Alliancebernstein L.P. Has $2.55 Million Holdings in Extended Stay America Inc (STAY)

Alliancebernstein L.P. boosted its position in shares of Extended Stay America Inc (NYSE:STAY) by 44.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,241 shares of the company’s stock after acquiring an additional 41,176 shares during the quarter. Alliancebernstein L.P. owned 0.07% of Extended Stay America worth $2,551,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STAY. The Manufacturers Life Insurance Company raised its position in Extended Stay America by 6.3% during the second quarter. The Manufacturers Life Insurance Company now owns 6,181 shares of the company’s stock worth $120,000 after acquiring an additional 367 shares in the last quarter. Nationwide Fund Advisors raised its position in Extended Stay America by 1.6% during the third quarter. Nationwide Fund Advisors now owns 216,144 shares of the company’s stock worth $4,323,000 after acquiring an additional 3,394 shares in the last quarter. Bank of New York Mellon Corp raised its position in Extended Stay America by 19.0% during the third quarter. Bank of New York Mellon Corp now owns 668,118 shares of the company’s stock worth $13,364,000 after acquiring an additional 106,486 shares in the last quarter. Great West Life Assurance Co. Can raised its position in Extended Stay America by 27.2% during the third quarter. Great West Life Assurance Co. Can now owns 23,924 shares of the company’s stock worth $478,000 after acquiring an additional 5,122 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Extended Stay America by 17.8% during the third quarter. Legal & General Group Plc now owns 72,225 shares of the company’s stock worth $1,445,000 after acquiring an additional 10,912 shares in the last quarter. 98.89% of the stock is currently owned by hedge funds and other institutional investors.

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In other news, insider Kevin A. Henry sold 10,000 shares of the stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $19.23, for a total value of $192,300.00. Following the transaction, the insider now directly owns 117,196 shares of the company’s stock, valued at $2,253,679.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is owned by corporate insiders.

Several analysts have issued reports on the stock. ValuEngine raised shares of Extended Stay America from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Barclays reaffirmed an “overweight” rating and set a $22.00 price target (up from $21.00) on shares of Extended Stay America in a research report on Wednesday, February 28th. Zacks Investment Research raised shares of Extended Stay America from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Wednesday, February 21st. Stifel Nicolaus reissued a “buy” rating and issued a $20.50 price objective on shares of Extended Stay America in a research report on Tuesday, January 9th. Finally, JPMorgan Chase raised shares of Extended Stay America from a “neutral” rating to an “overweight” rating and set a $21.00 price objective on the stock in a research report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $21.06.

Shares of STAY opened at $19.74 on Friday. The stock has a market capitalization of $3,768.69, a PE ratio of 19.74, a P/E/G ratio of 3.50 and a beta of 0.93. Extended Stay America Inc has a fifty-two week low of $16.10 and a fifty-two week high of $21.28. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.12 and a current ratio of 0.12.

Extended Stay America (NYSE:STAY) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.02. The company had revenue of $302.50 million for the quarter, compared to analyst estimates of $299.75 million. Extended Stay America had a net margin of 6.15% and a return on equity of 14.42%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 earnings per share. equities research analysts anticipate that Extended Stay America Inc will post 1.1 EPS for the current fiscal year.

Extended Stay America declared that its board has approved a share repurchase program on Tuesday, February 27th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 27th. Stockholders of record on Tuesday, March 13th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend was Monday, March 12th. Extended Stay America’s payout ratio is presently 84.00%.

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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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