Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Corecivic Inc (NYSE:CXW) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 94,899 shares of the real estate investment trust’s stock after acquiring an additional 1,200 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.08% of Corecivic worth $1,846,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Amundi Pioneer Asset Management Inc. raised its position in Corecivic by 94.1% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 372,603 shares of the real estate investment trust’s stock valued at $6,644,000 after purchasing an additional 180,656 shares during the period. 6 Meridian purchased a new stake in shares of Corecivic in the 1st quarter valued at $474,000. KBC Group NV raised its holdings in shares of Corecivic by 39.4% in the 4th quarter. KBC Group NV now owns 116,856 shares of the real estate investment trust’s stock valued at $2,084,000 after buying an additional 33,036 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Corecivic by 20.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,274 shares of the real estate investment trust’s stock valued at $27,986,000 after buying an additional 196,371 shares during the period. Finally, Meeder Asset Management Inc. raised its holdings in shares of Corecivic by 60.8% in the 4th quarter. Meeder Asset Management Inc. now owns 18,095 shares of the real estate investment trust’s stock valued at $323,000 after buying an additional 6,839 shares during the period. 80.71% of the stock is currently owned by institutional investors.
CXW traded down $0.30 on Wednesday, hitting $21.71. 403,543 shares of the company were exchanged, compared to its average volume of 433,946. Corecivic Inc has a twelve month low of $17.16 and a twelve month high of $26.09. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 9.40 and a beta of 1.33. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.03 and a quick ratio of 1.03.
Corecivic (NYSE:CXW) last released its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.18). The company had revenue of $484.06 million for the quarter, compared to analyst estimates of $466.75 million. Corecivic had a return on equity of 12.72% and a net margin of 9.09%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 earnings per share. On average, research analysts anticipate that Corecivic Inc will post 2.5 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Monday, July 1st will be given a dividend of $0.44 per share. The ex-dividend date is Friday, June 28th. This represents a $1.76 annualized dividend and a dividend yield of 8.11%. Corecivic’s dividend payout ratio is currently 76.19%.
Several equities research analysts recently issued reports on CXW shares. Zacks Investment Research upgraded Corecivic from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Wednesday, March 13th. ValuEngine upgraded Corecivic from a “sell” rating to a “hold” rating in a report on Saturday, May 18th.
In related news, Director Thurgood Marshall, Jr. sold 7,200 shares of the company’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $19.30, for a total value of $138,960.00. Following the completion of the sale, the director now directly owns 36,447 shares of the company’s stock, valued at approximately $703,427.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Damon T. Hininger sold 21,251 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $20.69, for a total value of $439,683.19. Following the completion of the sale, the chief executive officer now directly owns 273,493 shares of the company’s stock, valued at $5,658,570.17. The disclosure for this sale can be found here. Corporate insiders own 1.24% of the company’s stock.
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CoreCivic 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, a growing network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.
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