Zacks Investment Research downgraded shares of Corecivic (NYSE:CXW) from a hold rating to a sell rating in a research note issued to investors on Friday.

According to Zacks, “CoreCivic, Inc. is a real estate investment trust which provides correctional, detention and residential reentry facilities. It designs, constructs, owns, manages and renovates jails, prisons, government agencies and inmate transportation companies. CoreCivic, Inc., formerly known as Corrections Corporation of America, is based in Nashville, Tennessee. “

Separately, ValuEngine cut Corecivic from a sell rating to a strong sell rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. Corecivic currently has a consensus rating of Hold and a consensus target price of $32.67.

Shares of NYSE:CXW traded down $0.33 during trading on Friday, hitting $21.85. 584,481 shares of the company’s stock were exchanged, compared to its average volume of 714,768. The company has a current ratio of 1.14, a quick ratio of 1.19 and a debt-to-equity ratio of 1.23. Corecivic has a 52-week low of $18.61 and a 52-week high of $26.09. The stock has a market capitalization of $2.61 billion, a P/E ratio of 9.42, a P/E/G ratio of 1.59 and a beta of 1.01.

Corecivic (NYSE:CXW) last released its earnings results on Monday, November 5th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.04). Corecivic had a return on equity of 11.64% and a net margin of 8.88%. The business had revenue of $462.73 million for the quarter, compared to analysts’ expectations of $454.79 million. During the same quarter in the prior year, the business posted $0.35 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, research analysts predict that Corecivic will post 2.31 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, October 1st were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.87%. The ex-dividend date was Friday, September 28th. Corecivic’s dividend payout ratio is presently 74.14%.

In other Corecivic news, CEO Damon T. Hininger sold 35,324 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $25.75, for a total transaction of $909,593.00. Following the completion of the transaction, the chief executive officer now owns 260,082 shares in the company, valued at approximately $6,697,111.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles L. Overby sold 43,712 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $25.26, for a total value of $1,104,165.12. Following the transaction, the director now owns 57,067 shares of the company’s stock, valued at approximately $1,441,512.42. The disclosure for this sale can be found here. Insiders have sold a total of 91,136 shares of company stock valued at $2,319,353 in the last 90 days. 1.30% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in shares of Corecivic in the 2nd quarter worth approximately $226,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Corecivic in the 2nd quarter worth approximately $226,000. Argent Trust Co purchased a new position in shares of Corecivic in the 2nd quarter worth approximately $239,000. Pinebridge Investments L.P. boosted its holdings in shares of Corecivic by 254.5% in the 2nd quarter. Pinebridge Investments L.P. now owns 10,032 shares of the real estate investment trust’s stock worth $240,000 after purchasing an additional 7,202 shares during the period. Finally, Nissay Asset Management Corp Japan ADV purchased a new position in shares of Corecivic in the 3rd quarter worth approximately $258,000. Hedge funds and other institutional investors own 83.69% of the company’s stock.

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, a growing network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.

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