Geo Group Inc. to Issue Quarterly Dividend of $0.65 (GEO)
Geo Group Inc. (NYSE:GEO) declared a quarterly dividend on Tuesday, October 18th. Shareholders of record on Monday, October 31st will be paid a dividend of 0.65 per share by the real estate investment trust on Thursday, November 10th. This represents a $2.60 dividend on an annualized basis and a yield of 11.04%.
Geo Group (NYSE:GEO) opened at 23.56 on Tuesday. The stock has a market capitalization of $1.74 billion, a P/E ratio of 12.67 and a beta of 0.84. The firm’s 50-day moving average is $22.79 and its 200-day moving average is $30.12. Geo Group has a 12 month low of $16.26 and a 12 month high of $35.14.
Geo Group (NYSE:GEO) last announced its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Geo Group had a net margin of 6.80% and a return on equity of 14.20%. The business earned $548.35 million during the quarter, compared to analyst estimates of $547.23 million. During the same period last year, the firm posted $0.63 EPS. The company’s revenue was up 23.0% on a year-over-year basis. On average, equities analysts expect that Geo Group will post $2.89 earnings per share for the current fiscal year.
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A number of research analysts have recently commented on the company. Canaccord Genuity reiterated a “buy” rating and set a $28.00 target price on shares of Geo Group in a research report on Friday, September 30th. SunTrust Banks Inc. lowered their target price on Geo Group from $38.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, September 1st. TheStreet downgraded Geo Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 18th. Finally, Zacks Investment Research downgraded Geo Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 10th.
In other news, SVP Ann M. Schlarb bought 1,500 shares of the stock in a transaction dated Thursday, September 1st. The stock was purchased at an average cost of $19.51 per share, for a total transaction of $29,265.00. Following the transaction, the senior vice president now owns 11,464 shares of the company’s stock, valued at $223,662.64. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System increased its position in Geo Group by 1.9% in the second quarter. Arizona State Retirement System now owns 38,438 shares of the real estate investment trust’s stock worth $1,314,000 after buying an additional 700 shares in the last quarter. Public Sector Pension Investment Board increased its position in Geo Group by 1.9% in the second quarter. Public Sector Pension Investment Board now owns 52,440 shares of the real estate investment trust’s stock worth $1,792,000 after buying an additional 1,000 shares in the last quarter. US Bancorp DE increased its position in Geo Group by 13.9% in the second quarter. US Bancorp DE now owns 12,595 shares of the real estate investment trust’s stock worth $430,000 after buying an additional 1,538 shares in the last quarter. Profund Advisors LLC increased its position in Geo Group by 6.4% in the second quarter. Profund Advisors LLC now owns 28,322 shares of the real estate investment trust’s stock worth $968,000 after buying an additional 1,699 shares in the last quarter. Finally, Toronto Dominion Bank increased its position in Geo Group by 52.7% in the second quarter. Toronto Dominion Bank now owns 10,369 shares of the real estate investment trust’s stock worth $356,000 after buying an additional 3,580 shares in the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.
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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