Geo Group Inc. (GEO) Trading Down 2.6%
Geo Group Inc. (NYSE:GEO)’s share price was down 2.6% during trading on Wednesday . The company traded as low as $33.01 and last traded at $33.13, with a volume of 324,668 shares trading hands. The stock had previously closed at $34.02.
A number of equities analysts recently commented on GEO shares. Zacks Investment Research raised Geo Group from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Tuesday, June 28th. Canaccord Genuity reissued a “hold” rating on shares of Geo Group in a research note on Monday, June 13th.
The stock’s 50 day moving average is $34.02 and its 200-day moving average is $32.00. The company has a market capitalization of $2.43 billion and a price-to-earnings ratio of 17.03.
Geo Group (NYSE:GEO) last issued its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The company earned $548.35 million during the quarter, compared to analyst estimates of $547.23 million. During the same period last year, the firm earned $0.63 EPS. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, equities research analysts predict that Geo Group Inc. will post $2.89 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Monday, August 1st will be issued a $0.65 dividend. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $2.60 annualized dividend and a dividend yield of 7.91%.
In other news, Director Richard H. Glanton sold 1,440 shares of the business’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $33.12, for a total value of $47,692.80. Following the completion of the transaction, the director now owns 1,451 shares of the company’s stock, valued at approximately $48,057.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Several institutional investors have made changes to their positions in GEO. Vanguard Group Inc. raised its position in shares of Geo Group by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 11,865,353 shares of the real estate investment trust’s stock valued at $343,028,000 after buying an additional 628,120 shares in the last quarter. Alpine Woods Capital Investors LLC raised its position in shares of Geo Group by 7.8% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 580,300 shares of the real estate investment trust’s stock valued at $16,776,000 after buying an additional 42,200 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Geo Group by 0.6% in the fourth quarter. California Public Employees Retirement System now owns 190,200 shares of the real estate investment trust’s stock valued at $5,499,000 after buying an additional 1,100 shares in the last quarter. State of Tennessee Treasury Department acquired a new position in shares of Geo Group during the fourth quarter valued at $1,667,000. Finally, Hodges Capital Management Inc. raised its position in shares of Geo Group by 3.4% in the fourth quarter. Hodges Capital Management Inc. now owns 1,038,934 shares of the real estate investment trust’s stock valued at $30,036,000 after buying an additional 33,893 shares in the last quarter.
The GEO Group, Inc is a real estate investment trust (REIT) specializing in the ownership, leasing and management of correctional, detention and re-entry facilities and the provision of community-based services and youth services in the United States, Australia, South Africa, the United Kingdom and Canada.
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