Zacks Investment Research upgraded shares of The GEO Group (NYSE:GEO) from a hold rating to a buy rating in a research report sent to investors on Monday. Zacks Investment Research currently has $26.00 price objective on the real estate investment trust’s stock.
According to Zacks, “The GEO Group, Inc. is an equity real estate investment trust. It specializes in the design, development, financing and operation of correctional, detention and community reentry facilities. It has operations in the United States, Australia, South Africa, and the United Kingdom. The GEO Group, Inc. is headquartered in Boca Raton, Florida. “
Get The GEO Group alerts:Several other analysts have also recently weighed in on GEO. ValuEngine cut The GEO Group from a sell rating to a strong sell rating in a report on Wednesday, November 7th. Wells Fargo & Co set a $25.00 price target on The GEO Group and gave the company a hold rating in a report on Wednesday, November 28th.
Shares of NYSE GEO opened at $23.58 on Monday. The GEO Group has a 52 week low of $18.43 and a 52 week high of $28.06. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.21. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 1.90 and a beta of 1.45.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 22nd. Shareholders of record on Friday, February 15th will be issued a $0.48 dividend. The ex-dividend date is Thursday, February 14th. This represents a $1.92 annualized dividend and a dividend yield of 8.14%. This is a boost from The GEO Group’s previous quarterly dividend of $0.47. The GEO Group’s dividend payout ratio (DPR) is presently 73.73%.
In other The GEO Group news, CEO George C. Zoley purchased 50,000 shares of the stock in a transaction on Wednesday, November 21st. The shares were purchased at an average price of $22.33 per share, with a total value of $1,116,500.00. Following the acquisition, the chief executive officer now directly owns 1,750,000 shares in the company, valued at approximately $39,077,500. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 36.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in GEO. Oregon Public Employees Retirement Fund raised its holdings in shares of The GEO Group by 1,851.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 949,816 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 901,137 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of The GEO Group in the 4th quarter valued at about $79,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of The GEO Group by 11.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,455 shares of the real estate investment trust’s stock valued at $167,000 after acquiring an additional 882 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of The GEO Group in the 4th quarter valued at about $188,000. Finally, Creative Planning purchased a new stake in shares of The GEO Group in the 3rd quarter valued at about $204,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.
About The GEO Group
The GEO Group, Inc (NYSE: GEO) is the first fully integrated equity real estate investment trust specializing in the design, financing, development, and operation of correctional, detention, and community reentry facilities around the globe. GEO is the world's leading provider of diversified correctional, detention, community reentry, and electronic monitoring services to government agencies worldwide with operations in the United States, Australia, South Africa, and the United Kingdom.
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