Gluskin Sheff & Assoc Inc. acquired a new stake in shares of Extended Stay America Inc (NYSE:STAY) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,553,734 shares of the company’s stock, valued at approximately $36,989,000. Extended Stay America accounts for 2.6% of Gluskin Sheff & Assoc Inc.’s portfolio, making the stock its 17th largest position.
A number of other institutional investors have also modified their holdings of the stock. Burgundy Asset Management Ltd. acquired a new position in shares of Extended Stay America during the fourth quarter valued at about $18,823,000. LMR Partners LLP purchased a new position in Extended Stay America during the third quarter valued at about $2,840,000. Monashee Investment Management LLC purchased a new position in Extended Stay America during the third quarter valued at about $4,310,000. Paulson & CO. Inc. purchased a new position in Extended Stay America during the fourth quarter valued at about $455,411,000. Finally, Quantitative Systematic Strategies LLC raised its position in 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 in the last quarter. 88.14% of the stock is currently owned by institutional investors.
Extended Stay America Inc (NYSE:STAY) traded up 1.08% during trading on Friday, reaching $17.81. 1,710,927 shares of the company’s stock traded hands. Extended Stay America Inc has a 12-month low of $13.00 and a 12-month high of $18.65. The company has a 50 day moving average price of $17.27 and a 200-day moving average price of $16.48. The company has a market cap of $3.46 billion, a PE ratio of 46.50 and a beta of 1.00.
Extended Stay America (NYSE:STAY) last announced its quarterly earnings data on Thursday, April 27th. The company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. Extended Stay America had a net margin of 9.45% and a return on equity of 13.15%. The business had revenue of $291 million for the quarter, compared to analyst estimates of $290.20 million. During the same period last year, the business earned $0.13 EPS. The company’s revenue was up 1.2% on a year-over-year basis. On average, equities research analysts forecast that Extended Stay America Inc will post $1.04 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 25th. Stockholders of record on Thursday, May 11th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.77%. This is a positive change from Extended Stay America’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, May 9th. Extended Stay America’s dividend payout ratio (DPR) is presently 128.81%.
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Several research firms have issued reports on STAY. TheStreet raised shares of Extended Stay America from a “c+” rating to a “b” rating in a report on Friday, May 5th. Stifel Nicolaus lifted their price target on shares of Extended Stay America from $18.50 to $19.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Zacks Investment Research lowered shares of Extended Stay America from a “buy” rating to a “hold” rating in a report on Friday, March 3rd. Finally, Barclays PLC set a $22.00 price target on shares of Extended Stay America and gave the stock a “buy” rating in a report on Tuesday, February 14th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $18.11.
In other news, Director Douglas Gerard Geoga acquired 15,000 shares of Extended Stay America stock in a transaction dated Friday, March 10th. The shares were acquired at an average cost of $16.46 per share, for a total transaction of $246,900.00. Following the acquisition, the director now owns 126,408 shares of the company’s stock, valued at $2,080,675.68. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Paulson & Co. Inc. sold 10,250,000 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $17.23, for a total transaction of $176,607,500.00. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by company insiders.
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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