Barrow Hanley Mewhinney & Strauss LLC cut its position in The GEO Group Inc (NYSE:GEO) by 15.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,889,490 shares of the real estate investment trust’s stock after selling 1,244,992 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned about 0.06% of The GEO Group worth $162,592,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Advisor Group Inc. raised its position in shares of The GEO Group by 54.0% in the 2nd quarter. Advisor Group Inc. now owns 4,344 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 1,524 shares in the last quarter. Toronto Dominion Bank raised its position in shares of The GEO Group by 50.0% in the 2nd quarter. Toronto Dominion Bank now owns 6,901 shares of the real estate investment trust’s stock valued at $204,000 after buying an additional 2,300 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of The GEO Group in the 3rd quarter valued at approximately $248,000. Public Employees Retirement System of Ohio raised its position in shares of The GEO Group by 52.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 8,844 shares of the real estate investment trust’s stock valued at $262,000 after buying an additional 3,036 shares in the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new position in shares of The GEO Group in the 4th quarter valued at approximately $265,000. Institutional investors own 95.10% of the company’s stock.
GEO has been the subject of several analyst reports. ValuEngine cut shares of The GEO Group from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research cut shares of The GEO Group from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. SunTrust Banks restated a “buy” rating and issued a $32.00 target price on shares of The GEO Group in a research report on Wednesday, January 31st. Finally, TheStreet upgraded shares of The GEO Group from a “c+” rating to a “b-” rating in a research report on Tuesday, November 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The GEO Group presently has a consensus rating of “Hold” and an average target price of $33.47.
The GEO Group (NYSE:GEO) last announced its quarterly earnings results on Wednesday, February 14th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. The company had revenue of $568.98 million for the quarter, compared to analyst estimates of $558.72 million. The GEO Group had a net margin of 6.46% and a return on equity of 13.95%. The firm’s revenue was up .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 EPS. research analysts anticipate that The GEO Group Inc will post 1.98 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Friday, February 16th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 9.35%. The ex-dividend date is Thursday, February 15th. The GEO Group’s dividend payout ratio (DPR) is presently 145.74%.
The GEO Group announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 14th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.
COPYRIGHT VIOLATION WARNING: This article was first published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://www.chaffeybreeze.com/2018/02/19/barrow-hanley-mewhinney-strauss-llc-has-162-59-million-stake-in-the-geo-group-inc-geo.html.
The GEO Group Profile
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.
Want to see what other hedge funds are holding GEO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The GEO Group Inc (NYSE:GEO).
Receive News & Ratings for The GEO Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The GEO Group and related companies with MarketBeat.com's FREE daily email newsletter.