Corrections Corp. of America (NYSE:CXW) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday.

According to Zacks, “Corrections Corporation of America is a real estate investment trust. It owns, operates and manages correctional, detention facilities and prisons primarily in the United States. In addition to providing the fundamental residential services relating to inmates, the company also offers rehabilitation and educational programs, including basic education, religious services, life skills and employment training and substance abuse treatment. Corrections Corporation of America is based in Nashville, Tennessee. “

Other analysts have also issued research reports about the company. Canaccord Genuity reissued a “hold” rating on shares of Corrections Corp. of America in a report on Tuesday, July 12th. Wells Fargo & Co. reissued a “neutral” rating on shares of Corrections Corp. of America in a report on Sunday, August 21st. SunTrust Banks Inc. lowered Corrections Corp. of America from a “buy” rating to a “neutral” rating and cut their price target for the company from $37.00 to $34.00 in a report on Friday, July 1st. Finally, TheStreet lowered Corrections Corp. of America from a “buy” rating to a “hold” rating in a report on Friday, August 12th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $26.00.

Shares of Corrections Corp. of America (NYSE:CXW) traded down 0.37% during trading on Tuesday, hitting $13.40. The company had a trading volume of 1,766,314 shares. The firm’s 50 day moving average is $15.73 and its 200-day moving average is $27.84. The stock has a market capitalization of $1.57 billion, a P/E ratio of 7.79 and a beta of 0.64. Corrections Corp. of America has a 52 week low of $13.04 and a 52 week high of $35.05.

Corrections Corp. of America (NYSE:CXW) last released its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.04. Corrections Corp. of America had a return on equity of 14.16% and a net margin of 11.17%. The business earned $463.30 million during the quarter, compared to analyst estimates of $462.68 million. During the same quarter in the previous year, the company posted $0.73 earnings per share. Corrections Corp. of America’s revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts anticipate that Corrections Corp. of America will post $2.66 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 16.12%. The ex-dividend date of this dividend is Thursday, September 29th. Corrections Corp. of America’s dividend payout ratio (DPR) is 125.58%.

In other news, Director Mark A. Emkes bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were bought at an average cost of $17.19 per share, for a total transaction of $171,900.00. Following the completion of the transaction, the director now owns 20,755 shares of the company’s stock, valued at $356,778.45. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles L. Overby bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The stock was purchased at an average price of $19.85 per share, for a total transaction of $99,250.00. Following the completion of the transaction, the director now directly owns 33,788 shares of the company’s stock, valued at approximately $670,691.80. The disclosure for this purchase can be found here. 1.80% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. Commonwealth Equity Services Inc increased its stake in Corrections Corp. of America by 37.0% in the first quarter. Commonwealth Equity Services Inc now owns 17,360 shares of the real estate investment trust’s stock worth $556,000 after buying an additional 4,684 shares in the last quarter. Aperio Group LLC increased its stake in Corrections Corp. of America by 43.6% in the first quarter. Aperio Group LLC now owns 31,114 shares of the real estate investment trust’s stock worth $997,000 after buying an additional 9,448 shares in the last quarter. Nisa Investment Advisors L.L.C. increased its stake in Corrections Corp. of America by 181.0% in the first quarter. Nisa Investment Advisors L.L.C. now owns 22,200 shares of the real estate investment trust’s stock worth $712,000 after buying an additional 14,300 shares in the last quarter. IFP Advisors Inc increased its stake in Corrections Corp. of America by 38.3% in the first quarter. IFP Advisors Inc now owns 4,732 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 1,310 shares in the last quarter. Finally, Ngam Advisors L.P. increased its stake in Corrections Corp. of America by 150.2% in the first quarter. Ngam Advisors L.P. now owns 28,450 shares of the real estate investment trust’s stock worth $911,000 after buying an additional 17,080 shares in the last quarter. Institutional investors own 90.94% of the company’s stock.

Corrections Corp. of America Company Profile

Corrections Corporation of America is a real estate investment trust (REIT). The Company is engaged in owning, operating and managing prisons and other correctional facilities, and providing residential, community re-entry, and prisoner transportation services for governmental agencies. The Company’s facilities offer a range of rehabilitation and educational programs, including basic education, faith-based services, life skills and employment training, and substance abuse treatment.

5 Day Chart for NYSE:CXW

Receive News & Stock Ratings for Corrections Corp. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corrections Corp. of America and related stocks with our FREE daily email newsletter.