Cadence Capital Management LLC Decreases Position in Extended Stay America Inc (STAY)

Cadence Capital Management LLC lowered its stake in Extended Stay America Inc (NYSE:STAY) by 52.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 17,381 shares of the company’s stock after selling 19,019 shares during the period. Cadence Capital Management LLC’s holdings in Extended Stay America were worth $348,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in STAY. California Public Employees Retirement System acquired a new position in Extended Stay America in the 1st quarter valued at about $309,000. Dimensional Fund Advisors LP grew its position in shares of Extended Stay America by 33.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 319,589 shares of the company’s stock worth $5,094,000 after purchasing an additional 80,950 shares in the last quarter. State Street Corp grew its position in shares of Extended Stay America by 6.7% during the 1st quarter. State Street Corp now owns 1,025,601 shares of the company’s stock worth $16,350,000 after purchasing an additional 64,203 shares in the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of Extended Stay America by 122.8% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 5,202 shares of the company’s stock worth $101,000 after purchasing an additional 2,867 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its position in shares of Extended Stay America by 29.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 18,802 shares of the company’s stock worth $363,000 after purchasing an additional 4,243 shares in the last quarter. Institutional investors and hedge funds own 98.47% of the company’s stock.

Shares of Extended Stay America Inc (NYSE:STAY) traded down $0.06 during trading on Thursday, hitting $17.29. 1,935,700 shares of the stock were exchanged, compared to its average volume of 2,163,691. Extended Stay America Inc has a 12 month low of $15.43 and a 12 month high of $20.95. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.11 and a current ratio of 0.11. The company has a market cap of $3,320.00, a P/E ratio of 17.18, a PEG ratio of 3.13 and a beta of 0.98.

Extended Stay America (NYSE:STAY) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). Extended Stay America had a return on equity of 14.53% and a net margin of 5.83%. The firm had revenue of $350.86 million for the quarter, compared to the consensus estimate of $359.70 million. During the same period last year, the company posted $0.36 EPS. The business’s revenue was down 1.0% on a year-over-year basis. equities analysts predict that Extended Stay America Inc will post 0.97 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date was Monday, November 20th. Extended Stay America’s dividend payout ratio (DPR) is presently 215.38%.

A number of brokerages have issued reports on STAY. Robert W. Baird restated a “buy” rating and set a $21.00 target price on shares of Extended Stay America in a research report on Thursday, October 12th. Zacks Investment Research lowered shares of Extended Stay America from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Morgan Stanley decreased their target price on shares of Extended Stay America from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 8th. BidaskClub lowered shares of Extended Stay America from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Finally, Deutsche Bank decreased their target price on shares of Extended Stay America from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $21.03.

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

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