Axa raised its holdings in shares of Corecivic Inc (NYSE:CXW) by 50.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 399,200 shares of the real estate investment trust’s stock after purchasing an additional 133,987 shares during the period. Axa’s holdings in Corecivic were worth $8,983,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Corecivic by 152.7% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,818 shares of the real estate investment trust’s stock valued at $156,000 after buying an additional 3,516 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Corecivic during the fourth quarter valued at $173,000. Lourd Capital LLC purchased a new stake in shares of Corecivic during the fourth quarter valued at $201,000. Alps Advisors Inc. purchased a new stake in shares of Corecivic during the third quarter valued at $228,000. Finally, Vident Investment Advisory LLC purchased a new stake in shares of Corecivic during the third quarter valued at $252,000. 79.84% of the stock is currently owned by institutional investors and hedge funds.
In other Corecivic news, Director Mark A. Emkes purchased 5,000 shares of the stock in a transaction on Friday, March 2nd. The shares were bought at an average cost of $21.17 per share, with a total value of $105,850.00. Following the completion of the acquisition, the director now owns 56,488 shares in the company, valued at $1,195,850.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by corporate insiders.
Corecivic (NYSE:CXW) last posted its quarterly earnings results on Wednesday, February 14th. The real estate investment trust reported $0.40 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.15). Corecivic had a net margin of 10.08% and a return on equity of 12.61%. The business had revenue of $440.58 million during the quarter, compared to analysts’ expectations of $429.88 million. analysts predict that Corecivic Inc will post 2.23 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 7.84%. This is a positive change from Corecivic’s previous quarterly dividend of $0.42. The ex-dividend date is Thursday, March 29th. Corecivic’s dividend payout ratio is presently 109.09%.
A number of brokerages have recently weighed in on CXW. Zacks Investment Research lowered shares of Corecivic from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Deutsche Bank dropped their price objective on shares of Corecivic from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Finally, ValuEngine lowered shares of Corecivic from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $32.75.
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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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