Employees Retirement System of Texas Invests $2.29 Million in Corrections Corp. of America (CXW) Stock

Employees Retirement System of Texas purchased a new stake in Corrections Corp. of America (NYSE:CXW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 83,000 shares of the real estate investment trust’s stock, valued at approximately $2,289,000. Employees Retirement System of Texas owned approximately 0.07% of Corrections Corp. of America at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. acquired a new stake in Corrections Corp. of America in the 1st quarter valued at $116,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Corrections Corp. of America by 11.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,266 shares of the real estate investment trust’s stock valued at $118,000 after buying an additional 452 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in Corrections Corp. of America in the 1st quarter valued at $123,000. Harbour Capital Advisors LLC acquired a new stake in Corrections Corp. of America in the 1st quarter valued at $162,000. Finally, NN Investment Partners Holdings N.V. acquired a new stake in Corrections Corp. of America in the 2nd quarter valued at $173,000. 86.17% of the stock is currently owned by institutional investors and hedge funds.

Corrections Corp. of America (CXW) opened at 25.95 on Wednesday. The firm has a 50-day moving average price of $25.95 and a 200 day moving average price of $28.86. The company has a market cap of $3.07 billion, a P/E ratio of 14.44 and a beta of 0.92. Corrections Corp. of America has a 12 month low of $12.99 and a 12 month high of $35.33.

Corrections Corp. of America (NYSE:CXW) last issued its earnings results on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.23. The firm had revenue of $436.39 million for the quarter, compared to the consensus estimate of $437.92 million. Corrections Corp. of America had a return on equity of 14.54% and a net margin of 11.62%. The company’s revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 EPS. On average, equities analysts expect that Corrections Corp. of America will post $1.52 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.47%. The ex-dividend date of this dividend is Friday, September 29th. Corrections Corp. of America’s dividend payout ratio is presently 93.86%.

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Several brokerages recently commented on CXW. BidaskClub lowered Corrections Corp. of America from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research lowered Corrections Corp. of America from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. ValuEngine raised Corrections Corp. of America from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $37.00 price target on shares of Corrections Corp. of America in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Corrections Corp. of America has an average rating of “Buy” and a consensus target price of $34.25.

In other Corrections Corp. of America news, CFO David Garfinkle sold 10,000 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $25.90, for a total value of $259,000.00. Following the sale, the chief financial officer now owns 90,114 shares of the company’s stock, valued at approximately $2,333,952.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark A. Emkes bought 5,000 shares of Corrections Corp. of America stock in a transaction on Thursday, August 10th. The stock was acquired at an average cost of $25.62 per share, for a total transaction of $128,100.00. Following the acquisition, the director now owns 44,426 shares in the company, valued at approximately $1,138,194.12. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 17,360 shares of company stock worth $451,474. Company insiders own 1.30% of the company’s stock.

Corrections Corp. of America Profile

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.

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

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