Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Corecivic Inc (NYSE:CXW) by 152.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,818 shares of the real estate investment trust’s stock after buying an additional 3,516 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Corecivic were worth $156,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CXW. Advisory Services Network LLC increased its stake in shares of Corecivic by 115.0% in the second quarter. Advisory Services Network LLC now owns 4,093 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 2,189 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Corecivic by 11.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,266 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 452 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Corecivic by 8.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 8,272 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 629 shares during the period. Stevens Capital Management LP bought a new position in shares of Corecivic in the second quarter worth about $228,000. Finally, Alps Advisors Inc. bought a new position in shares of Corecivic in the third quarter worth about $228,000. Institutional investors own 83.17% of the company’s stock.
In related news, CFO David Garfinkle sold 10,000 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $26.01, for a total transaction of $260,100.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.30% of the company’s stock.
Corecivic (NYSE:CXW) last posted its quarterly earnings data on Wednesday, November 8th. The real estate investment trust reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. Corecivic had a return on equity of 13.54% and a net margin of 11.03%. The business had revenue of $442.80 million for the quarter, compared to analyst estimates of $437.18 million. During the same period in the previous year, the company posted $0.69 earnings per share. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. research analysts predict that Corecivic Inc will post 2.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, December 29th. This represents a $1.68 annualized dividend and a yield of 7.47%. Corecivic’s dividend payout ratio is 100.60%.
A number of equities analysts have recently commented on CXW shares. Zacks Investment Research lowered Corecivic from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. ValuEngine lowered Corecivic from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, SunTrust Banks reiterated a “buy” rating and issued a $37.00 price objective on shares of Corecivic in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Corecivic presently has an average rating of “Hold” and a consensus target price of $33.50.
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Corecivic Company Profile
CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.
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