First Trust Advisors LP lowered its holdings in shares of The GEO Group Inc (NYSE:GEO) by 30.1% in the 4th quarter, Holdings Channel reports. The firm owned 51,901 shares of the real estate investment trust’s stock after selling 22,345 shares during the quarter. First Trust Advisors LP’s holdings in The GEO Group were worth $1,225,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Crossmark Global Holdings Inc. purchased a new stake in The GEO Group in the 3rd quarter worth approximately $248,000. First Citizens Bank & Trust Co. purchased a new stake in The GEO Group in the 4th quarter worth approximately $265,000. Schroder Investment Management Group purchased a new stake in The GEO Group in the 3rd quarter worth approximately $409,000. ING Groep NV increased its holdings in The GEO Group by 23.2% in the 4th quarter. ING Groep NV now owns 18,715 shares of the real estate investment trust’s stock worth $442,000 after acquiring an additional 3,525 shares in the last quarter. Finally, Private Advisor Group LLC increased its holdings in The GEO Group by 14.1% in the 3rd quarter. Private Advisor Group LLC now owns 17,986 shares of the real estate investment trust’s stock worth $468,000 after acquiring an additional 2,221 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.
The GEO Group Inc (GEO) opened at $20.41 on Monday. The GEO Group Inc has a 52 week low of $19.05 and a 52 week high of $34.32. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 2.13. The firm has a market capitalization of $2,532.68, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 1.74 and a beta of 1.30.
The GEO Group declared that its board has authorized a stock buyback program on Wednesday, February 14th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Friday, February 16th were paid a $0.47 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.88 annualized dividend and a yield of 9.21%. The GEO Group’s payout ratio is 155.37%.
Several equities research analysts recently issued reports on GEO shares. Zacks Investment Research raised shares of The GEO Group from a “sell” rating to a “hold” rating in a report on Friday, February 16th. SunTrust Banks reissued a “buy” rating and issued a $32.00 target price on shares of The GEO Group in a report on Wednesday, January 31st. ValuEngine lowered shares of The GEO Group from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, TheStreet raised shares of The GEO Group from a “c+” rating to a “b-” rating in a report on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The GEO Group currently has an average rating of “Hold” and an average target price of $34.00.
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The GEO Group Profile
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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