Shares of Corrections Corp. of America (NYSE:CXW) saw an uptick in trading volume on Friday . 853,974 shares were traded 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.

A number of brokerages recently commented on CXW. SunTrust Banks Inc. cut Corrections Corp. of America from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $37.00 to $34.00 in a report on Friday, July 1st. Canaccord Genuity reaffirmed a “hold” rating on shares of Corrections Corp. of America in a report on Tuesday, June 28th. Finally, Zacks Investment Research cut Corrections Corp. of America from a “buy” rating to a “sell” rating in a report on Wednesday.

The firm has a market capitalization 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 released its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The firm earned $447.40 million during the quarter, compared to analysts’ expectations of $443.47 million. During the same period in the prior year, the firm posted $0.68 earnings per share. Corrections Corp. of America’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts expect that Corrections Corp. of America will post $2.63 earnings per share for the current fiscal 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 issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 6.66%. The ex-dividend date of this dividend is Wednesday, June 29th.

A number of institutional investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund raised 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 in the last quarter. ProShare Advisors LLC raised its position in Corrections Corp. of America by 12.5% in the fourth quarter. ProShare Advisors LLC now owns 53,159 shares of the real estate investment trust’s stock valued at $1,408,000 after buying an additional 5,893 shares in the last quarter. Azimuth Capital Management LLC raised its position in Corrections Corp. of America by 10.7% in the fourth quarter. Azimuth Capital Management LLC now owns 61,465 shares of the real estate investment trust’s stock valued at $1,628,000 after buying an additional 5,950 shares in the last quarter. Shell Asset Management Co. raised its position in Corrections Corp. of America by 47.5% in the fourth quarter. Shell Asset Management Co. now owns 62,810 shares of the real estate investment trust’s stock valued at $1,664,000 after buying an additional 20,220 shares in the last quarter. Finally, Systematic Financial Management LP purchased a new position in Corrections Corp. of America during the fourth quarter valued at about $1,710,000.

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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