Zacks Investment Research downgraded shares of Corrections Corp. of America (NYSE:CXW) from a buy rating to a hold rating in a research report released on Monday.

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. “

CXW has been the subject of a number of other reports. ValuEngine upgraded shares of Corrections Corp. of America from a buy rating to a strong-buy rating in a report on Friday, August 18th. BidaskClub cut shares of Corrections Corp. of America from a hold rating to a sell rating in a report on Wednesday, June 21st. Deutsche Bank AG decreased their price objective on shares of Corrections Corp. of America from $40.00 to $35.00 and set a buy rating for the company in a report on Tuesday, August 8th. Canaccord Genuity set a $36.00 price objective on shares of Corrections Corp. of America and gave the stock a buy rating in a report on Monday, August 7th. Finally, TheStreet cut shares of Corrections Corp. of America from a b- rating to a c+ rating in a report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $30.00.

Corrections Corp. of America (NYSE CXW) opened at 26.30 on Monday. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 14.64 and a beta of 0.92. The firm has a 50-day moving average price of $25.99 and a 200 day moving average price of $29.60. Corrections Corp. of America has a 52-week low of $12.99 and a 52-week high of $35.33.

Corrections Corp. of America (NYSE:CXW) last issued its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.23. The firm had revenue of $436.39 million during the quarter, compared to analysts’ expectations of $437.92 million. Corrections Corp. of America had a net margin of 11.62% and a return on equity of 14.54%. Corrections Corp. of America’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. On average, equities research analysts predict that Corrections Corp. of America will post $1.52 EPS for the current year.

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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 dividend on an annualized basis and a yield of 6.39%. The ex-dividend date is Friday, September 29th. Corrections Corp. of America’s dividend payout ratio (DPR) is 93.86%.

In related news, Director Mark A. Emkes acquired 5,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was acquired at an average price of $25.62 per share, with a total value of $128,100.00. Following the completion of the transaction, the director now owns 44,426 shares of the company’s stock, valued at $1,138,194.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in CXW. Nisa Investment Advisors LLC acquired a new position in shares of Corrections Corp. of America during the first quarter valued at about $172,000. Wells Fargo & Company MN raised its position in shares of Corrections Corp. of America by 5.7% during the first quarter. Wells Fargo & Company MN now owns 487,182 shares of the real estate investment trust’s stock valued at $15,308,000 after buying an additional 26,454 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Corrections Corp. of America by 791.7% during the first quarter. Canada Pension Plan Investment Board now owns 10,700 shares of the real estate investment trust’s stock valued at $336,000 after buying an additional 9,500 shares during the last quarter. Suntrust Banks Inc. acquired a new position in shares of Corrections Corp. of America during the first quarter valued at about $382,000. Finally, BNP Paribas Arbitrage SA acquired a new position in shares of Corrections Corp. of America during the first quarter valued at about $1,926,000. 86.18% of the stock is owned by institutional investors and hedge funds.

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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