Principal Financial Group Inc. cut its stake in shares of Extended Stay America (NYSE:STAY) by 19.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,656,332 shares of the company’s stock after selling 1,648,785 shares during the period. Principal Financial Group Inc. owned approximately 3.53% of Extended Stay America worth $119,481,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Athena Capital Advisors LLC bought a new stake in Extended Stay America during the fourth quarter worth about $31,000. Quadrant Capital Group LLC bought a new stake in Extended Stay America during the first quarter worth about $48,000. Brandywine Global Investment Management LLC bought a new stake in Extended Stay America during the fourth quarter worth about $108,000. First Quadrant L P CA raised its holdings in Extended Stay America by 97.1% during the first quarter. First Quadrant L P CA now owns 8,562 shares of the company’s stock worth $154,000 after acquiring an additional 4,217 shares in the last quarter. Finally, First Bank & Trust raised its holdings in Extended Stay America by 40.0% during the first quarter. First Bank & Trust now owns 9,282 shares of the company’s stock worth $167,000 after acquiring an additional 2,652 shares in the last quarter. 96.67% of the stock is owned by institutional investors and hedge funds.
Shares of STAY stock traded up $0.26 during trading on Friday, hitting $16.89. The company had a trading volume of 3,319,931 shares, compared to its average volume of 1,809,743. The stock’s 50-day simple moving average is $17.31. Extended Stay America has a one year low of $14.77 and a one year high of $22.37.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This is a boost from Extended Stay America’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 5.45%.
A number of equities analysts have weighed in on the company. Goldman Sachs Group raised Extended Stay America from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Monday, March 4th. Zacks Investment Research downgraded Extended Stay America from a “hold” rating to a “sell” rating in a research report on Tuesday, May 7th. Finally, Deutsche Bank reissued a “buy” rating and set a $22.00 price target on shares of Extended Stay America in a research report on Sunday, May 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $20.36.
Extended Stay America Company Profile
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.
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