Extended Stay America (NYSE:STAY) has received a consensus rating of “Buy” from the twelve analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $22.83.
Several equities analysts have weighed in on the company. Zacks Investment Research downgraded Extended Stay America from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. JPMorgan Chase & Co. lifted their target price on Extended Stay America from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $22.50 target price on shares of Extended Stay America in a research report on Thursday, July 26th. Jefferies Financial Group assumed coverage on Extended Stay America in a research report on Thursday, May 31st. They issued a “buy” rating and a $26.00 target price for the company. Finally, Morgan Stanley raised Extended Stay America from an “equal” rating to an “overweight” rating and set a $23.00 target price for the company in a research report on Thursday, May 31st.
Shares of NYSE:STAY traded down $0.04 during midday trading on Friday, reaching $19.85. 1,133,953 shares of the company’s stock were exchanged, compared to its average volume of 1,634,027. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 2.54 and a beta of 0.96. Extended Stay America has a fifty-two week low of $16.27 and a fifty-two week high of $22.58.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 23rd. Shareholders of record on Thursday, August 9th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Wednesday, August 8th. Extended Stay America’s dividend payout ratio is currently 88.00%.
In other news, insider Ames Flynn sold 1,390 shares of the business’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $21.47, for a total transaction of $29,843.30. Following the completion of the transaction, the insider now directly owns 55,713 shares of the company’s stock, valued at $1,196,158.11. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard F. Wallman sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $21.49, for a total value of $322,350.00. Following the transaction, the director now directly owns 110,798 shares of the company’s stock, valued at $2,381,049.02. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Hilltop Holdings Inc. purchased a new stake in Extended Stay America during the first quarter worth approximately $201,000. Bayesian Capital Management LP purchased a new stake in Extended Stay America during the first quarter worth approximately $293,000. Asset Management One Co. Ltd. lifted its stake in Extended Stay America by 119.1% during the first quarter. Asset Management One Co. Ltd. now owns 15,339 shares of the company’s stock worth $303,000 after purchasing an additional 8,339 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Extended Stay America by 35.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,194 shares of the company’s stock worth $307,000 after purchasing an additional 3,715 shares during the last quarter. Finally, Tiverton Asset Management LLC purchased a new stake in Extended Stay America during the second quarter worth approximately $319,000. 96.67% of the stock is owned by institutional investors and hedge funds.
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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