Alpine Woods Capital Investors LLC boosted its stake in shares of Geo Group Inc (NYSE:GEO) by 103.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 746,000 shares of the real estate investment trust’s stock after acquiring an additional 379,600 shares during the quarter. Alpine Woods Capital Investors LLC owned 0.61% of Geo Group worth $15,271,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Advisor Group Inc. raised its position in Geo Group by 115.1% during the fourth quarter. Advisor Group Inc. now owns 4,869 shares of the real estate investment trust’s stock valued at $115,000 after acquiring an additional 2,605 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Geo Group in the fourth quarter valued at approximately $197,000. Verition Fund Management LLC purchased a new stake in shares of Geo Group in the fourth quarter valued at approximately $228,000. Elkfork Partners LLC purchased a new stake in shares of Geo Group in the fourth quarter valued at approximately $273,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Geo Group in the fourth quarter valued at approximately $276,000. Institutional investors own 94.82% of the company’s stock.
Geo Group opened at $23.50 on Friday, Marketbeat.com reports. The company has a market capitalization of $2.87 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 1.98 and a beta of 1.26. Geo Group Inc has a 12 month low of $23.57 and a 12 month high of $23.85. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.54 and a quick ratio of 1.54.
Geo Group (NYSE:GEO) last posted its quarterly earnings data on Thursday, April 26th. The real estate investment trust reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. The business had revenue of $565.00 million during the quarter, compared to analysts’ expectations of $559.86 million. Geo Group had a return on equity of 13.63% and a net margin of 6.18%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share. equities analysts predict that Geo Group Inc will post 1.96 EPS for the current fiscal year.
Geo Group announced that its Board of Directors has approved a stock buyback program on Wednesday, February 14th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 3rd. Investors of record on Monday, April 23rd were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 8.00%. The ex-dividend date of this dividend was Friday, April 20th. Geo Group’s payout ratio is 73.73%.
In related news, SVP John J. Bulfin sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 3rd. The stock was sold at an average price of $24.98, for a total transaction of $124,900.00. Following the completion of the sale, the senior vice president now directly owns 208,017 shares in the company, valued at $5,196,264.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is currently owned by insiders.
GEO has been the subject of a number of recent analyst reports. ValuEngine cut Geo Group from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research cut Geo Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 18th. Finally, SunTrust Banks restated a “buy” rating and issued a $32.00 price objective on shares of Geo Group in a research report on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Geo Group has an average rating of “Hold” and a consensus price target of $34.00.
Geo Group Profile
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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