Shares of Corrections Corp. of America (NYSE:CXW) traded up 1.7% during mid-day trading on Wednesday . The company traded as high as $27.40 and last traded at $27.21, with a volume of 825,220 shares changing hands. The stock had previously closed at $26.75.

A number of analysts have issued reports on the company. SunTrust Banks Inc. lowered Corrections Corp. of America from a “buy” rating to a “neutral” rating and cut their target price for the company from $37.00 to $34.00 in a research report on Friday, July 1st. Canaccord Genuity reissued a “hold” rating on shares of Corrections Corp. of America in a research report on Tuesday, June 28th. Zacks Investment Research lowered Corrections Corp. of America from a “buy” rating to a “sell” rating in a research report on Wednesday, July 6th. Finally, TheStreet lowered Corrections Corp. of America from a “buy” rating to a “hold” rating in a research report on Friday, August 12th.

The firm has a 50 day moving average price of $31.32 and a 200-day moving average price of $31.58. The company has a market cap of $3.20 billion and a price-to-earnings ratio of 15.83.

Corrections Corp. of America (NYSE:CXW) last issued its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.04. During the same period last year, the business earned $0.73 earnings per share. The business had revenue of $463.30 million for the quarter, compared to analysts’ expectations of $462.68 million. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts forecast that Corrections Corp. of America will post $2.67 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd 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 7.94%.

Other hedge funds and institutional investors have modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Corrections Corp. of America during the fourth quarter worth $1,534,000. Utah Retirement Systems raised its stake in shares of Corrections Corp. of America by 9.3% in the fourth quarter. Utah Retirement Systems now owns 40,120 shares of the real estate investment trust’s stock worth $1,063,000 after buying an additional 3,400 shares during the period. Systematic Financial Management LP purchased a new stake in shares of Corrections Corp. of America during the fourth quarter worth about $1,710,000. Marshall Wace LLP purchased a new stake in shares of Corrections Corp. of America during the fourth quarter worth about $5,372,000. Finally, Wells Fargo & Company MN raised 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 period.

Corrections Corporation of America 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. The Company’s facilities offer a range of rehabilitation and educational programs, including basic education, faith-based services, life skills and employment training, and substance abuse treatment.

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