Suntrust Banks Inc. Has $333,000 Holdings in Corecivic Inc (CXW)
Suntrust Banks Inc. decreased its stake in Corecivic Inc (NYSE:CXW) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,142 shares of the real estate investment trust’s stock after selling 84 shares during the quarter. Suntrust Banks Inc.’s holdings in Corecivic were worth $333,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of CXW. BlackRock Inc. increased its position in Corecivic 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 increased its position in Corecivic by 108.8% in the first quarter. FMR LLC now owns 7,127,278 shares of the real estate investment trust’s stock worth $223,939,000 after buying an additional 3,713,585 shares in the last quarter. State Street Corp purchased a new stake in Corecivic in the first quarter worth about $100,342,000. Daiwa Securities Group Inc. increased its position in Corecivic 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 worth $106,598,000 after buying an additional 1,170,205 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in Corecivic in the first quarter worth about $30,512,000. Institutional investors and hedge funds own 86.17% of the company’s stock.
CXW has been the subject of a number of analyst reports. TheStreet cut Corecivic from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. BidaskClub cut Corecivic from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research cut Corecivic from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Canaccord Genuity set a $36.00 price target on Corecivic and gave the stock a “buy” rating in a research report on Monday, August 7th. Finally, ValuEngine upgraded Corecivic from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $34.25.
Shares of Corecivic Inc (NYSE:CXW) opened at 25.94 on Friday. The stock has a market cap of $3.07 billion, a PE ratio of 14.44 and a beta of 0.92. Corecivic Inc has a 52-week low of $12.99 and a 52-week high of $35.33. The company’s 50 day moving average price is $26.08 and its 200 day moving average price is $28.76.
Corecivic (NYSE:CXW) last released its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.23. The company had revenue of $436.39 million during the quarter, compared to analysts’ expectations of $437.92 million. Corecivic had a return on equity of 12.47% and a net margin of 10.42%. Corecivic’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 EPS. On average, analysts anticipate that Corecivic Inc will post $1.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be issued a $0.42 dividend. The ex-dividend date is Friday, September 29th. This represents a $1.68 dividend on an annualized basis and a yield of 6.48%. Corecivic’s payout ratio is 93.86%.
In related news, CFO David Garfinkle sold 10,000 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $25.90, for a total value of $259,000.00. Following the completion of the transaction, the chief financial officer now owns 90,114 shares of the company’s stock, valued at approximately $2,333,952.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kim White sold 5,000 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was 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 directly owns 22,393 shares of the company’s stock, valued at approximately $588,264.11. The disclosure for this sale can be found here. Insiders sold a total of 17,360 shares of company stock valued at $451,474 in the last ninety days. 1.30% of the stock is currently owned by insiders.
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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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