Mercer Global Advisors Inc. ADV purchased a new stake in The GEO Group Inc (NYSE:GEO) in the first quarter, Holdings Channel reports. The fund purchased 11,332 shares of the real estate investment trust’s stock, valued at approximately $218,000.
A number of other hedge funds also recently bought and sold shares of GEO. Oregon Public Employees Retirement Fund raised its stake in The GEO Group by 1,851.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 949,816 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 901,137 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new position in The GEO Group during the fourth quarter worth about $79,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in The GEO Group by 11.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,455 shares of the real estate investment trust’s stock worth $167,000 after acquiring an additional 882 shares in the last quarter. Quantamental Technologies LLC acquired a new position in The GEO Group during the fourth quarter worth about $188,000. Finally, Sun Life Financial INC raised its stake in The GEO Group by 6.5% during the fourth quarter. Sun Life Financial INC now owns 10,357 shares of the real estate investment trust’s stock worth $204,000 after acquiring an additional 633 shares in the last quarter. 85.88% of the stock is owned by institutional investors and hedge funds.
The GEO Group stock opened at $21.32 on Thursday. The GEO Group Inc has a 1 year low of $18.18 and a 1 year high of $28.06. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $2.54 billion, a PE ratio of 8.63, a PEG ratio of 1.49 and a beta of 1.47.
The GEO Group (NYSE:GEO) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.13). The GEO Group had a net margin of 6.34% and a return on equity of 14.82%. The firm had revenue of $610.70 million during the quarter, compared to analyst estimates of $601.83 million. During the same period in the prior year, the company earned $0.57 EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts predict that The GEO Group Inc will post 2.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 15th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 9.01%. The ex-dividend date was Friday, April 12th. The GEO Group’s dividend payout ratio is currently 77.73%.
Several brokerages have commented on GEO. ValuEngine downgraded The GEO Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 9th. Zacks Investment Research raised The GEO Group from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective for the company in a research note on Monday. TheStreet downgraded The GEO Group from a “b-” rating to a “c+” rating in a research note on Tuesday, April 30th. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of The GEO Group in a research note on Monday, March 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $25.00.
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About The GEO Group
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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