Canaccord Genuity Reiterates “Buy” Rating for The GEO Group Inc (GEO)
Several other research analysts have also commented on GEO. TheStreet upgraded The GEO Group from a hold rating to a buy rating in a report on Tuesday, November 29th. Zacks Investment Research upgraded shares of The GEO Group from a strong sell rating to a hold rating in a report on Tuesday, November 1st. Finally, Wells Fargo & Company restated a hold rating on shares of The GEO Group in a report on Tuesday, November 22nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $34.00.
Shares of The GEO Group (NYSE:GEO) opened at 45.07 on Monday. The GEO Group has a 52-week low of $16.26 and a 52-week high of $45.42. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 23.36 and a beta of 1.22. The firm’s 50 day moving average is $40.21 and its 200 day moving average is $30.63.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 27th. Investors of record on Friday, February 17th will be issued a $0.70 dividend. This is a positive change from The GEO Group’s previous quarterly dividend of $0.65. This represents a $2.80 annualized dividend and a yield of 6.21%. The ex-dividend date is Wednesday, February 15th. The GEO Group’s payout ratio is 134.72%.
In related news, Director Christopher C. Wheeler sold 1,000 shares of the business’s stock in a transaction dated Thursday, December 8th. The shares were sold at an average price of $34.00, for a total value of $34,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.20% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of GEO. FMR LLC bought a new stake in shares of The GEO Group during the fourth quarter valued at about $57,509,000. Bloom Tree Partners LLC bought a new stake in shares of The GEO Group during the third quarter valued at about $38,048,000. Russell Investments Group Ltd. bought a new stake in shares of The GEO Group during the fourth quarter valued at about $52,884,000. Emerald Acquisition Ltd. raised its stake in shares of The GEO Group by 799.1% in the third quarter. Emerald Acquisition Ltd. now owns 1,617,889 shares of the real estate investment trust’s stock valued at $38,473,000 after buying an additional 1,437,951 shares during the period. Finally, Prudential Financial Inc. raised its stake in shares of The GEO Group by 67.7% in the third quarter. Prudential Financial Inc. now owns 2,450,295 shares of the real estate investment trust’s stock valued at $58,268,000 after buying an additional 989,395 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.
About The 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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