Epoch Investment Partners Inc. lifted its holdings in The GEO Group Inc (NYSE:GEO) by 7.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,791,993 shares of the real estate investment trust’s stock after buying an additional 131,582 shares during the period. Epoch Investment Partners Inc.’s holdings in The GEO Group were worth $49,352,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of GEO. Wells Fargo & Company MN raised its position in shares of The GEO Group by 2.3% in the 1st quarter. Wells Fargo & Company MN now owns 480,762 shares of the real estate investment trust’s stock worth $9,841,000 after acquiring an additional 10,787 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of The GEO Group by 11.8% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,960 shares of the real estate investment trust’s stock worth $409,000 after acquiring an additional 2,104 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of The GEO Group in the 1st quarter worth about $499,000. Boston Partners raised its position in shares of The GEO Group by 34.3% in the 1st quarter. Boston Partners now owns 170,735 shares of the real estate investment trust’s stock worth $3,494,000 after acquiring an additional 43,650 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of The GEO Group by 2.3% in the 1st quarter. Swiss National Bank now owns 216,100 shares of the real estate investment trust’s stock worth $4,424,000 after acquiring an additional 4,800 shares in the last quarter. 92.30% of the stock is owned by hedge funds and other institutional investors.
Shares of GEO opened at $24.95 on Friday. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a market capitalization of $3.14 billion, a PE ratio of 10.43, a PEG ratio of 2.20 and a beta of 1.20. The GEO Group Inc has a one year low of $19.05 and a one year high of $28.06.
The GEO Group (NYSE:GEO) last issued its 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 firm had revenue of $583.51 million during the quarter, compared to analyst estimates of $573.70 million. The GEO Group had a net margin of 6.45% and a return on equity of 13.90%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 earnings per share. sell-side analysts forecast that The GEO Group Inc will post 1.95 earnings per share for the current fiscal year.
Several research firms have recently weighed in on GEO. Zacks Investment Research raised The GEO Group from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Monday, July 23rd. ValuEngine raised The GEO Group from a “sell” rating to a “hold” rating in a research report on Friday, June 29th.
In other news, Director Anne N. Foreman sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $25.08, for a total value of $250,800.00. Following the completion of the sale, the director now directly owns 26,099 shares in the company, valued at approximately $654,562.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard H. Glanton sold 1,700 shares of the firm’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $24.68, for a total value of $41,956.00. Following the completion of the sale, the director now owns 5,352 shares of the company’s stock, valued at $132,087.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,375 shares of company stock valued at $487,709. 2.20% of the stock is currently owned by company insiders.
The GEO Group Profile
The GEO Group, Inc (NYSE: GEO) is the first fully integrated equity real estate investment trust ("REIT") 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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