Chemical Bank continued to hold its position in Corrections Corp. of America (NYSE:CXW) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,800 shares of the real estate investment trust’s stock at the end of the 2nd quarter. Chemical Bank’s holdings in Corrections Corp. of America were worth $215,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CXW. BlackRock Inc. lifted its position in Corrections Corp. of America by 13,997.1% during the first quarter. BlackRock Inc. now owns 10,765,267 shares of the real estate investment trust’s stock valued at $338,241,000 after acquiring an additional 10,688,902 shares during the last quarter. FMR LLC lifted its position in Corrections Corp. of America by 108.8% during 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 acquiring an additional 3,713,585 shares during the last quarter. State Street Corp purchased a new stake in Corrections Corp. of America during the first quarter valued at approximately $100,342,000. Daiwa Securities Group Inc. lifted its position in Corrections Corp. of America by 43.4% during 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 acquiring an additional 1,170,205 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in Corrections Corp. of America during the first quarter valued at approximately $30,512,000. 86.18% of the stock is owned by institutional investors.

Corrections Corp. of America (NYSE:CXW) opened at 26.09 on Friday. The firm has a 50 day moving average of $26.01 and a 200-day moving average of $29.72. Corrections Corp. of America has a 12-month low of $12.99 and a 12-month high of $35.33. The stock has a market cap of $3.08 billion, a PE ratio of 14.52 and a beta of 0.92.

Corrections Corp. of America (NYSE:CXW) last posted its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.59 EPS for the quarter, topping the consensus estimate of $0.36 by $0.23. Corrections Corp. of America had a net margin of 11.62% and a return on equity of 14.54%. The company had revenue of $436.39 million during the quarter, compared to analysts’ expectations of $437.92 million. During the same quarter in the previous year, the business posted $0.49 EPS. The firm’s revenue was down 5.8% on a year-over-year basis. On average, 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. Shareholders of record on Monday, October 2nd will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 6.44%. The ex-dividend date is Friday, September 29th. Corrections Corp. of America’s dividend payout ratio (DPR) is presently 93.86%.

A number of research firms recently commented on CXW. BidaskClub cut shares of Corrections Corp. of America from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. Zacks Investment Research cut shares of Corrections Corp. of America from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, ValuEngine raised shares of Corrections Corp. of America from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Corrections Corp. of America presently has a consensus rating of “Buy” and a consensus target price of $30.00.

In other news, EVP Kim White sold 5,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $26.27, for a total value of $131,350.00. Following the completion of the transaction, the executive vice president now owns 22,393 shares in the company, valued at approximately $588,264.11. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.30% of the company’s stock.

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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.

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

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