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

Several analysts have recently commented on CXW shares. Wells Fargo & Co. reiterated a “neutral” rating on shares of Corrections Corp. of America in a report on Sunday, August 21st. Canaccord Genuity restated a “hold” rating on shares of Corrections Corp. of America in a research note on Tuesday, July 12th. Zacks Investment Research lowered Corrections Corp. of America from a “buy” rating to a “sell” rating in a research note on Wednesday, July 6th. SunTrust Banks Inc. reduced their target price on Corrections Corp. of America from $34.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, TheStreet lowered Corrections Corp. of America from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Five equities research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average target price of $26.00.

The stock has a 50-day moving average price of $27.00 and a 200 day moving average price of $30.78. The stock has a market capitalization of $1.85 billion and a P/E ratio of 9.17.

Corrections Corp. of America (NYSE:CXW) last posted its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.04. The business earned $463.30 million during the quarter, compared to analyst estimates of $462.68 million. During the same quarter last year, the firm earned $0.73 EPS. The business’s revenue was up .9% on a year-over-year basis. Equities research analysts forecast that Corrections Corp. of America will post $2.66 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 13.56%.

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

An institutional investor recently raised its position in Corrections Corp. of America stock. Utah Retirement Systems raised its position in shares of Corrections Corp. of America (NYSE:CXW) by 9.3% during the fourth quarter, according to its most recent Form 13F filing with the 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 as of its most recent SEC filing.

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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