BlackRock Inc. lessened its position in shares of Corrections Corp. of America (NYSE:CXW) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,690,511 shares of the real estate investment trust’s stock after selling 74,756 shares during the quarter. BlackRock Inc. owned 9.05% of Corrections Corp. of America worth $294,846,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Oppenheimer Asset Management Inc. acquired a new position in shares of Corrections Corp. of America in the first quarter valued at about $116,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in shares of Corrections Corp. of America in the first quarter worth about $123,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Corrections Corp. of America by 11.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,266 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 452 shares during the last quarter. Harbour Capital Advisors LLC purchased a new position in shares of Corrections Corp. of America in the first quarter worth about $162,000. Finally, ClariVest Asset Management LLC purchased a new position in shares of Corrections Corp. of America in the first quarter worth about $182,000. Institutional investors and hedge funds own 86.18% of the company’s stock.

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Corrections Corp. of America (NYSE CXW) opened at 26.16 on Tuesday. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 14.56 and a beta of 0.92. The firm’s 50 day moving average price is $25.81 and its 200-day moving average price is $29.14. 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 posted its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.23. The business had revenue of $436.39 million during the quarter, compared to the consensus estimate of $437.92 million. Corrections Corp. of America had a return on equity of 14.54% and a net margin of 11.62%. The company’s revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 earnings per share. On average, equities analysts anticipate that Corrections Corp. of America will post $1.52 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.42%. Corrections Corp. of America’s payout ratio is 93.86%.

A number of brokerages recently commented on CXW. Zacks Investment Research upgraded 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. TheStreet lowered shares of Corrections Corp. of America from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. ValuEngine lowered shares of Corrections Corp. of America from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Canaccord Genuity set a $36.00 price objective on shares of Corrections Corp. of America and gave the company a “buy” rating in a research note on Monday, August 7th. Finally, 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 research note on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $34.25.

In related news, Director Mark A. Emkes purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average cost of $25.62 per share, with a total value of $128,100.00. Following the completion of the acquisition, the director now directly owns 44,426 shares in the company, valued at $1,138,194.12. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thurgood Marshall, Jr. sold 2,360 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $25.90, for a total value of $61,124.00. Following the sale, the director now directly owns 31,083 shares of the company’s stock, valued at $805,049.70. The disclosure for this sale can be found here. Insiders sold a total of 17,360 shares of company stock worth $451,474 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Corrections Corp. of America Profile

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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