Corrections Corp. of America (NYSE:CXW) traded down 2.1% during mid-day trading on Thursday . The stock traded as low as $32.83 and last traded at $32.83, with a volume of 275,605 shares. The stock had previously closed at $33.52.

Several research firms have recently commented on CXW. Zacks Investment Research downgraded Corrections Corp. of America from a “buy” rating to a “hold” rating in a report on Tuesday, April 26th. SunTrust Banks Inc. downgraded Corrections Corp. of America from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $37.00 to $34.00 in a report on Friday, July 1st. Finally, Canaccord Genuity reiterated a “hold” rating on shares of Corrections Corp. of America in a report on Tuesday, June 28th.

The firm has a market cap of $3.82 billion and a P/E ratio of 18.26. The stock’s 50-day moving average price is $33.84 and its 200 day moving average price is $30.86.

Corrections Corp. of America (NYSE:CXW) last released its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.61 EPS for the quarter, beating the consensus estimate of $0.58 by $0.03. The company had revenue of $447.40 million for the quarter, compared to the consensus estimate of $443.47 million. During the same period last year, the company earned $0.68 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Analysts forecast that Corrections Corp. of America will post $2.63 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Wednesday, June 1st will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 6.65%. The ex-dividend date of this dividend is Wednesday, June 29th.

Several hedge funds and institutional investors recently added to or reduced their stakes in CXW. Mutual of America Capital Management LLC increased its position in Corrections Corp. of America by 0.4% in the fourth quarter. Mutual of America Capital Management LLC now owns 78,641 shares of the real estate investment trust’s stock valued at $2,083,000 after buying an additional 349 shares during the period. Strs Ohio increased its position in Corrections Corp. of America by 0.3% in the fourth quarter. Strs Ohio now owns 177,248 shares of the real estate investment trust’s stock valued at $4,695,000 after buying an additional 504 shares during the period. Alpine Woods Capital Investors LLC increased its position in Corrections Corp. of America by 1.9% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 74,900 shares of the real estate investment trust’s stock valued at $1,984,000 after buying an additional 1,400 shares during the period. Cornerstone Capital Management Holdings LLC. increased its position in Corrections Corp. of America by 2.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 69,364 shares of the real estate investment trust’s stock valued at $1,837,000 after buying an additional 1,494 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in Corrections Corp. of America by 3.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 47,795 shares of the real estate investment trust’s stock valued at $1,266,000 after buying an additional 1,500 shares during the period.

Corrections Corporation of America (CCA) is a real estate investment trust (REIT). The Company is engaged in owning, operating and managing prisons and other correctional facilities, and providing residential, community re-entry, and prisoner transportation services for governmental agencies. In addition to providing fundamental residential services, the Company’s facilities offer a variety of rehabilitation and educational programs, including basic education, faith-based services, life skills and employment training, and substance abuse treatment.

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