CWA Asset Management Group LLC increased its stake in shares of Corrections Corp. of America (NYSE:CXW) by 6.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,103 shares of the real estate investment trust’s stock after buying an additional 8,974 shares during the period. Corrections Corp. of America accounts for approximately 1.3% of CWA Asset Management Group LLC’s holdings, making the stock its 19th biggest holding. CWA Asset Management Group LLC owned about 0.12% of Corrections Corp. of America worth $3,947,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CXW. Nisa Investment Advisors LLC acquired a new position in Corrections Corp. of America during the 1st quarter valued at about $172,000. Russell Investments Group Ltd. lifted its position in Corrections Corp. of America by 49.7% during the 1st quarter. Russell Investments Group Ltd. now owns 348,542 shares of the real estate investment trust’s stock valued at $10,952,000 after purchasing an additional 115,727 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Corrections Corp. of America by 1.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 41,132 shares of the real estate investment trust’s stock valued at $1,292,000 after purchasing an additional 600 shares during the period. Wells Fargo & Company MN lifted its position in Corrections Corp. of America by 5.7% during the 1st quarter. Wells Fargo & Company MN now owns 487,182 shares of the real estate investment trust’s stock valued at $15,308,000 after purchasing an additional 26,454 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in Corrections Corp. of America by 791.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the real estate investment trust’s stock valued at $336,000 after purchasing an additional 9,500 shares during the period. Institutional investors and hedge funds own 86.18% of the company’s stock.

Shares of Corrections Corp. of America (CXW) traded up 0.209% during mid-day trading on Tuesday, hitting $26.315. The stock had a trading volume of 120,922 shares. Corrections Corp. of America has a 1-year low of $12.99 and a 1-year high of $35.33. The firm has a market capitalization of $3.11 billion, a PE ratio of 14.644 and a beta of 0.92. The stock’s 50-day moving average is $26.27 and its 200-day moving average is $29.93.

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

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date of this dividend is Friday, September 29th. Corrections Corp. of America’s payout ratio is 93.86%.

In other news, EVP Kim White sold 5,000 shares of Corrections Corp. of America stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $26.27, for a total transaction of $131,350.00. Following the sale, the executive vice president now directly owns 22,393 shares of the company’s stock, valued at $588,264.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

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A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Friday, August 4th. ValuEngine upgraded shares of Corrections Corp. of America from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. BidaskClub downgraded shares of Corrections Corp. of America from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. Finally, Deutsche Bank AG cut their target price on shares of Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $30.25.

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

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