MetLife Investment Advisors LLC purchased a new position in CoreCivic (NYSE:CXW) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 74,789 shares of the real estate investment trust’s stock, valued at approximately $1,683,000.
A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in shares of CoreCivic by 0.9% during the fourth quarter. BlackRock Inc. now owns 10,766,519 shares of the real estate investment trust’s stock valued at $242,247,000 after purchasing an additional 95,372 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of CoreCivic by 23.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,763,703 shares of the real estate investment trust’s stock valued at $39,683,000 after purchasing an additional 337,600 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of CoreCivic by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 1,755,764 shares of the real estate investment trust’s stock valued at $39,504,000 after purchasing an additional 76,114 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of CoreCivic by 13.8% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,451,950 shares of the real estate investment trust’s stock valued at $32,669,000 after purchasing an additional 176,175 shares in the last quarter. Finally, Lee Danner & Bass Inc. increased its stake in shares of CoreCivic by 7.1% during the fourth quarter. Lee Danner & Bass Inc. now owns 1,303,017 shares of the real estate investment trust’s stock valued at $29,318,000 after purchasing an additional 86,301 shares in the last quarter. 79.84% of the stock is owned by institutional investors.
In other news, Director Mark A. Emkes purchased 5,000 shares of the business’s stock in a transaction dated Friday, March 2nd. The shares were purchased at an average price of $21.17 per share, for a total transaction of $105,850.00. Following the completion of the acquisition, the director now directly owns 56,488 shares in the company, valued at approximately $1,195,850.96. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.
CoreCivic (NYSE:CXW) last posted its quarterly earnings results on Wednesday, February 14th. The real estate investment trust reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.15). CoreCivic had a net margin of 10.08% and a return on equity of 12.61%. The firm had revenue of $440.58 million for the quarter, compared to analysts’ expectations of $429.88 million. sell-side analysts anticipate that CoreCivic will post 2.23 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be issued a dividend of $0.43 per share. This is a boost from CoreCivic’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 8.30%. CoreCivic’s dividend payout ratio is presently 74.14%.
A number of brokerages have weighed in on CXW. Zacks Investment Research downgraded shares of CoreCivic from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. ValuEngine downgraded shares of CoreCivic from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Deutsche Bank decreased their target price on shares of CoreCivic from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $32.75.
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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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