Extended Stay America, Inc. (NASDAQ:STAY) Declares Quarterly Dividend of $0.01

Extended Stay America, Inc. (NASDAQ:STAY) announced a quarterly dividend on Monday, November 9th, Zacks reports. Stockholders of record on Tuesday, November 24th will be paid a dividend of 0.01 per share on Tuesday, December 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Monday, November 23rd.

Extended Stay America has increased its dividend payment by 23.0% over the last three years and has raised its dividend every year for the last 1 years. Extended Stay America has a payout ratio of 16.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Extended Stay America to earn $0.51 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 7.8%.

Shares of NASDAQ:STAY opened at $12.72 on Friday. The firm has a market capitalization of $2.33 billion, a PE ratio of -159.00 and a beta of 1.89. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 2.20. Extended Stay America has a 52 week low of $5.35 and a 52 week high of $15.06.

Separately, BidaskClub raised Extended Stay America from a “sell” rating to a “hold” rating in a research report on Monday, November 2nd.

About Extended Stay America

Extended Stay America, Inc, together with its subsidiaries, owns, operates, develops, and manages hotels in the United States. As of May 4, 2020, the company had a network of 634 hotels. It serves customers in the mid-priced extended stay segment. The company also licenses Extended Stay America brand to third party franchisees.

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