Extended Stay America, Inc. (NYSE:STAY) had its price objective decreased by Bank of America Corporation from $24.00 to $21.00 in a research note released on Wednesday, November 8th. Bank of America Corporation currently has a buy rating on the stock.
A number of other brokerages also recently weighed in on STAY. BidaskClub downgraded Extended Stay America from a hold rating to a sell rating in a report on Friday, August 11th. Stifel Nicolaus lowered their price target on Extended Stay America from $21.00 to $19.25 and set a buy rating on the stock in a report on Wednesday, November 8th. ValuEngine downgraded Extended Stay America from a buy rating to a hold rating in a research note on Tuesday, November 7th. Morgan Stanley lowered their target price on Extended Stay America from $20.00 to $18.00 and set an equal weight rating on the stock in a research note on Wednesday, November 8th. Finally, Nomura lowered their target price on Extended Stay America from $26.00 to $23.00 and set a buy rating on the stock in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. Extended Stay America has a consensus rating of Buy and an average target price of $20.81.
Shares of Extended Stay America (NYSE:STAY) opened at $17.24 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a market capitalization of $3,300.00, a P/E ratio of 16.98, a P/E/G ratio of 3.09 and a beta of 1.05. Extended Stay America has a 1-year low of $15.43 and a 1-year high of $20.95.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 21st will be given a dividend of $0.21 per share. The ex-dividend date is Monday, November 20th. This represents a $0.84 annualized dividend and a dividend yield of 4.87%. Extended Stay America’s dividend payout ratio is presently 215.38%.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Extended Stay America by 49.9% during the second quarter. Vanguard Group Inc. now owns 15,145,372 shares of the company’s stock valued at $293,215,000 after acquiring an additional 5,044,514 shares during the period. BlackRock Inc. increased its stake in Extended Stay America by 82.3% during the second quarter. BlackRock Inc. now owns 12,118,235 shares of the company’s stock valued at $234,608,000 after acquiring an additional 5,469,312 shares during the period. Investec Asset Management LTD increased its stake in Extended Stay America by 2.2% during the second quarter. Investec Asset Management LTD now owns 8,874,263 shares of the company’s stock valued at $171,806,000 after acquiring an additional 189,347 shares during the period. Principal Financial Group Inc. increased its stake in Extended Stay America by 100.6% during the third quarter. Principal Financial Group Inc. now owns 6,710,452 shares of the company’s stock valued at $134,209,000 after acquiring an additional 3,365,110 shares during the period. Finally, Hamlin Capital Management LLC bought a new position in Extended Stay America during the second quarter valued at about $102,091,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.
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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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