Mercer Global Advisors Inc. ADV bought a new stake in Extended Stay America (NYSE:STAY) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 14,329 shares of the company’s stock, valued at approximately $257,000.
A number of other hedge funds also recently modified their holdings of the business. Advisor Group Inc. boosted its stake in Extended Stay America by 4.9% in the fourth quarter. Advisor Group Inc. now owns 19,060 shares of the company’s stock valued at $296,000 after acquiring an additional 898 shares during the period. Raymond James Trust N.A. boosted its position in shares of Extended Stay America by 5.2% during the first quarter. Raymond James Trust N.A. now owns 29,363 shares of the company’s stock worth $527,000 after buying an additional 1,451 shares during the period. Athena Capital Advisors LLC acquired a new position in shares of Extended Stay America during the fourth quarter worth approximately $31,000. Strs Ohio boosted its position in shares of Extended Stay America by 10.4% during the fourth quarter. Strs Ohio now owns 21,946 shares of the company’s stock worth $340,000 after buying an additional 2,061 shares during the period. Finally, First Bank & Trust boosted its position in shares of Extended Stay America by 52.4% during the fourth quarter. First Bank & Trust now owns 6,630 shares of the company’s stock worth $103,000 after buying an additional 2,279 shares during the period. Institutional investors own 96.67% of the company’s stock.
STAY has been the subject of several analyst reports. Goldman Sachs Group upgraded Extended Stay America from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Monday, March 4th. Zacks Investment Research upgraded Extended Stay America from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Wednesday, May 1st. Finally, Deutsche Bank reiterated a “buy” rating and set a $22.00 price objective on shares of Extended Stay America in a research report on Sunday, May 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. Extended Stay America has a consensus rating of “Buy” and an average target price of $21.69.
Extended Stay America (NYSE:STAY) last announced its earnings results on Wednesday, May 1st. The company reported $0.16 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. The firm had revenue of $277.67 million for the quarter, compared to the consensus estimate of $273.58 million. During the same period in the previous year, the firm earned $0.19 EPS. Extended Stay America’s revenue for the quarter was down 6.7% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be issued a dividend of $0.23 per share. This is a boost from Extended Stay America’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.92 annualized dividend and a yield of 5.21%.
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Extended Stay America Company 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.
See Also: Cost of Equity For A Business, Investors
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