Prudential Financial Inc. raised its position in shares of The GEO Group Inc (NYSE:GEO) by 16.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,011,110 shares of the real estate investment trust’s stock after buying an additional 286,813 shares during the period. Prudential Financial Inc. owned 1.81% of The GEO Group worth $93,256,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. California State Teachers Retirement System raised its stake in shares of The GEO Group by 0.8% in the third quarter. California State Teachers Retirement System now owns 157,236 shares of the real estate investment trust’s stock worth $3,739,000 after buying an additional 1,200 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of The GEO Group by 2.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,235,426 shares of the real estate investment trust’s stock worth $53,158,000 after buying an additional 60,939 shares during the period. BlackRock Group LTD raised its stake in shares of The GEO Group by 5.2% in the third quarter. BlackRock Group LTD now owns 98,343 shares of the real estate investment trust’s stock worth $2,338,000 after buying an additional 4,830 shares during the period. Rhumbline Advisers raised its stake in shares of The GEO Group by 3.8% in the third quarter. Rhumbline Advisers now owns 120,964 shares of the real estate investment trust’s stock worth $2,877,000 after buying an additional 4,453 shares during the period. Finally, Teachers Advisors LLC raised its stake in shares of The GEO Group by 0.8% in the third quarter. Teachers Advisors LLC now owns 119,469 shares of the real estate investment trust’s stock worth $2,841,000 after buying an additional 944 shares during the period. Institutional investors own 88.16% of the company’s stock.
Shares of The GEO Group Inc (NYSE:GEO) traded up 0.65% during mid-day trading on Friday, reaching $31.20. The company had a trading volume of 1,137,120 shares. The firm’s 50-day moving average price is $32.10 and its 200 day moving average price is $27.31. The GEO Group Inc has a 52-week low of $10.84 and a 52-week high of $34.32. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 22.40 and a beta of 1.22.
The GEO Group (NYSE:GEO) last announced its quarterly earnings data on Tuesday, May 2nd. The real estate investment trust reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.04. The GEO Group had a return on equity of 14.70% and a net margin of 6.78%. The business had revenue of $550.61 million during the quarter, compared to the consensus estimate of $550.79 million. During the same period in the prior year, the company earned $0.84 EPS. The GEO Group’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts expect that The GEO Group Inc will post $1.32 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 19th. Shareholders of record on Tuesday, May 9th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, May 5th. This represents a $1.88 annualized dividend and a yield of 6.06%. The GEO Group’s dividend payout ratio is presently 134.72%.
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A number of analysts have recently weighed in on the company. Zacks Investment Research lowered The GEO Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 28th. Canaccord Genuity raised their target price on The GEO Group from $43.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, February 24th. Finally, Deutsche Bank AG assumed coverage on The GEO Group in a research note on Wednesday, February 22nd. They issued a “hold” rating and a $47.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $39.00.
In other news, Director Norman A. Carlson sold 5,000 shares of the stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $48.38, for a total value of $241,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP J David Donahue sold 3,013 shares of the stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $46.51, for a total value of $140,134.63. Following the completion of the sale, the senior vice president now directly owns 12,276 shares of the company’s stock, valued at approximately $570,956.76. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.
About The GEO Group
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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