Sumitomo Mitsui Trust Holdings Inc. Acquires 25,748 Shares of The GEO Group Inc (NYSE:GEO)

Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in The GEO Group Inc (NYSE:GEO) by 18.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,945 shares of the real estate investment trust’s stock after purchasing an additional 25,748 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.14% of The GEO Group worth $2,877,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GEO. Redhawk Wealth Advisors Inc. bought a new position in The GEO Group in the second quarter valued at $28,000. Marshall Wace North America L.P. bought a new position in The GEO Group in the first quarter valued at $71,000. US Bancorp DE grew its position in The GEO Group by 10.6% in the second quarter. US Bancorp DE now owns 6,924 shares of the real estate investment trust’s stock valued at $145,000 after purchasing an additional 664 shares in the last quarter. Parallax Volatility Advisers L.P. grew its position in The GEO Group by 111.0% in the second quarter. Parallax Volatility Advisers L.P. now owns 9,241 shares of the real estate investment trust’s stock valued at $194,000 after purchasing an additional 93,558 shares in the last quarter. Finally, Bailard Inc. bought a new position in The GEO Group in the second quarter valued at $206,000. 86.83% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on GEO. ValuEngine raised shares of The GEO Group from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. TheStreet downgraded shares of The GEO Group from a “b-” rating to a “c+” rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. The GEO Group has an average rating of “Buy” and an average target price of $25.00.

GEO stock traded down $0.21 during trading hours on Tuesday, reaching $14.72. The stock had a trading volume of 1,090,853 shares, compared to its average volume of 816,369. The stock has a market capitalization of $1.84 billion, a PE ratio of 5.96 and a beta of 1.10. The company has a debt-to-equity ratio of 2.75, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a 50-day simple moving average of $15.91 and a 200 day simple moving average of $18.70. The GEO Group Inc has a fifty-two week low of $14.68 and a fifty-two week high of $24.03.

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 25th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 13.04%. The ex-dividend date of this dividend was Thursday, October 24th. The GEO Group’s dividend payout ratio is currently 77.73%.

In other The GEO Group news, CFO Brian Evans sold 3,468 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $17.45, for a total value of $60,516.60. Following the completion of the sale, the chief financial officer now owns 90,710 shares in the company, valued at $1,582,889.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Anne N. Foreman sold 8,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $17.24, for a total transaction of $137,920.00. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

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.

See Also: What is diluted earnings per share (Diluted EPS)?

Institutional Ownership by Quarter for The GEO Group (NYSE:GEO)

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