J P Morgan Chase & Co initiated coverage on shares of Geo Group Inc (The) (NYSE:GEO) in a research note issued to investors on Friday morning, Marketbeat reports. The brokerage issued an overweight rating and a $35.00 price objective on the real estate investment trust’s stock.
Several other brokerages have also recently issued reports on GEO. Canaccord Genuity restated a buy rating and set a $33.33 price objective on shares of Geo Group Inc (The) in a research note on Monday, April 10th. ValuEngine upgraded Geo Group Inc (The) from a hold rating to a buy rating in a research note on Friday, June 2nd. Zacks Investment Research cut Geo Group Inc (The) from a hold rating to a sell rating in a research note on Wednesday, May 3rd. Finally, BidaskClub cut Geo Group Inc (The) from a hold rating to a sell rating in a research note on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $31.33.
Shares of Geo Group Inc (NYSE:GEO) traded down 1.82% during trading on Friday, hitting $30.24. 793,023 shares of the stock were exchanged. Geo Group Inc has a 12-month low of $10.84 and a 12-month high of $34.32. The firm has a 50 day moving average of $30.88 and a 200-day moving average of $29.41. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 21.71 and a beta of 1.55.
Geo Group Inc (The) (NYSE:GEO) last announced its quarterly earnings data on Tuesday, May 2nd. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.04. Geo Group Inc (The) had a return on equity of 15.32% and a net margin of 7.06%. The firm had revenue of $550.61 million for the quarter, compared to analysts’ expectations of $550.79 million. During the same period last year, the business posted $0.84 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts forecast that Geo Group Inc will post $1.34 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 21st will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 6.22%. The ex-dividend date is Wednesday, July 19th. Geo Group Inc (The)’s dividend payout ratio is presently 135.25%.
In other Geo Group Inc (The) news, Director Richard H. Glanton sold 3,187 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $29.87, for a total value of $95,195.69. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Shayn P. March sold 22,542 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $32.96, for a total value of $742,984.32. Following the completion of the sale, the vice president now directly owns 36,170 shares in the company, valued at $1,192,163.20. The disclosure for this sale can be found here. Insiders sold 26,666 shares of company stock worth $866,730 over the last ninety days. 2.40% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. FMR LLC acquired a new position in shares of Geo Group Inc (The) during the fourth quarter worth approximately $57,509,000. Credit Agricole S A raised its position in shares of Geo Group Inc (The) by 87.6% in the fourth quarter. Credit Agricole S A now owns 7,318 shares of the real estate investment trust’s stock worth $263,000 after buying an additional 3,418 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Geo Group Inc (The) during the fourth quarter worth approximately $517,000. Quadrature Capital Ltd acquired a new position in shares of Geo Group Inc (The) during the fourth quarter worth approximately $1,238,000. Finally, Teachers Advisors LLC raised its position in shares of Geo Group Inc (The) by 12.7% in the fourth quarter. Teachers Advisors LLC now owns 134,685 shares of the real estate investment trust’s stock worth $4,839,000 after buying an additional 15,216 shares during the period. 62.27% of the stock is currently owned by hedge funds and other institutional investors.
About Geo Group Inc (The)
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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