November 23, 2016 - By Richard Conner
Extended Stay America Inc’s insider Blackstone Real Estate Partners Vi.A-Esh L.P. unloaded 4,675,000 shares of the public company in an open market trade dated 22/11/2016. The transaction’s shares were unloaded at an average market price per share of $14.8, for an aggregate transaction of $69,003,000. This substantial stocks unloading is sure to get professionals talking about the company. Blackstone Real Estate Partners Vi.A-Esh L.P. now owns 100,372 shares of Extended Stay America Inc. The transaction, dated 22/11/2016, is recorded on a Form 4 that was filed with the Security and Exchange Commission and is also accessible online here.
Out of 7 analysts covering Extended Stay America (NYSE:STAY), 2 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 29% are positive. $26 is the highest target while $14 is the lowest. The $18.50 average target is 20.05% above today’s ($15.41) stock price. Extended Stay America has been the topic of 11 analyst reports since August 3, 2015 according to StockzIntelligence Inc. As per Wednesday, August 17, the company rating was maintained by Citigroup. On Monday, September 26 the stock rating was initiated by Goldman Sachs with “Neutral”. The stock of Extended Stay America Inc (NYSE:STAY) earned “Underperform” rating by Bank of America on Tuesday, July 21. M Partners downgraded the shares of STAY in a report on Thursday, January 14 to “Neutral” rating. The rating was maintained by Deutsche Bank on Friday, July 31 with “Buy”. The company was upgraded on Monday, August 3 by Robert W. Baird. On Wednesday, October 28 the stock rating was maintained by Deutsche Bank with “Buy”.
Insitutional Activity: The institutional sentiment decreased to 1.22 in Q2 2016. Its down 0.44, from 1.66 in 2016Q1. The ratio dropped, as 14 funds sold all Extended Stay America Inc shares owned while 30 reduced positions. 18 funds bought stakes while 55 increased positions. They now own 197.88 million shares or 0.07% more from 197.73 million shares in 2016Q1.
Envestnet Asset Mgmt Inc last reported 0% of its portfolio in the stock. Highland Management Lc has invested 0.03% of its portfolio in Extended Stay America Inc (NYSE:STAY). Winfield Associates accumulated 90 shares or 0% of the stock. Renaissance Tech Ltd Liability Corporation owns 52,600 shares or 0% of their US portfolio. Chicago Equity Ptnrs Ltd Com has 10,120 shares for 0% of their US portfolio. Great Lakes Ltd Co accumulated 0.1% or 247,547 shares. National Bank & Trust Of Montreal Can has invested 0% of its portfolio in Extended Stay America Inc (NYSE:STAY). Rhumbline Advisers, a Massachusetts-based fund reported 51,671 shares. Ngam L P holds 261,383 shares or 0.05% of its portfolio. Bnp Paribas Arbitrage Sa has 1 shares for 0% of their US portfolio. Ci Global Investments owns 8.05 million shares or 3.3% of their US portfolio. Fuller & Thaler Asset Incorporated accumulated 0% or 8,310 shares. The Georgia-based Invesco has invested 0% in Extended Stay America Inc (NYSE:STAY). The New York-based Alliancebernstein Limited Partnership has invested 0% in Extended Stay America Inc (NYSE:STAY). Moreover, Tudor Invest Et Al has 0.02% invested in Extended Stay America Inc (NYSE:STAY) for 53,186 shares.
Insider Transactions: Since October 4, 2016, the stock had 1 buying transaction, and 3 sales for $211.55 million net activity. Another trade for 10,000 shares valued at $138,300 was bought by Halkyard Jonathan S. $70.56M worth of Extended Stay America Inc (NYSE:STAY) was sold by Blackstone Real Estate Partners VI.A-ESH L.P. on Tuesday, October 4. Another trade for 4.98M shares valued at $70.56 million was sold by PAULSON & CO. INC. 4.98M Extended Stay America Inc (NYSE:STAY) shares with value of $70.56 million were sold by Blackstone Real Estate Associates VI-ESH L.P.
The stock increased 0.46% or $0.07 on November 22, hitting $15.41. About 871,641 shares traded hands. Extended Stay America Inc (NYSE:STAY) has declined 3.46% since April 20, 2016 and is downtrending. It has underperformed by 8.02% the S&P500.
Extended Stay America, Inc. is an integrated owner/operator of company-branded hotels in North America. The company has a market cap of $3.04 billion. The Firm operates in hotel activities segment. It has a 25.85 P/E ratio. The Company’s business operates in the extended stay lodging industry.
According to Zacks Investment Research, “Extended Stay America, Inc. owns and operates hotels under the core brand, Extended Stay America(R). It is the owner/operator of company-branded hotels in North America. The Company offers guest rooms, dining services, on-site laundry, local phone calls, personalized voicemail, pools, fitness centers, and pet friendly accommodations. Extended Stay America, Inc. is headquartered in Charlotte, North Carolina.”
More recent Extended Stay America Inc (NYSE:STAY) news were published by: Businesswire.com which released: “Extended Stay America Announces Pricing of Secondary Offering and Repurchase ..” on November 15, 2016. Also Prnewswire.com published the news titled: “Extended Stay America Announces Resignation Of Chief Marketing Officer” on September 08, 2016. Businesswire.com‘s news article titled: “Extended Stay America, Inc. Announces Launch of New Credit Facilities” with publication date: August 05, 2016 was also an interesting one.
Extended Stay America, Inc. (Extended Stay), incorporated on July 8, 2013, is an integrated owner/operator of company-branded hotels in North America. The Firm operates in hotel activities segment. The Company’s business operates in the extended stay lodging industry. The Firm owns and operates approximately 630 hotels comprising over 69,400 rooms located in approximately 40 states across the United States and in Canada. It owns and operates its hotels under its core brand, Extended Stay America, which serves the mid-price extended stay segment. In addition, the Company owns and operates over three Extended Stay Canada hotels. The Firm operates its hotels owned by ESH Hospitality, Inc. (ESH REIT). The hotels are operated by the Operating Lessees, subsidiaries of the Company and are managed by ESA Management LLC (ESA Management), a subsidiary of the Company. ESH Strategies, a subsidiary of the Company, owns the brands related to its business.
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