Shell Asset Management Co. Takes $396,000 Position in Extended Stay America (STAY)

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Shell Asset Management Co. acquired a new position in shares of Extended Stay America (NYSE:STAY) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,591 shares of the company’s stock, valued at approximately $396,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Jennison Associates LLC purchased a new position in Extended Stay America in the 2nd quarter valued at approximately $22,283,000. Barings LLC purchased a new position in Extended Stay America in the 2nd quarter valued at approximately $637,000. Virginia Retirement Systems ET AL increased its stake in Extended Stay America by 307.6% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 263,300 shares of the company’s stock valued at $5,690,000 after purchasing an additional 198,700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Extended Stay America by 35.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,194 shares of the company’s stock valued at $307,000 after purchasing an additional 3,715 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Extended Stay America by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 201,447 shares of the company’s stock valued at $4,353,000 after purchasing an additional 2,531 shares in the last quarter. Hedge funds and other institutional investors own 96.67% of the company’s stock.

Extended Stay America stock opened at $17.77 on Friday. Extended Stay America has a fifty-two week low of $15.73 and a fifty-two week high of $22.58.

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

The business also recently declared a quarterly dividend, which was paid on Thursday, November 29th. Shareholders of record on Thursday, November 15th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend was Wednesday, November 14th.

Several equities analysts recently weighed in on the company. Zacks Investment Research reaffirmed a “hold” rating on shares of Extended Stay America in a research note on Friday, November 16th. Bank of America raised their price objective on Extended Stay America from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, November 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on Extended Stay America from $25.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, November 2nd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $22.56.

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

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