Symons Capital Management Inc. trimmed its position in shares of The GEO Group Inc (NYSE:GEO) by 9.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 277,864 shares of the real estate investment trust’s stock after selling 29,656 shares during the period. The GEO Group accounts for approximately 2.2% of Symons Capital Management Inc.’s portfolio, making the stock its 23rd largest holding. Symons Capital Management Inc. owned 0.23% of The GEO Group worth $4,818,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in GEO. Marshall Wace North America L.P. bought a new position in The GEO Group during the first quarter valued at $71,000. Retirement Systems of Alabama grew its holdings in The GEO Group by 0.3% during the second quarter. Retirement Systems of Alabama now owns 157,651 shares of the real estate investment trust’s stock valued at $3,312,000 after purchasing an additional 500 shares during the period. Xact Kapitalforvaltning AB bought a new position in The GEO Group during the second quarter valued at $229,000. 6 Meridian grew its holdings in The GEO Group by 2.8% during the second quarter. 6 Meridian now owns 22,264 shares of the real estate investment trust’s stock valued at $468,000 after purchasing an additional 612 shares during the period. Finally, New York State Teachers Retirement System grew its holdings in The GEO Group by 3.9% during the second quarter. New York State Teachers Retirement System now owns 193,417 shares of the real estate investment trust’s stock valued at $4,064,000 after purchasing an additional 7,200 shares during the period. 87.24% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Brian Evans sold 3,468 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $17.45, for a total transaction of $60,516.60. Following the transaction, the chief financial officer now directly owns 90,710 shares of the company’s stock, valued at $1,582,889.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anne N. Foreman sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $17.24, for a total value of $137,920.00. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.
Several equities research analysts have issued reports on the company. TheStreet downgraded The GEO Group from a “b-” rating to a “c+” rating in a research report on Thursday, July 25th. ValuEngine upgraded The GEO Group from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $25.00.
NYSE GEO traded up $0.17 during trading hours on Friday, reaching $15.17. 682,525 shares of the stock traded hands, compared to its average volume of 814,575. The stock has a 50 day simple moving average of $16.00 and a two-hundred day simple moving average of $18.74. The GEO Group Inc has a 1 year low of $14.68 and a 1 year high of $24.03. The company has a debt-to-equity ratio of 2.75, a current ratio of 1.27 and a quick ratio of 1.30. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 6.14 and a beta of 1.10.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 25th were paid a dividend of $0.48 per share. The ex-dividend date was Thursday, October 24th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 12.66%. The GEO Group’s dividend payout ratio (DPR) is currently 77.73%.
The GEO Group Profile
The GEO Group, Inc (NYSE: GEO) is the first fully integrated equity real estate investment trust specializing in the design, financing, development, and operation of correctional, detention, and community reentry facilities around the globe. GEO is the world's leading provider of diversified correctional, detention, community reentry, and electronic monitoring services to government agencies worldwide with operations in the United States, Australia, South Africa, and the United Kingdom.
Further Reading: Diversification Important in Investing
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