Cigna Investments Inc. New lowered its stake in shares of Extended Stay America, Inc. (NYSE:STAY) by 34.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,055 shares of the company’s stock after selling 27,709 shares during the period. Cigna Investments Inc. New’s holdings in Extended Stay America were worth $1,027,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its stake in shares of Extended Stay America by 3.3% in the first quarter. Public Employees Retirement System of Ohio now owns 28,640 shares of the company’s stock valued at $457,000 after buying an additional 918 shares in the last quarter. Paragon Capital Management Ltd boosted its stake in shares of Extended Stay America by 15.1% in the second quarter. Paragon Capital Management Ltd now owns 11,589 shares of the company’s stock valued at $224,000 after buying an additional 1,521 shares in the last quarter. Wright Investors Service Inc. boosted its stake in shares of Extended Stay America by 11.1% in the first quarter. Wright Investors Service Inc. now owns 15,270 shares of the company’s stock valued at $243,000 after buying an additional 1,530 shares in the last quarter. Reinhart Partners Inc. boosted its stake in shares of Extended Stay America by 1.4% in the second quarter. Reinhart Partners Inc. now owns 141,590 shares of the company’s stock valued at $2,741,000 after buying an additional 1,980 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Extended Stay America by 50.7% in the first quarter. Envestnet Asset Management Inc. now owns 7,898 shares of the company’s stock valued at $126,000 after buying an additional 2,658 shares in the last quarter. 97.56% of the stock is owned by institutional investors and hedge funds.

Shares of Extended Stay America, Inc. (NYSE:STAY) opened at 18.77 on Friday. The company has a 50-day moving average of $19.51 and a 200-day moving average of $17.85. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 24.09 and a beta of 1.06. Extended Stay America, Inc. has a 52-week low of $13.00 and a 52-week high of $20.50.

Extended Stay America (NYSE:STAY) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $338.36 million for the quarter, compared to analyst estimates of $342.70 million. Extended Stay America had a return on equity of 14.53% and a net margin of 5.24%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Equities research analysts anticipate that Extended Stay America, Inc. will post $1.02 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Tuesday, August 15th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.84 dividend on an annualized basis and a yield of 4.48%. Extended Stay America’s payout ratio is presently 247.06%.

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Several brokerages have recently issued reports on STAY. Stifel Nicolaus restated a “buy” rating and set a $21.00 target price (up from $20.00) on shares of Extended Stay America in a research report on Thursday, June 29th. TheStreet upgraded shares of Extended Stay America from a “c+” rating to a “b” rating in a research report on Friday, May 5th. BidaskClub cut shares of Extended Stay America from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 8th. Zacks Investment Research cut shares of Extended Stay America from a “buy” rating to a “hold” rating in a research report on Saturday, July 22nd. Finally, ValuEngine upgraded shares of Extended Stay America from a “hold” rating to a “buy” rating in a research report on Saturday, May 27th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $18.67.

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

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