Geo Group Inc. (GEO) Stock Price Up 3.6% After Dividend Announcement
Geo Group Inc. (NYSE:GEO) traded up 3.6% during mid-day trading on Tuesday following a dividend announcement from the company. The stock traded as high as $24.77 and last traded at $24.41, with a volume of 467,166 shares traded. The stock had previously closed at $23.56.
The newly announced dividend which will be paid on Thursday, November 10th. Stockholders of record on Monday, October 31st will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 11.04%. Geo Group’s payout ratio is 139.79%.
Several equities research analysts have recently weighed in on the company. Canaccord Genuity increased their price target on Geo Group from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Zacks Investment Research cut Geo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. TheStreet cut Geo Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 18th. Finally, SunTrust Banks Inc. decreased their price target on Geo Group from $38.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, September 1st.
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The company’s 50 day moving average is $22.79 and its 200 day moving average is $30.12. The firm has a market cap of $1.81 billion, a P/E ratio of 13.13 and a beta of 0.84.
Geo Group (NYSE:GEO) last posted its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The company earned $548.35 million during the quarter, compared to analyst estimates of $547.23 million. Geo Group had a return on equity of 14.20% and a net margin of 6.80%. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the company earned $0.63 earnings per share. Equities research analysts forecast that Geo Group Inc. will post $2.89 earnings per share for the current year.
In other news, SVP Ann M. Schlarb purchased 1,500 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was purchased at an average price of $19.51 per share, with a total value of $29,265.00. Following the completion of the purchase, the senior vice president now directly owns 11,464 shares in the company, valued at approximately $223,662.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.20% of the company’s stock.
Large investors have recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of Geo Group by 1.7% in the first quarter. Geode Capital Management LLC now owns 622,245 shares of the real estate investment trust’s stock valued at $21,573,000 after buying an additional 10,701 shares during the period. UBS Group AG raised its stake in shares of Geo Group by 5.7% in the first quarter. UBS Group AG now owns 43,282 shares of the real estate investment trust’s stock valued at $1,500,000 after buying an additional 2,347 shares during the period. State Street Corp raised its stake in shares of Geo Group by 2.8% in the first quarter. State Street Corp now owns 1,530,494 shares of the real estate investment trust’s stock valued at $53,061,000 after buying an additional 42,068 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Geo Group during the first quarter valued at about $2,277,000. Finally, M&T Bank Corp raised its stake in shares of Geo Group by 5.3% in the first quarter. M&T Bank Corp now owns 8,496 shares of the real estate investment trust’s stock valued at $293,000 after buying an additional 426 shares during the period. 88.04% of the stock is owned by hedge funds and other institutional investors.
Geo Group Company 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.
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