Shares of Corrections Corp. of America (NYSE:CXW) saw an uptick in trading volume on Friday . 853,974 shares traded hands during trading, an increase of 20% from the previous session’s volume of 711,882 shares.The stock last traded at $32.48 and had previously closed at $32.50.

Several brokerages recently issued reports on CXW. SunTrust Banks Inc. downgraded Corrections Corp. of America from a “buy” rating to a “neutral” rating and decreased their target price for the company from $37.00 to $34.00 in a research note on Friday, July 1st. Canaccord Genuity reissued a “hold” rating on shares of Corrections Corp. of America in a research note on Tuesday, June 28th. Finally, Zacks Investment Research downgraded Corrections Corp. of America from a “buy” rating to a “sell” rating in a research note on Wednesday.

The stock has a market cap of $3.81 billion and a price-to-earnings ratio of 18.21. The stock has a 50 day moving average price of $33.85 and a 200-day moving average price of $30.90.

Corrections Corp. of America (NYSE:CXW) last posted its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The firm had revenue of $447.40 million for the quarter, compared to analysts’ expectations of $443.47 million. During the same quarter in the previous year, the firm posted $0.68 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, analysts expect that Corrections Corp. of America will post $2.63 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Wednesday, June 1st will be paid a dividend of $0.54 per share. The ex-dividend date is Wednesday, June 29th. This represents a $2.16 annualized dividend and a yield of 6.66%.

A number of hedge funds have recently bought and sold shares of CXW. Vanguard Group Inc. increased its stake in Corrections Corp. of America by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 16,868,942 shares of the real estate investment trust’s stock valued at $446,859,000 after buying an additional 433,709 shares during the last quarter. Nuance Investments LLC increased its stake in shares of Corrections Corp. of America by 46.8% in the fourth quarter. Nuance Investments LLC now owns 1,378,318 shares of the real estate investment trust’s stock worth $36,512,000 after buying an additional 439,528 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Corrections Corp. of America by 2.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,284,153 shares of the real estate investment trust’s stock worth $34,017,000 after buying an additional 33,047 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Corrections Corp. of America by 11.2% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,174,617 shares of the real estate investment trust’s stock worth $31,116,000 after buying an additional 118,596 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Corrections Corp. of America by 14.9% in the fourth quarter. First Trust Advisors LP now owns 707,654 shares of the real estate investment trust’s stock worth $18,746,000 after buying an additional 91,785 shares during the last quarter.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.