Alps Advisors Inc. raised its position in The GEO Group Inc (NYSE:GEO) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 52,743 shares of the real estate investment trust’s stock after purchasing an additional 847 shares during the quarter. Alps Advisors Inc.’s holdings in The GEO Group were worth $1,039,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in GEO. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in The GEO Group by 11.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,455 shares of the real estate investment trust’s stock valued at $167,000 after acquiring an additional 882 shares during the period. Quantamental Technologies LLC bought a new position in shares of The GEO Group in the fourth quarter valued at approximately $188,000. Creative Planning bought a new position in shares of The GEO Group in the third quarter valued at approximately $204,000. Jane Street Group LLC bought a new position in shares of The GEO Group in the second quarter valued at approximately $206,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of The GEO Group in the second quarter valued at approximately $221,000. 90.05% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO George C. Zoley bought 50,000 shares of the company’s stock in a transaction dated Wednesday, November 21st. The shares were bought at an average price of $22.33 per share, for a total transaction of $1,116,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,750,000 shares of the company’s stock, valued at $39,077,500. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 36.50% of the stock is owned by company insiders.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 22nd. Stockholders of record on Friday, February 15th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.12%. The ex-dividend date is Thursday, February 14th. This is a positive change from The GEO Group’s previous quarterly dividend of $0.47. The GEO Group’s dividend payout ratio (DPR) is currently 73.73%.
A number of research analysts have recently weighed in on GEO shares. Zacks Investment Research upgraded The GEO Group from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday, November 13th. ValuEngine upgraded The GEO Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, Wells Fargo & Co set a $25.00 target price on The GEO Group and gave the company a “hold” rating in a report on Wednesday, November 28th.
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The GEO Group Company 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.
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