Zacks Investment Research upgraded shares of The GEO Group (NYSE:GEO) from a sell rating to a hold rating in a research note released on Friday, February 16th.
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. “
Other equities research analysts have also issued research reports about the stock. TheStreet upgraded shares of The GEO Group from a c+ rating to a b- rating in a report on Tuesday, November 28th. SunTrust Banks reiterated a buy rating and issued a $32.00 price objective on shares of The GEO Group in a research note on Wednesday, January 31st. Finally, ValuEngine lowered shares of The GEO Group from a buy rating to a hold rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The GEO Group presently has a consensus rating of Hold and an average price target of $34.00.
The GEO Group (NYSE:GEO) last released its quarterly earnings data on Wednesday, February 14th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.03. The GEO Group had a net margin of 6.46% and a return on equity of 13.95%. The company had revenue of $568.98 million for the quarter, compared to analysts’ expectations of $558.72 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The business’s revenue was up .4% on a year-over-year basis. research analysts forecast that The GEO Group will post 1.95 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 16th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 8.64%. The ex-dividend date was Thursday, February 15th. The GEO Group’s dividend payout ratio (DPR) is presently 145.74%.
The GEO Group declared that its board has approved a stock buyback program on Wednesday, February 14th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. boosted its holdings in The GEO Group by 54.0% in the 2nd quarter. Advisor Group Inc. now owns 4,344 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 1,524 shares during the period. Wellington Shields & Co. LLC boosted its holdings in The GEO Group by 7.4% in the 3rd quarter. Wellington Shields & Co. LLC now owns 29,050 shares of the real estate investment trust’s stock valued at $781,000 after purchasing an additional 2,000 shares during the period. Private Advisor Group LLC boosted its holdings in The GEO Group by 14.1% in the 3rd quarter. Private Advisor Group LLC now owns 17,986 shares of the real estate investment trust’s stock valued at $468,000 after purchasing an additional 2,221 shares during the period. Toronto Dominion Bank boosted its holdings in The GEO Group by 50.0% in the 2nd quarter. Toronto Dominion Bank now owns 6,901 shares of the real estate investment trust’s stock valued at $204,000 after purchasing an additional 2,300 shares during the period. Finally, Jefferies Group LLC boosted its holdings in The GEO Group by 23.5% in the 4th quarter. Jefferies Group LLC now owns 15,323 shares of the real estate investment trust’s stock valued at $362,000 after purchasing an additional 2,919 shares during the period. 94.36% of the stock is owned by institutional investors.
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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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