November 23, 2016 - By Hazel Jackson
As shown in a report which was filled with the Washington-based Security and Exchange Commission on 22-11-2016, Blackstone Real Estate Associates Vi-Esh L.P. an insider in Extended Stay America Inc, sold shares worth $69,003,000 US Dollars in the North Carolina-based company. Blackstone Real Estate Associates Vi-Esh L.P. disposed 4,675,000 new shares, at average $14.8 per share. This trade was pretty sizable one, so clearly it won’t go ignored. At the moment, Blackstone Real Estate Associates Vi-Esh L.P. has rights to a total of 100,372 shares or 10%+ of the Company’s total market cap.
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. Citigroup maintained the stock with “Neutral” rating in Wednesday, August 17 report. As per Friday, July 31, the company rating was maintained by Deutsche Bank. As per Wednesday, October 28, the company rating was maintained by Deutsche Bank. As per Thursday, January 14, the company rating was downgraded by M Partners. The rating was initiated by Goldman Sachs on Monday, September 26 with “Neutral”. The firm has “Outperform” rating given on Monday, August 3 by Robert W. Baird. The rating was downgraded by Bank of America to “Underperform” on Tuesday, July 21.
Insitutional Activity: The institutional sentiment decreased to 1.22 in 2016 Q2. Its down 0.44, from 1.66 in 2016Q1. The ratio worsened, 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.
Point72 Asia (Hong Kong) Ltd holds 700 shares or 0.01% of its portfolio. State Of Wisconsin Inv Board last reported 0.02% of its portfolio in the stock. Morgan Stanley has 0% invested in the company for 780,523 shares. Prudential Fincl holds 0.04% of its portfolio in Extended Stay America Inc (NYSE:STAY) for 1.54 million shares. The Massachusetts-based Ngam Advsrs L P has invested 0.05% in Extended Stay America Inc (NYSE:STAY). Pub Employees Retirement Association Of Colorado last reported 0% of its portfolio in the stock. The Illinois-based Envestnet Asset Mgmt has invested 0% in Extended Stay America Inc (NYSE:STAY). Nordea Inv Mngmt owns 100,176 shares or 0% of their US portfolio. Swiss Fincl Bank accumulated 0% or 135,386 shares. Ladenburg Thalmann Fincl Svcs last reported 889 shares in the company. Highland Ltd accumulated 23,171 shares or 0.03% of the stock. Geode Cap Ltd Llc accumulated 444,103 shares or 0% of the stock. Blackrock Institutional Trust Na, a California-based fund reported 3.36 million shares. Panagora Asset accumulated 33,769 shares or 0% of the stock. The Minnesota-based Walleye Trading Limited Liability Corporation has invested 0% in Extended Stay America Inc (NYSE:STAY).
Insider Transactions: Since October 4, 2016, the stock had 1 insider purchase, and 3 selling transactions for $211.55 million net activity. Halkyard Jonathan S had bought 10,000 shares worth $138,300 on Thursday, November 3. Blackstone Real Estate Associates VI-ESH L.P. sold $70.56M worth of stock. PAULSON & CO. INC. also sold $70.56M worth of Extended Stay America Inc (NYSE:STAY) on Tuesday, October 4. Blackstone Real Estate Partners VI.A-ESH L.P. also sold $70.56M worth of Extended Stay America Inc (NYSE:STAY) on Tuesday, October 4.
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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