First Citizens Bank & Trust Co. increased its stake in shares of The GEO Group Inc (NYSE:GEO) by 37.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,416 shares of the real estate investment trust’s stock after purchasing an additional 4,509 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in The GEO Group were worth $315,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in The GEO Group by 24.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,710,553 shares of the real estate investment trust’s stock worth $93,358,000 after purchasing an additional 735,209 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of The GEO Group by 1.1% during the 4th quarter. Prudential Financial Inc. now owns 3,629,489 shares of the real estate investment trust’s stock worth $71,501,000 after acquiring an additional 38,821 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of The GEO Group by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,135,116 shares of the real estate investment trust’s stock worth $61,762,000 after acquiring an additional 47,846 shares in the last quarter. Deprince Race & Zollo Inc. boosted its position in shares of The GEO Group by 24.6% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,448,175 shares of the real estate investment trust’s stock worth $28,529,000 after acquiring an additional 286,024 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of The GEO Group by 335.6% during the 4th quarter. American Century Companies Inc. now owns 1,422,625 shares of the real estate investment trust’s stock worth $28,026,000 after acquiring an additional 1,096,034 shares in the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.
GEO opened at $19.16 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.32. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 7.76, a P/E/G ratio of 1.66 and a beta of 1.46. The GEO Group Inc has a 52 week low of $18.18 and a 52 week high of $28.06.
The GEO Group (NYSE:GEO) last posted its quarterly earnings data on Thursday, February 14th. The real estate investment trust reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.24). The company had revenue of $599.43 million for the quarter, compared to analysts’ expectations of $588.94 million. The GEO Group had a net margin of 6.22% and a return on equity of 13.94%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 earnings per share. On average, equities research analysts expect that The GEO Group Inc will post 1.98 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 15th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 10.02%. The ex-dividend date is Friday, April 12th. The GEO Group’s dividend payout ratio is presently 77.73%.
Several research analysts have recently issued reports on GEO shares. Zacks Investment Research raised The GEO Group from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Thursday, January 31st. ValuEngine raised The GEO Group from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. JPMorgan Chase & Co. downgraded The GEO Group from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $27.00 to $26.00 in a research note on Friday, February 15th. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of The GEO Group in a research note on Monday, March 11th.
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The GEO Group Company 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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