Shares of Geo Group Inc. (NYSE:GEO) were down 2.7% on Tuesday . The company traded as low as $23.11 and last traded at $23.97, with a volume of 3,246,272 shares trading hands. The stock had previously closed at $24.63.

A number of analysts have weighed in on GEO shares. TheStreet lowered shares of Geo Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 18th. Zacks Investment Research lowered shares of Geo Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 10th. Finally, Canaccord Genuity restated a “hold” rating on shares of Geo Group in a research note on Monday, June 13th.

The firm’s 50 day moving average price is $32.21 and its 200-day moving average price is $32.06. The stock has a market capitalization of $1.68 billion and a price-to-earnings ratio of 12.21.

Geo Group (NYSE:GEO) last posted its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The company earned $548.35 million during the quarter, compared to the consensus estimate of $547.23 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. Equities research analysts predict that Geo Group Inc. will post $2.89 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Monday, August 1st were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 11.45%. The ex-dividend date was Thursday, July 28th.

A hedge fund recently raised its stake in Geo Group stock. Wells Fargo & Company MN increased its position in Geo Group Inc. (NYSE:GEO) by 6.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 469,580 shares of the real estate investment trust’s stock after buying an additional 28,194 shares during the period. Wells Fargo & Company MN owned approximately 0.64% of Geo Group worth $13,575,000 at the end of the most recent reporting period.

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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