River Road Asset Management LLC Lowers Position in Extended Stay America (STAY)

River Road Asset Management LLC trimmed its position in Extended Stay America (NYSE:STAY) by 6.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,465,042 shares of the company’s stock after selling 236,397 shares during the quarter. Extended Stay America makes up 1.5% of River Road Asset Management LLC’s portfolio, making the stock its 12th biggest position. River Road Asset Management LLC owned 1.83% of Extended Stay America worth $70,098,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in STAY. Iberiabank Corp acquired a new stake in Extended Stay America in the third quarter worth about $251,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Extended Stay America by 35.5% in 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 period. Tiverton Asset Management LLC acquired a new stake in Extended Stay America in the second quarter worth about $319,000. James Investment Research Inc. increased its position in Extended Stay America by 34.0% in the second quarter. James Investment Research Inc. now owns 14,973 shares of the company’s stock worth $324,000 after purchasing an additional 3,800 shares during the period. Finally, Hilltop Holdings Inc. increased its position in Extended Stay America by 51.3% in the second quarter. Hilltop Holdings Inc. now owns 15,372 shares of the company’s stock worth $333,000 after purchasing an additional 5,212 shares during the period. Hedge funds and other institutional investors own 96.67% of the company’s stock.

Shares of STAY opened at $18.01 on Friday. Extended Stay America has a 1 year low of $15.73 and a 1 year high of $22.58.

Extended Stay America (NYSE:STAY) last issued its earnings results on Wednesday, October 31st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. The company had revenue of $351.10 million for the quarter, compared to the consensus estimate of $344.17 million. During the same quarter last year, the business posted $0.35 EPS. Extended Stay America’s quarterly revenue was up .1% on a year-over-year basis.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 29th. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date is Wednesday, November 14th.

A number of equities analysts have issued reports on STAY shares. Stifel Nicolaus restated a “buy” rating and set a $22.50 target price on shares of Extended Stay America in a report on Thursday, July 26th. Zacks Investment Research cut Extended Stay America from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Bank of America raised their target price on Extended Stay America from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday. Finally, JPMorgan Chase & Co. reduced their target price on Extended Stay America from $25.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $22.45.

Extended Stay America Profile

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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Institutional Ownership by Quarter for Extended Stay America (NYSE:STAY)

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