CoreCivic (NYSE:CXW) declared a quarterly dividend on Friday, February 23rd, Wall Street Journal reports. Shareholders of record on Monday, April 2nd will be paid a dividend of 0.43 per share by the real estate investment trust on Monday, April 16th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 8.83%. The ex-dividend date of this dividend is Thursday, March 29th. This is a positive change from CoreCivic’s previous quarterly dividend of $0.42.
CoreCivic has decreased its dividend by an average of 5.8% annually over the last three years. CoreCivic has a dividend payout ratio of 71.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CoreCivic to earn $2.23 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 75.3%.
CXW stock opened at $19.49 on Friday. CoreCivic has a 52-week low of $19.47 and a 52-week high of $35.10. The stock has a market capitalization of $2,418.46, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 1.53 and a beta of 0.91. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.13 and a quick ratio of 1.13.
In related news, Director Mark A. Emkes bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was acquired at an average price of $21.17 per share, for a total transaction of $105,850.00. Following the transaction, the director now directly owns 56,488 shares of the company’s stock, valued at $1,195,850.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by company insiders.
Several brokerages have recently weighed in on CXW. Zacks Investment Research lowered CoreCivic from a “buy” rating to a “hold” rating in a report on Friday, January 26th. ValuEngine downgraded CoreCivic from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Deutsche Bank cut 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. The stock presently has a consensus rating of “Hold” and an average price target of $32.75.
CoreCivic Company Profile
The Company is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through corrections and detention management, government real estate solutions, and a growing network of residential reentry centers to help address America's recidivism crisis.
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