and its 200 day moving average is $15.50. Extended Stay America has a 52 week low of $12.88 and a 52 week high of $19.73.
Extended Stay America (NYSE:STAY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). The business had revenue of $332.70 million for the quarter, compared to analyst estimates of $331.69 million. During the same period last year, the firm posted $0.39 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 6.34%. The ex-dividend date is Tuesday, November 19th.
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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