Mizuho Asset Management Co. Ltd. bought a new position in Geo Group Inc. (NYSE:GEO) during the second quarter, Holdings Channel reports. The fund bought 5,460 shares of the real estate investment trust’s stock, valued at approximately $187,000.

A number of other institutional investors have also modified their holdings of GEO. Vanguard Group Inc. raised its stake in shares of Geo Group by 4.6% in the second quarter. Vanguard Group Inc. now owns 12,708,613 shares of the real estate investment trust’s stock valued at $434,380,000 after buying an additional 555,282 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Geo Group by 0.8% in the first quarter. BlackRock Fund Advisors now owns 5,094,059 shares of the real estate investment trust’s stock valued at $176,611,000 after buying an additional 41,070 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Geo Group by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,152,391 shares of the real estate investment trust’s stock worth $74,623,000 after buying an additional 16,809 shares in the last quarter. Bank of New York Mellon Corp raised its position in Geo Group by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 1,639,202 shares of the real estate investment trust’s stock worth $56,028,000 after buying an additional 71,522 shares in the last quarter. Finally, State Street Corp raised its position in Geo Group by 2.8% in the first quarter. State Street Corp now owns 1,530,494 shares of the real estate investment trust’s stock worth $53,061,000 after buying an additional 42,068 shares in the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Geo Group Inc. (NYSE:GEO) traded up 1.63% on Wednesday, reaching $23.71. 88,376 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $25.54 and its 200 day moving average price is $31.22. Geo Group Inc. has a 52-week low of $16.26 and a 52-week high of $35.14. The firm has a market capitalization of $1.76 billion, a PE ratio of 12.75 and a beta of 0.97.

Geo Group (NYSE:GEO) last announced its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. Geo Group had a net margin of 6.80% and a return on equity of 14.20%. The company had revenue of $548.35 million for the quarter, compared to analyst estimates of $547.23 million. During the same period in the prior year, the business earned $0.63 earnings per share. Geo Group’s quarterly revenue was up 23.0% on a year-over-year basis. On average, analysts predict that Geo Group Inc. will post $2.89 EPS for the current fiscal year.

A number of research analysts recently commented on the stock. Canaccord Genuity lowered their price objective on shares of Geo Group from $38.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, August 24th. Zacks Investment Research lowered shares of Geo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. SunTrust Banks Inc. decreased their price target on shares of Geo Group from $38.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, September 1st. Finally, TheStreet lowered shares of Geo Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 18th.

In other Geo Group news, SVP Ann M. Schlarb purchased 1,500 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The stock was acquired at an average cost of $19.51 per share, with a total value of $29,265.00. Following the completion of the purchase, the senior vice president now directly owns 11,464 shares in the company, valued at approximately $223,662.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

About Geo Group

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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