Corrections Corp. of America (CXW) Position Increased by Rhumbline Advisers

Rhumbline Advisers increased its position in shares of Corrections Corp. of America (NYSE:CXW) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 264,189 shares of the real estate investment trust’s stock after buying an additional 5,060 shares during the period. Rhumbline Advisers owned about 0.22% of Corrections Corp. of America worth $7,286,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CXW. TLP Group LLC bought a new stake in Corrections Corp. of America during the first quarter worth about $113,000. Oppenheimer Asset Management Inc. bought a new stake in Corrections Corp. of America during the first quarter worth about $116,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in Corrections Corp. of America during the first quarter worth about $123,000. Harvest Fund Management Co. Ltd bought a new stake in Corrections Corp. of America during the first quarter worth about $126,000. Finally, Harbour Capital Advisors LLC bought a new stake in Corrections Corp. of America during the first quarter worth about $162,000. Hedge funds and other institutional investors own 88.79% of the company’s stock.

Corrections Corp. of America (CXW) opened at 24.85 on Friday. Corrections Corp. of America has a 12 month low of $12.99 and a 12 month high of $35.33. The firm’s 50-day moving average is $26.80 and its 200-day moving average is $30.34. The firm has a market capitalization of $2.94 billion, a PE ratio of 13.83 and a beta of 0.92.

Corrections Corp. of America (NYSE:CXW) last posted its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.23. The firm had revenue of $436.39 million for the quarter, compared to analyst estimates of $437.92 million. Corrections Corp. of America had a return on equity of 14.54% and a net margin of 11.62%. The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 EPS. On average, equities research analysts expect that Corrections Corp. of America will post $1.53 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.76%. The ex-dividend date of this dividend is Friday, September 29th. Corrections Corp. of America’s payout ratio is presently 93.86%.

A number of brokerages have weighed in on CXW. TheStreet cut shares of Corrections Corp. of America from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. Deutsche Bank AG reduced their price target on shares of Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, August 8th. Zacks Investment Research raised shares of Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Thursday. Canaccord Genuity set a $36.00 price target on shares of Corrections Corp. of America and gave the company a “buy” rating in a research report on Monday, August 7th. Finally, ValuEngine raised shares of Corrections Corp. of America from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Corrections Corp. of America has an average rating of “Buy” and a consensus price target of $29.75.

In other Corrections Corp. of America news, EVP Kim White sold 5,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $26.27, for a total value of $131,350.00. Following the transaction, the executive vice president now directly owns 22,393 shares of the company’s stock, valued at approximately $588,264.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

About Corrections Corp. of America

CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.