Loeb Partners Corp decreased its position in shares of Corecivic Inc (NYSE:CXW) by 43.6% during the first quarter, Holdings Channel reports. The institutional investor owned 223,500 shares of the real estate investment trust’s stock after selling 172,600 shares during the period. Corecivic makes up about 2.1% of Loeb Partners Corp’s investment portfolio, making the stock its 11th largest position. Loeb Partners Corp owned 0.19% of Corecivic worth $7,023,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CXW. Epoch Investment Partners Inc. boosted its position in shares of Corecivic by 0.9% in the third quarter. Epoch Investment Partners Inc. now owns 6,445,518 shares of the real estate investment trust’s stock worth $89,400,000 after buying an additional 59,077 shares in the last quarter. FMR LLC boosted its position in shares of Corecivic by 332.7% in the fourth quarter. FMR LLC now owns 3,413,693 shares of the real estate investment trust’s stock worth $83,499,000 after buying an additional 2,624,693 shares in the last quarter. Bloom Tree Partners LLC purchased a new position in shares of Corecivic during the third quarter worth about $21,685,000. Two Sigma Advisers LP boosted its position in shares of Corecivic by 2,361.7% in the third quarter. Two Sigma Advisers LP now owns 1,322,739 shares of the real estate investment trust’s stock worth $18,346,000 after buying an additional 1,269,007 shares in the last quarter. Finally, Lee Danner & Bass Inc. boosted its position in shares of Corecivic by 2.1% in the third quarter. Lee Danner & Bass Inc. now owns 898,612 shares of the real estate investment trust’s stock worth $12,464,000 after buying an additional 18,751 shares in the last quarter. Hedge funds and other institutional investors own 85.99% of the company’s stock.
Corecivic Inc (NYSE:CXW) traded up 1.37% on Friday, hitting $34.01. 1,146,831 shares of the stock traded hands. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 18.19 and a beta of 0.99. Corecivic Inc has a 1-year low of $12.99 and a 1-year high of $35.33. The stock has a 50-day moving average price of $32.33 and a 200 day moving average price of $25.51.
Corecivic (NYSE:CXW) last posted its quarterly earnings data on Wednesday, February 8th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.10. The firm had revenue of $464.10 million for the quarter, compared to analysts’ expectations of $458.96 million. Corecivic had a return on equity of 15.26% and a net margin of 11.89%. Corecivic’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. On average, analysts anticipate that Corecivic Inc will post $1.50 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Monday, April 3rd were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date was Thursday, March 30th. Corecivic’s dividend payout ratio is 89.84%.
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Several research analysts have recently weighed in on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $34.00 price target on shares of Corecivic in a report on Monday, March 27th. Zacks Investment Research cut shares of Corecivic from a “buy” rating to a “hold” rating in a report on Tuesday, April 11th. Wells Fargo & Co reiterated a “market perform” rating on shares of Corecivic in a report on Thursday, February 23rd. Finally, Deutsche Bank AG assumed coverage on shares of Corecivic in a report on Wednesday, February 22nd. They issued a “buy” rating and a $38.00 price target for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Corecivic has a consensus rating of “Buy” and an average price target of $32.25.
In other news, CFO David Garfinkle sold 10,000 shares of Corecivic stock in a transaction on Monday, April 17th. The stock was sold at an average price of $33.22, for a total transaction of $332,200.00. Following the sale, the chief financial officer now directly owns 94,106 shares in the company, valued at approximately $3,126,201.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kim White sold 8,000 shares of Corecivic stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $32.01, for a total value of $256,080.00. Following the sale, the executive vice president now owns 27,393 shares in the company, valued at $876,849.93. The disclosure for this sale can be found here. Insiders have sold a total of 172,921 shares of company stock worth $5,460,579 over the last ninety days. Insiders own 1.80% of the company’s stock.
Corecivic Company Profile
CoreCivic, Inc, formerly Corrections Corporation of America, is a real estate investment trust (REIT). The Company provides a range of solutions to government partners that serve the public good through corrections and detention management, government real estate solutions, and a network of residential reentry centers to help address America’s recidivism crisis.
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