Corrections Corp. of America (NYSE:CXW) announced a quarterly dividend on Friday, December 8th, Wall Street Journal reports. Investors of record on Tuesday, January 2nd will be paid a dividend of 0.42 per share by the real estate investment trust on Monday, January 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 7.45%. The ex-dividend date of this dividend is Friday, December 29th.

Corrections Corp. of America has raised its dividend by an average of 13.2% annually over the last three years and has increased its dividend every year for the last 4 years. Corrections Corp. of America has a payout ratio of 71.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Corrections Corp. of America to earn $2.24 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 75.0%.

Shares of Corrections Corp. of America (NYSE:CXW) traded down $0.01 during trading hours on Friday, hitting $22.55. 393,092 shares of the company were exchanged, compared to its average volume of 785,499. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.97. Corrections Corp. of America has a twelve month low of $22.21 and a twelve month high of $35.33. The company has a market cap of $2,666.69, a P/E ratio of 9.06, a PEG ratio of 1.61 and a beta of 0.88.

Corrections Corp. of America (NYSE:CXW) last announced its quarterly earnings data on Wednesday, November 8th. The real estate investment trust reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. Corrections Corp. of America had a net margin of 11.03% and a return on equity of 13.54%. The business had revenue of $442.80 million during the quarter, compared to the consensus estimate of $437.18 million. During the same quarter in the prior year, the firm earned $0.69 EPS. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. analysts expect that Corrections Corp. of America will post 2.34 earnings per share for the current fiscal year.

In other Corrections Corp. of America news, Director Thurgood Marshall, Jr. sold 2,360 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $25.90, for a total transaction of $61,124.00. Following the completion of the transaction, the director now directly owns 31,083 shares of the company’s stock, valued at approximately $805,049.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David Garfinkle sold 10,000 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $26.01, for a total transaction of $260,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 22,360 shares of company stock valued at $580,224 over the last three months. 1.30% of the stock is currently owned by company insiders.

A number of brokerages recently weighed in on CXW. 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. Zacks Investment Research raised shares of Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Thursday, September 21st. One equities research 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 presently has a consensus rating of “Hold” and an average price target of $33.50.

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Corrections Corp. of America Company 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.

Dividend History for Corrections Corp. of America (NYSE:CXW)

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