Geo Group Inc (The) (NYSE:GEO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.

According to Zacks, “The GEO Group, Inc. is an equity real estate investment trust. It specializes in the design, development, financing and operation of correctional, detention and community reentry facilities. It has operations in the United States, Australia, South Africa, and the United Kingdom. The GEO Group, Inc. is headquartered in Boca Raton, Florida. “

Several other research firms have also weighed in on GEO. ValuEngine raised Geo Group Inc (The) from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. BidaskClub lowered Geo Group Inc (The) from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Canaccord Genuity set a $35.00 price objective on Geo Group Inc (The) and gave the stock a “buy” rating in a research note on Monday, August 7th. Finally, J P Morgan Chase & Co assumed coverage on Geo Group Inc (The) in a research note on Friday, July 14th. They set an “overweight” rating and a $35.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $33.83.

Geo Group Inc (The) (NYSE:GEO) last issued its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.15). Geo Group Inc (The) had a net margin of 7.05% and a return on equity of 14.85%. The firm had revenue of $570.10 million for the quarter, compared to analyst estimates of $584.69 million. During the same quarter last year, the business posted $0.21 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year.

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In other news, Director Norman A. Carlson sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $25.77, for a total value of $257,700.00. Following the completion of the sale, the director now owns 39,779 shares of the company’s stock, valued at $1,025,104.83. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anne N. Foreman sold 17,340 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $26.67, for a total value of $462,457.80. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

Several institutional investors have recently modified their holdings of GEO. BlackRock Inc. boosted its position in shares of Geo Group Inc (The) by 134,562.9% in the first quarter. BlackRock Inc. now owns 9,056,079 shares of the real estate investment trust’s stock worth $419,932,000 after buying an additional 9,049,354 shares during the period. Vanguard Group Inc. boosted its position in shares of Geo Group Inc (The) by 59.9% in the second quarter. Vanguard Group Inc. now owns 22,564,533 shares of the real estate investment trust’s stock worth $667,233,000 after buying an additional 8,454,008 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Geo Group Inc (The) by 56,689.0% in the first quarter. Daiwa Securities Group Inc. now owns 2,385,137 shares of the real estate investment trust’s stock worth $110,599,000 after buying an additional 2,380,937 shares during the period. Eagle Asset Management boosted its position in shares of Geo Group Inc (The) by 65.9% in the third quarter. Eagle Asset Management now owns 4,858,190 shares of the real estate investment trust’s stock worth $144,482,000 after buying an additional 1,930,439 shares during the period. Finally, FMR LLC acquired a new stake in shares of Geo Group Inc (The) in the fourth quarter worth $57,509,000. 94.86% of the stock is owned by institutional investors and hedge funds.

Geo Group Inc (The) 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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