Extended Stay America (NYSE:STAY) had its price objective lifted by Morgan Stanley from $19.00 to $20.00 in a research note issued to investors on Monday. They currently have an equal weight rating on the stock.
Other equities research analysts have also issued reports about the stock. ValuEngine upgraded shares of Extended Stay America from a hold rating to a buy rating in a report on Monday, April 2nd. Barclays restated an overweight rating and issued a $22.00 price objective (up from $21.00) on shares of Extended Stay America in a report on Wednesday, February 28th. Zacks Investment Research upgraded shares of Extended Stay America from a hold rating to a buy rating and set a $22.00 price objective for the company in a report on Wednesday, February 21st. Stifel Nicolaus restated a buy rating and issued a $20.50 price objective on shares of Extended Stay America in a report on Tuesday, January 9th. Finally, JPMorgan Chase upgraded shares of Extended Stay America from a neutral rating to an overweight rating and set a $21.00 price objective for the company in a report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $21.28.
Shares of Extended Stay America stock opened at $20.30 on Monday. Extended Stay America has a 1 year low of $16.27 and a 1 year high of $21.28. The company has a market cap of $3,850.87, a price-to-earnings ratio of 20.15, a P/E/G ratio of 3.57 and a beta of 0.93. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.12 and a quick ratio of 0.12.
Extended Stay America declared that its Board of Directors has approved a stock repurchase program on Tuesday, February 27th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 27th. Investors of record on Tuesday, March 13th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend was Monday, March 12th. Extended Stay America’s payout ratio is 84.00%.
In related news, insider Kevin A. Henry sold 10,000 shares of Extended Stay America stock in a transaction on 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 SEC, which can be accessed through this link. 0.57% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in shares of Extended Stay America by 6.3% in the second quarter. The Manufacturers Life Insurance Company now owns 6,181 shares of the company’s stock worth $120,000 after buying an additional 367 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Extended Stay America by 46.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,479 shares of the company’s stock worth $199,000 after buying an additional 3,340 shares during the period. Nationwide Fund Advisors increased its stake in shares of Extended Stay America by 1.6% in the third quarter. Nationwide Fund Advisors now owns 216,144 shares of the company’s stock worth $4,323,000 after buying an additional 3,394 shares during the period. Stifel Financial Corp increased its stake in shares of Extended Stay America by 10.8% in the third quarter. Stifel Financial Corp now owns 45,321 shares of the company’s stock worth $906,000 after buying an additional 4,406 shares during the period. Finally, Kirr Marbach & Co. LLC IN increased its stake in shares of Extended Stay America by 0.7% in the fourth quarter. Kirr Marbach & Co. LLC IN now owns 623,359 shares of the company’s stock worth $11,844,000 after buying an additional 4,602 shares during the period. 98.89% of the stock is currently owned by institutional investors.
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Extended Stay America Company Profile
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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