The GEO Group (GEO) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of The GEO Group (NYSE:GEO) from a hold rating to a sell rating in a report released 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. “

A number of other brokerages have also commented on GEO. TheStreet upgraded The GEO Group from a c+ rating to a b- rating in a research note on Tuesday, November 28th. SunTrust Banks restated a buy rating and issued a $32.00 target price on shares of The GEO Group in a research note on Wednesday, January 31st. Finally, ValuEngine lowered The GEO Group from a buy rating to a hold rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The GEO Group currently has an average rating of Hold and a consensus price target of $33.47.

Shares of The GEO Group (NYSE GEO) traded down $0.04 during midday trading on Thursday, hitting $20.00. The company had a trading volume of 52,896 shares, compared to its average volume of 946,298. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $2,455.35, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 1.65 and a beta of 1.32. The GEO Group has a twelve month low of $19.52 and a twelve month high of $34.32.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Friday, February 16th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.40%. The GEO Group’s payout ratio is 139.26%.

In related news, Director Christopher C. Wheeler sold 1,500 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $25.09, for a total value of $37,635.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. raised its stake in The GEO Group by 0.8% during the third quarter. Prudential Financial Inc. now owns 3,456,277 shares of the real estate investment trust’s stock worth $92,974,000 after acquiring an additional 29,070 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in The GEO Group by 5.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 824,355 shares of the real estate investment trust’s stock worth $22,176,000 after acquiring an additional 40,284 shares in the last quarter. California Public Employees Retirement System raised its stake in The GEO Group by 2.7% during the third quarter. California Public Employees Retirement System now owns 298,828 shares of the real estate investment trust’s stock worth $8,038,000 after acquiring an additional 7,828 shares in the last quarter. Advisory Services Network LLC raised its stake in The GEO Group by 51.1% during the second quarter. Advisory Services Network LLC now owns 57,141 shares of the real estate investment trust’s stock worth $1,690,000 after acquiring an additional 19,335 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its stake in The GEO Group by 47.8% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 102,772 shares of the real estate investment trust’s stock worth $3,038,000 after acquiring an additional 33,227 shares in the last quarter. Hedge funds and other institutional investors own 95.95% of the company’s stock.

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The 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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