Vanguard Group Inc. Has $255.90 Million Holdings in CoreCivic, Inc. $CXW

Vanguard Group Inc. boosted its stake in CoreCivic, Inc. (NYSE:CXW) by 1.5% in the third quarter, HoldingsChannel.com reports. The firm owned 12,574,673 shares of the real estate investment trust’s stock after buying an additional 183,923 shares during the period. Vanguard Group Inc. owned 0.12% of CoreCivic worth $255,895,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in shares of CoreCivic by 24.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 372,018 shares of the real estate investment trust’s stock valued at $7,571,000 after buying an additional 73,145 shares during the last quarter. Aberdeen Group plc lifted its stake in shares of CoreCivic by 44.5% in the third quarter. Aberdeen Group plc now owns 604,774 shares of the real estate investment trust’s stock worth $13,027,000 after acquiring an additional 186,174 shares during the period. LSV Asset Management acquired a new position in shares of CoreCivic in the third quarter worth approximately $151,000. Versor Investments LP bought a new stake in CoreCivic in the third quarter valued at approximately $225,000. Finally, Smartleaf Asset Management LLC increased its position in CoreCivic by 38.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,930 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 1,101 shares during the period. 85.13% of the stock is owned by institutional investors.

CoreCivic Price Performance

CoreCivic stock opened at $17.65 on Friday. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 16.35 and a beta of 0.71. CoreCivic, Inc. has a 52-week low of $15.73 and a 52-week high of $23.54. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.41 and a current ratio of 1.66. The stock’s 50 day moving average price is $18.90 and its two-hundred day moving average price is $19.05.

CoreCivic (NYSE:CXW) last released its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.16). The company had revenue of $603.95 million for the quarter, compared to analyst estimates of $585.12 million. CoreCivic had a net margin of 5.27% and a return on equity of 8.17%. The firm’s revenue was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 EPS. On average, equities analysts predict that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

CoreCivic announced that its Board of Directors has approved a stock buyback plan on Monday, November 10th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 10.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CXW shares. JonesTrading restated a “buy” rating and issued a $30.00 price target on shares of CoreCivic in a research report on Friday, February 13th. Wall Street Zen downgraded shares of CoreCivic from a “buy” rating to a “hold” rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.00.

About CoreCivic

CoreCivic, Inc (NYSE: CXW) is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.

CoreCivic’s portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.