Teachers Insurance & Annuity Association of America cut its holdings in The GEO Group Inc (NYSE:GEO) by 2.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 155,580 shares of the real estate investment trust’s stock after selling 3,410 shares during the period. Teachers Insurance & Annuity Association of America’s holdings in The GEO Group were worth $4,285,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Zeke Capital Advisors LLC acquired a new position in shares of The GEO Group in the second quarter valued at about $210,000. Nissay Asset Management Corp Japan ADV acquired a new position in shares of The GEO Group in the second quarter valued at about $239,000. New Jersey Better Educational Savings Trust acquired a new position in shares of The GEO Group in the second quarter valued at about $330,000. Verition Fund Management LLC grew its stake in shares of The GEO Group by 27.8% in the first quarter. Verition Fund Management LLC now owns 12,324 shares of the real estate investment trust’s stock valued at $252,000 after acquiring an additional 2,684 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of The GEO Group in the second quarter valued at about $389,000. Institutional investors and hedge funds own 91.30% of the company’s stock.
GEO has been the topic of several research reports. Zacks Investment Research upgraded shares of The GEO Group from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Monday, July 23rd. ValuEngine downgraded shares of The GEO Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd.
GEO stock opened at $25.37 on Friday. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.46 and a current ratio of 1.46. The GEO Group Inc has a 52 week low of $19.05 and a 52 week high of $28.06. The stock has a market capitalization of $3.07 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 2.17 and a beta of 1.28.
The GEO Group (NYSE:GEO) last released its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.15). The GEO Group had a net margin of 6.45% and a return on equity of 13.90%. The business had revenue of $583.51 million during the quarter, compared to analyst estimates of $573.70 million. During the same quarter last year, the company posted $0.61 earnings per share. The company’s revenue was up 1.1% on a year-over-year basis. analysts predict that The GEO Group Inc will post 1.94 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 27th. Shareholders of record on Friday, July 20th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, July 19th. This represents a $1.88 dividend on an annualized basis and a yield of 7.41%. The GEO Group’s payout ratio is 73.73%.
In other The GEO Group news, Director Anne N. Foreman sold 10,000 shares of the stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $25.08, for a total transaction of $250,800.00. Following the sale, the director now directly owns 26,099 shares in the company, valued at $654,562.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard H. Glanton sold 1,700 shares of the stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $24.68, for a total transaction of $41,956.00. Following the sale, the director now owns 5,352 shares in the company, valued at $132,087.36. The disclosure for this sale can be found here. Insiders have sold 14,700 shares of company stock worth $368,146 over the last quarter. Corporate insiders own 2.20% of the company’s stock.
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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