Corecivic Inc (CXW) Position Boosted by OppenheimerFunds Inc.
OppenheimerFunds Inc. increased its position in Corecivic Inc (NYSE:CXW) by 36.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 141,788 shares of the real estate investment trust’s stock after acquiring an additional 38,245 shares during the period. OppenheimerFunds Inc.’s holdings in Corecivic were worth $3,190,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. boosted its stake in Corecivic by 152.7% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,818 shares of the real estate investment trust’s stock worth $156,000 after purchasing an additional 3,516 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Corecivic by 8.2% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 8,272 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 629 shares during the period. Alps Advisors Inc. acquired a new position in Corecivic in the 3rd quarter worth approximately $228,000. Lourd Capital LLC acquired a new position in Corecivic in the 4th quarter worth approximately $201,000. Finally, Vident Investment Advisory LLC acquired a new position in Corecivic in the 3rd quarter worth approximately $252,000. 79.84% of the stock is owned by hedge funds and other institutional investors.
CXW has been the subject of a number of recent analyst reports. Deutsche Bank decreased their price objective on shares of Corecivic from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Zacks Investment Research raised shares of Corecivic from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Monday, December 4th. Finally, ValuEngine lowered shares of Corecivic from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $32.75.
Shares of Corecivic Inc (NYSE:CXW) opened at $21.52 on Friday. The stock has a market cap of $2,543.75, a price-to-earnings ratio of 9.24, a price-to-earnings-growth ratio of 1.61 and a beta of 0.91. Corecivic Inc has a 52 week low of $19.59 and a 52 week high of $35.10. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.13 and a current ratio of 1.13.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.99%. This is a positive change from Corecivic’s previous quarterly dividend of $0.42. Corecivic’s dividend payout ratio (DPR) is 112.00%.
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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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