Sequoia Financial Advisors LLC decreased its stake in shares of Extended Stay America (NYSE:STAY) by 6.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,136 shares of the company’s stock after selling 1,587 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Extended Stay America were worth $408,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of STAY. Quadrant Capital Group LLC acquired a new position in shares of Extended Stay America during the 1st quarter worth approximately $48,000. First Quadrant L P CA increased its position in shares of Extended Stay America by 97.1% during the 1st quarter. First Quadrant L P CA now owns 8,562 shares of the company’s stock worth $154,000 after purchasing an additional 4,217 shares during the last quarter. First Bank & Trust increased its position in shares of Extended Stay America by 40.0% during the 1st quarter. First Bank & Trust now owns 9,282 shares of the company’s stock worth $167,000 after purchasing an additional 2,652 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Extended Stay America during the 1st quarter worth approximately $171,000. Finally, Cigna Investments Inc. New acquired a new position in shares of Extended Stay America during the 1st quarter worth approximately $190,000. 96.67% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE STAY traded down $0.38 during midday trading on Wednesday, hitting $14.49. 30,187 shares of the company’s stock were exchanged, compared to its average volume of 1,832,630. Extended Stay America has a 12 month low of $12.88 and a 12 month high of $21.26. The business has a 50 day moving average of $16.26.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, August 20th. This represents a $0.92 annualized dividend and a dividend yield of 6.35%.
In other Extended Stay America news, insider Jonathan S. Halkyard bought 10,000 shares of Extended Stay America stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $14.63 per share, for a total transaction of $146,300.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.72% of the company’s stock.
Several research firms have weighed in on STAY. Deutsche Bank set a $22.00 price target on Extended Stay America and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Stifel Nicolaus lowered their price target on Extended Stay America from $20.50 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley lowered Extended Stay America from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $20.00 to $15.00 in a research report on Friday, August 9th. Nomura reaffirmed a “buy” rating and set a $20.00 price target on shares of Extended Stay America in a research report on Thursday, August 8th. Finally, Zacks Investment Research lowered Extended Stay America from a “hold” rating to a “sell” rating and set a $15.00 price target on the stock. in a research report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $18.70.
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.
Featured Article: What is a CD ladder?
Want to see what other hedge funds are holding STAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Extended Stay America (NYSE:STAY).
Receive News & Ratings for Extended Stay America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extended Stay America and related companies with MarketBeat.com's FREE daily email newsletter.