Shares of Corrections Corp. of America (NYSE:CXW) fell 4.2% during trading on Tuesday . The company traded as low as $15.92 and last traded at $16.09, with a volume of 2,140,590 shares traded. The stock had previously closed at $16.79.

A number of research firms recently commented on CXW. Zacks Investment Research cut shares of Corrections Corp. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. Canaccord Genuity reiterated a “hold” rating on shares of Corrections Corp. of America in a research note on Tuesday, June 28th. TheStreet cut shares of Corrections Corp. of America from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Wells Fargo & Co. reiterated a “neutral” rating on shares of Corrections Corp. of America in a research note on Sunday, August 21st. Finally, SunTrust Banks Inc. cut shares of 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. Five equities research analysts have rated the stock with a hold rating, Corrections Corp. of America has an average rating of “Hold” and a consensus target price of $30.67.

The firm has a market capitalization of $1.88 billion and a price-to-earnings ratio of 9.31. The company’s 50 day moving average is $27.93 and its 200 day moving average is $30.97.

Corrections Corp. of America (NYSE:CXW) last issued its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.04. The business had revenue of $463.30 million for the quarter, compared to analysts’ expectations of $462.68 million. During the same quarter last year, the company earned $0.73 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities analysts predict that Corrections Corp. of America will post $2.66 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders 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 yield of 13.48%.

In other news, Director Charles L. Overby bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The shares were purchased at an average cost of $19.85 per share, for a total transaction of $99,250.00. Following the completion of the purchase, the director now owns 33,788 shares of the company’s stock, valued at $670,691.80. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mark A. Emkes bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were purchased at an average price of $17.19 per share, for a total transaction of $171,900.00. Following the completion of the purchase, the director now directly owns 20,755 shares of the company’s stock, valued at approximately $356,778.45. The disclosure for this purchase can be found here.

A hedge fund recently raised its stake in Corrections Corp. of America stock. Utah Retirement Systems boosted its position in Corrections Corp. of America (NYSE:CXW) by 9.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,120 shares of the real estate investment trust’s stock after buying an additional 3,400 shares during the period. Utah Retirement Systems’ holdings in Corrections Corp. of America were worth $1,063,000 at the end of the most recent reporting 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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