Corrections Corp. of America (NYSE:CXW) shares traded down 47.2% during mid-day trading on Thursday . The company traded as low as $13.04 and last traded at $14.36, with a volume of 14,888,933 shares changing hands. The stock had previously closed at $27.22.

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

The firm has a 50-day moving average of $31.32 and a 200 day moving average of $31.58. The firm has a market capitalization of $2.06 billion and a price-to-earnings ratio of 10.22.

Corrections Corp. of America (NYSE:CXW) last released its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The business earned $463.30 million during the quarter, compared to analysts’ expectations of $462.68 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS. On average, analysts anticipate that Corrections Corp. of America will post $2.67 earnings per share for the current 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 issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 12.29%.

A number of hedge funds and institutional investors have recently added to or reduced their stakes in CXW. Wells Fargo & Company MN increased its position in 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 in the last quarter. Marshall Wace LLP purchased a new position in Corrections Corp. of America during the fourth quarter worth about $5,372,000. Cornerstone Capital Management Holdings LLC. increased its position in 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. Systematic Financial Management LP purchased a new position in Corrections Corp. of America during the fourth quarter worth about $1,710,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Corrections Corp. of America during the fourth quarter worth about $1,534,000.

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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