Philadelphia Financial Management of San Francisco LLC lifted its position in shares of Corecivic Inc (NYSE:CXW) by 12.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,145,426 shares of the real estate investment trust’s stock after acquiring an additional 123,079 shares during the quarter. Corecivic makes up approximately 3.8% of Philadelphia Financial Management of San Francisco LLC’s portfolio, making the stock its 8th biggest position. Philadelphia Financial Management of San Francisco LLC’s holdings in Corecivic were worth $25,772,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CXW. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Corecivic during the 4th quarter valued at $13,036,000. Wells Fargo & Company MN boosted its holdings in shares of Corecivic by 109.7% during the 4th quarter. Wells Fargo & Company MN now owns 890,404 shares of the real estate investment trust’s stock valued at $20,034,000 after acquiring an additional 465,857 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of Corecivic during the 4th quarter valued at $8,672,000. Renaissance Technologies LLC boosted its holdings in shares of Corecivic by 23.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,763,703 shares of the real estate investment trust’s stock valued at $39,683,000 after acquiring an additional 337,600 shares in the last quarter. Finally, Ascend Capital LLC acquired a new stake in shares of Corecivic during the 4th quarter valued at $7,532,000. 79.84% of the stock is currently owned by institutional investors.
In other Corecivic news, Director Mark A. Emkes acquired 5,000 shares of the stock in a transaction dated Friday, March 2nd. The stock was purchased at an average cost of $21.17 per share, with a total value of $105,850.00. Following the transaction, the director now owns 56,488 shares in the company, valued at approximately $1,195,850.96. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.30% of the stock is owned by company insiders.
Corecivic (NYSE:CXW) last announced its earnings results on Wednesday, February 14th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.15). The company had revenue of $440.58 million for the quarter, compared to the consensus estimate of $429.88 million. Corecivic had a return on equity of 12.61% and a net margin of 10.08%. equities analysts anticipate that Corecivic Inc will post 2.23 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be given a dividend of $0.43 per share. This is a positive change from Corecivic’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 7.92%. The ex-dividend date is Thursday, March 29th. Corecivic’s dividend payout ratio (DPR) is currently 112.00%.
CXW has been the subject of several analyst reports. Zacks Investment Research raised Corecivic from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Monday, December 4th. ValuEngine lowered Corecivic from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. Finally, Deutsche Bank lowered their target price on Corecivic from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Corecivic currently has an average rating of “Hold” and a consensus price target of $32.75.
CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.
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