Westpac Banking Corp Acquires 79,783 Shares of Extended Stay America, Inc. (NYSE:STAY)

Westpac Banking Corp lifted its holdings in shares of Extended Stay America, Inc. (NYSE:STAY) by 50.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,383 shares of the company’s stock after buying an additional 79,783 shares during the quarter. Westpac Banking Corp owned about 0.12% of Extended Stay America worth $4,768,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Public Employees Retirement Association of Colorado raised 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 valued at $101,000 after buying an additional 2,867 shares in the last quarter. Cable Hill Partners LLC purchased a new stake in shares of Extended Stay America during the 3rd quarter valued at $104,000. The Manufacturers Life Insurance Company raised its position in shares of Extended Stay America by 6.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,181 shares of the company’s stock valued at $120,000 after buying an additional 367 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Extended Stay America during the 2nd quarter valued at $148,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Extended Stay America by 210.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,038 shares of the company’s stock valued at $214,000 after buying an additional 7,486 shares in the last quarter. Institutional investors own 99.60% of the company’s stock.

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STAY has been the topic of several recent research reports. BidaskClub raised shares of Extended Stay America from a “sell” rating to a “hold” rating in a report on Saturday, October 7th. Nomura reduced their target price on shares of Extended Stay America from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. Stifel Nicolaus cut their price target on shares of Extended Stay America from $21.00 to $19.25 and set a “buy” rating on the stock in a report on Wednesday, November 8th. Bank of America Corporation cut their price target on shares of Extended Stay America from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. Finally, ValuEngine cut shares of Extended Stay America from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Extended Stay America currently has an average rating of “Buy” and an average price target of $20.81.

Shares of Extended Stay America, Inc. (NYSE STAY) opened at $16.87 on Tuesday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.94. The company has a market cap of $3,233.33, a P/E ratio of 16.64, a PEG ratio of 3.03 and a beta of 1.05. Extended Stay America, Inc. has a 12 month low of $14.75 and a 12 month high of $20.95.

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

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st will be given a $0.21 dividend. The ex-dividend date is Monday, November 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.98%. Extended Stay America’s payout ratio is currently 215.38%.

Extended Stay America 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.

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

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