Foundry Partners LLC Has $6,665,000 Position in Geo Group Inc. (GEO)
Foundry Partners LLC increased its position in shares of Geo Group Inc. (NYSE:GEO) by 0.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 280,260 shares of the real estate investment trust’s stock after buying an additional 731 shares during the period. Foundry Partners LLC owned about 0.38% of Geo Group worth $6,665,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Geo Group by 4.6% in the second quarter. Vanguard Group Inc. now owns 12,708,613 shares of the real estate investment trust’s stock worth $434,380,000 after buying an additional 555,282 shares during the period. Bank of Montreal Can acquired a new position in shares of Geo Group during the second quarter worth about $10,388,000. Global X Management Co. LLC acquired a new position in shares of Geo Group during the second quarter worth about $8,505,000. WBI Investments Inc. acquired a new position in shares of Geo Group during the second quarter worth about $8,254,000. Finally, Castle Ridge Investment Management LP raised its position in shares of Geo Group by 203.0% in the second quarter. Castle Ridge Investment Management LP now owns 338,829 shares of the real estate investment trust’s stock worth $11,581,000 after buying an additional 226,995 shares during the period. Institutional investors and hedge funds own 87.67% of the company’s stock.
Geo Group (NYSE:GEO) last released its quarterly earnings results on Thursday, November 3rd. The real estate investment trust reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by $0.16. Geo Group had a net margin of 6.78% and a return on equity of 14.70%. The firm earned $554.40 million during the quarter, compared to the consensus estimate of $567.16 million. During the same period in the prior year, the business earned $0.90 EPS. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, October 31st were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 8.60%. The ex-dividend date was Thursday, October 27th. Geo Group’s dividend payout ratio (DPR) is currently 134.72%.
A number of research analysts have issued reports on GEO shares. Canaccord Genuity boosted their price target on Geo Group from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Zacks Investment Research lowered Geo Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 10th. TheStreet lowered Geo Group from a “buy” rating to a “hold” rating in a report on Thursday, August 18th. Finally, SunTrust Banks Inc. cut their price objective on Geo Group from $38.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, September 1st.
In related news, SVP Ann M. Schlarb bought 1,500 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The shares were acquired at an average price of $19.51 per share, with a total value of $29,265.00. Following the completion of the transaction, the senior vice president now owns 11,464 shares of the company’s stock, valued at approximately $223,662.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.20% of the company’s stock.
About Geo Group
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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