Raymond James & Associates raised its stake in The GEO Group Inc (NYSE:GEO) by 46.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,210,107 shares of the real estate investment trust’s stock after buying an additional 382,044 shares during the period. Raymond James & Associates owned approximately 0.98% of The GEO Group worth $28,558,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Crossmark Global Holdings Inc. acquired a new stake in The GEO Group during the 3rd quarter valued at $248,000. Canada Pension Plan Investment Board raised its stake in The GEO Group by 563.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 79,575 shares of the real estate investment trust’s stock valued at $2,141,000 after purchasing an additional 67,575 shares during the period. American Century Companies Inc. raised its stake in The GEO Group by 4,319.7% during the 3rd quarter. American Century Companies Inc. now owns 372,537 shares of the real estate investment trust’s stock valued at $10,021,000 after purchasing an additional 364,108 shares during the period. Swiss National Bank raised its stake in The GEO Group by 2.2% during the 3rd quarter. Swiss National Bank now owns 207,600 shares of the real estate investment trust’s stock valued at $5,584,000 after purchasing an additional 4,500 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in The GEO Group by 6.3% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 95,822 shares of the real estate investment trust’s stock valued at $2,578,000 after purchasing an additional 5,669 shares during the period. 94.36% of the stock is currently owned by institutional investors.
The GEO Group Inc (NYSE GEO) opened at $21.85 on Friday. The GEO Group Inc has a one year low of $19.05 and a one year high of $34.32. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 2.13. The firm has a market cap of $2,689.02, a price-to-earnings ratio of 18.06, a PEG ratio of 1.85 and a beta of 1.30.
The GEO Group declared that its board has authorized a share buyback program on Wednesday, February 14th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 16th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 8.60%. The ex-dividend date of this dividend was Thursday, February 15th. The GEO Group’s dividend payout ratio (DPR) is presently 155.37%.
GEO has been the topic of several recent analyst reports. Zacks Investment Research raised shares of The GEO Group from a “sell” rating to a “hold” rating in a research note on Friday, February 16th. SunTrust Banks reissued a “buy” rating and set a $32.00 target price on shares of The GEO Group in a research note on Wednesday, January 31st. ValuEngine downgraded shares of The GEO Group from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, TheStreet raised shares of The GEO Group from a “c+” rating to a “b-” rating in a research note on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $34.00.
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The GEO Group Company Profile
The GEO Group, Inc is a real estate investment trust (REIT) specializing in the ownership, leasing and management of correctional, detention and re-entry facilities and the provision of community-based services and youth services in the United States, Australia, South Africa, the United Kingdom and Canada.
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