Zacks Investment Research downgraded shares of Corrections Corp. of America (NYSE:CXW) from a buy rating to a hold rating in a research note published on Tuesday, July 4th.

According to Zacks, “CoreCivic, Inc. is a real estate investment trust which provides correctional, detention and residential reentry facilities. It designs, constructs, owns, manages and renovates jails, prisons, government agencies and inmate transportation companies. CoreCivic, Inc., formerly known as Corrections Corporation of America, is based in Nashville, Tennessee. “

Several other equities analysts also recently weighed in on the company. BidaskClub downgraded Corrections Corp. of America from a hold rating to a sell rating in a research report on Wednesday, June 21st. Canaccord Genuity set a $36.00 price target on Corrections Corp. of America and gave the stock a buy rating in a research report on Friday, May 19th. Finally, Deutsche Bank AG raised their price target on Corrections Corp. of America from $38.00 to $40.00 and gave the stock a buy rating in a research report on Monday, May 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $32.50.

Shares of Corrections Corp. of America (NYSE:CXW) traded up 0.74% during mid-day trading on Tuesday, reaching $27.20. The company had a trading volume of 1,290,264 shares. The company has a market capitalization of $3.21 billion, a PE ratio of 14.32 and a beta of 0.92. The stock’s 50-day moving average price is $28.12 and its 200 day moving average price is $30.81. Corrections Corp. of America has a 1-year low of $12.99 and a 1-year high of $35.33.

Corrections Corp. of America (NYSE:CXW) last released its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.06. The company had revenue of $445.70 million during the quarter, compared to the consensus estimate of $446.12 million. Corrections Corp. of America had a return on equity of 15.42% and a net margin of 12.10%. Corrections Corp. of America’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 earnings per share. Equities analysts expect that Corrections Corp. of America will post $1.53 EPS for the current year.

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The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Monday, July 3rd were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date of this dividend was Thursday, June 29th. Corrections Corp. of America’s payout ratio is currently 88.42%.

In related news, EVP Lucibeth Mayberry sold 6,236 shares of Corrections Corp. of America stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $30.41, for a total value of $189,636.76. Following the transaction, the executive vice president now owns 51,851 shares in the company, valued at $1,576,788.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Anthony L. Grande sold 23,000 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $33.86, for a total value of $778,780.00. Following the transaction, the executive vice president now owns 39,510 shares in the company, valued at approximately $1,337,808.60. The disclosure for this sale can be found here. Insiders sold 34,236 shares of company stock worth $1,121,117 in the last quarter. 1.30% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CXW. Vanguard Group Inc. boosted its position in shares of Corrections Corp. of America by 1.6% in the first quarter. Vanguard Group Inc. now owns 18,814,032 shares of the real estate investment trust’s stock worth $591,136,000 after buying an additional 293,923 shares in the last quarter. BlackRock Inc. boosted its position 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 buying an additional 10,688,902 shares in the last quarter. FMR LLC boosted its position in 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 valued at $223,939,000 after buying an additional 3,713,585 shares during the period. Daiwa Securities Group Inc. boosted its position in 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 valued at $106,598,000 after buying an additional 1,170,205 shares during the period. Finally, State Street Corp acquired a new position in Corrections Corp. of America during the first quarter valued at approximately $100,342,000. Institutional investors own 88.29% of the company’s stock.

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.

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