Zacks Investment Research cut shares of Geo Group Inc (The) (NYSE:GEO) from a hold rating to a sell rating in a report released on Wednesday.

According to Zacks, “The GEO Group, Inc. is an equity real estate investment trust. It specializes in the design, development, financing and operation of correctional, detention and community reentry facilities. It has operations in the United States, Australia, South Africa, and the United Kingdom. The GEO Group, Inc. is headquartered in Boca Raton, Florida. “

Several other brokerages also recently issued reports on GEO. ValuEngine raised shares of Geo Group Inc (The) from a hold rating to a buy rating in a report on Friday, June 2nd. Canaccord Genuity upped their price target on shares of Geo Group Inc (The) to $35.00 and gave the company a buy rating in a report on Tuesday, May 30th. BidaskClub downgraded shares of Geo Group Inc (The) from a sell rating to a strong sell rating in a report on Saturday, August 5th. Finally, J P Morgan Chase & Co initiated coverage on shares of Geo Group Inc (The) in a report on Friday, July 14th. They issued an overweight rating and a $35.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $31.33.

Geo Group Inc (NYSE GEO) traded up 2.28% during mid-day trading on Wednesday, reaching $26.86. 1,219,113 shares of the company’s stock were exchanged. The stock has a market capitalization of $3.28 billion, a PE ratio of 18.84 and a beta of 1.54. The firm’s 50-day moving average is $29.23 and its 200 day moving average is $30.37. Geo Group Inc has a 1-year low of $10.84 and a 1-year high of $34.32.

Geo Group Inc (The) (NYSE:GEO) last announced its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by $0.15. Geo Group Inc (The) had a net margin of 7.32% and a return on equity of 15.84%. The business had revenue of $570.10 million during the quarter, compared to analysts’ expectations of $584.69 million. During the same period last year, the company earned $0.21 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. Analysts forecast that Geo Group Inc will post $1.31 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 21st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 7.00%. The ex-dividend date was Wednesday, July 19th. Geo Group Inc (The)’s dividend payout ratio (DPR) is presently 131.16%.

In other news, Director Anne N. Foreman sold 17,340 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $26.67, for a total value of $462,457.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard H. Glanton sold 937 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $30.47, for a total transaction of $28,550.39. The disclosure for this sale can be found here. Insiders sold 44,006 shares of company stock worth $1,329,188 in the last ninety days. Insiders own 2.40% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Geo Group Inc (The) by 134,562.9% in the first quarter. BlackRock Inc. now owns 9,056,079 shares of the real estate investment trust’s stock worth $419,932,000 after buying an additional 9,049,354 shares in the last quarter. Vanguard Group Inc. raised its position in Geo Group Inc (The) by 59.9% in the second quarter. Vanguard Group Inc. now owns 22,564,533 shares of the real estate investment trust’s stock worth $667,233,000 after buying an additional 8,454,008 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Geo Group Inc (The) by 56,689.0% in the first quarter. Daiwa Securities Group Inc. now owns 2,385,137 shares of the real estate investment trust’s stock worth $110,599,000 after buying an additional 2,380,937 shares in the last quarter. Artemis Investment Management LLP raised its position in Geo Group Inc (The) by 96.0% in the second quarter. Artemis Investment Management LLP now owns 3,022,274 shares of the real estate investment trust’s stock worth $89,325,000 after buying an additional 1,480,619 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in Geo Group Inc (The) by 70.4% in the second quarter. Prudential Financial Inc. now owns 3,427,207 shares of the real estate investment trust’s stock worth $101,342,000 after buying an additional 1,416,097 shares in the last quarter. 64.43% of the stock is owned by institutional investors and hedge funds.

About Geo Group Inc (The)

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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Analyst Recommendations for Geo Group Inc (The) (NYSE:GEO)

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