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

A number of equities research analysts have recently weighed in on CXW shares. Zacks Investment Research raised Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Tuesday, May 3rd. Canaccord Genuity reissued a “hold” rating on shares of Corrections Corp. of America in a research note on Tuesday, June 28th. Finally, SunTrust Banks Inc. cut Corrections Corp. of America from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $37.00 to $34.00 in a research note on Friday, July 1st.

The company has a 50-day moving average of $33.85 and a 200-day moving average of $30.90. The company has a market capitalization of $3.81 billion and a PE ratio of 18.21.

Corrections Corp. of America (NYSE:CXW) last issued its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The business had revenue of $447.40 million for the quarter, compared to analysts’ expectations of $443.47 million. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 EPS. Equities analysts anticipate that Corrections Corp. of America will post $2.63 earnings per share for the current fiscal year.

The firm 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. This represents a $2.16 dividend on an annualized basis and a dividend yield of 6.66%. The ex-dividend date is Wednesday, June 29th.

Other hedge funds and institutional investors have modified their holdings of the company. Vanguard Group Inc. raised its position in shares of 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 worth $446,859,000 after buying an additional 433,709 shares in the last quarter. Russell Frank Co raised its position in shares of Corrections Corp. of America by 5.3% in the fourth quarter. Russell Frank Co now owns 677,758 shares of the real estate investment trust’s stock worth $17,995,000 after buying an additional 34,382 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Corrections Corp. of America by 9.8% in the fourth quarter. California Public Employees Retirement System now owns 426,400 shares of the real estate investment trust’s stock worth $11,295,000 after buying an additional 38,000 shares in the last quarter. NorthCoast Asset Management LLC acquired a new position in shares of Corrections Corp. of America during the fourth quarter worth $3,805,000. Finally, Cornerstone Capital Management Holdings LLC. raised its position in shares of 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 worth $1,837,000 after buying an additional 1,494 shares in 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.

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