State of Wisconsin Investment Board Has $642,000 Stake in Corrections Corp. of America (CXW)

State of Wisconsin Investment Board held its position in shares of Corrections Corp. of America (NYSE:CXW) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,290 shares of the real estate investment trust’s stock at the end of the second quarter. State of Wisconsin Investment Board’s holdings in Corrections Corp. of America were worth $642,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CXW. BlackRock Inc. raised its stake in shares of Corrections Corp. of America by 13,997.1% in the first quarter. BlackRock Inc. now owns 10,765,267 shares of the real estate investment trust’s stock worth $338,241,000 after purchasing an additional 10,688,902 shares during the last quarter. FMR LLC raised its stake in shares of Corrections Corp. of America by 108.8% in the first quarter. FMR LLC now owns 7,127,278 shares of the real estate investment trust’s stock worth $223,939,000 after purchasing an additional 3,713,585 shares during the last quarter. State Street Corp purchased a new position in shares of Corrections Corp. of America in the first quarter worth $100,342,000. Daiwa Securities Group Inc. raised its stake in shares of Corrections Corp. of America by 43.4% in the second quarter. Daiwa Securities Group Inc. now owns 3,865,032 shares of the real estate investment trust’s stock worth $106,598,000 after purchasing an additional 1,170,205 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Corrections Corp. of America by 76.3% in the first quarter. Prudential Financial Inc. now owns 2,518,610 shares of the real estate investment trust’s stock worth $79,135,000 after purchasing an additional 1,089,700 shares during the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

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In other news, EVP Kim White sold 5,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $26.27, for a total transaction of $131,350.00. Following the completion of the sale, the executive vice president now owns 22,393 shares in the company, valued at approximately $588,264.11. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Shares of Corrections Corp. of America (CXW) opened at 26.88 on Monday. The company has a 50 day moving average price of $26.34 and a 200 day moving average price of $30.02. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 14.96 and a beta of 0.92. Corrections Corp. of America has a one year low of $12.99 and a one year high of $35.33.

Corrections Corp. of America (NYSE:CXW) last issued its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.59 EPS for the quarter, beating the consensus estimate of $0.36 by $0.23. Corrections Corp. of America had a return on equity of 14.54% and a net margin of 11.62%. The firm had revenue of $436.39 million during the quarter, compared to analyst estimates of $437.92 million. During the same quarter in the prior year, the business posted $0.49 EPS. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. Equities analysts predict that Corrections Corp. of America will post $1.53 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.68 annualized dividend and a dividend yield of 6.25%. Corrections Corp. of America’s dividend payout ratio is presently 93.86%.

Several research analysts have recently weighed in on the company. Zacks Investment Research upgraded Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Wednesday, September 6th. ValuEngine cut Corrections Corp. of America from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. TheStreet cut Corrections Corp. of America from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. Deutsche Bank AG decreased their price target on Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, August 8th. Finally, Canaccord Genuity set a $36.00 price target on Corrections Corp. of America and gave the stock a “buy” rating in a research note on Monday, August 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Corrections Corp. of America currently has an average rating of “Buy” and a consensus price target of $30.25.

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.

Institutional Ownership by Quarter for Corrections Corp. of America (NYSE:CXW)

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