Miller Howard Investments Inc. NY reduced its stake in shares of The GEO Group Inc (NYSE:GEO) by 13.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 151,227 shares of the real estate investment trust’s stock after selling 23,140 shares during the period. Miller Howard Investments Inc. NY’s holdings in The GEO Group were worth $3,177,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. Retirement Systems of Alabama raised its holdings in The GEO Group by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 157,651 shares of the real estate investment trust’s stock worth $3,312,000 after buying an additional 500 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in The GEO Group by 1.1% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 48,737 shares of the real estate investment trust’s stock worth $936,000 after buying an additional 523 shares during the period. 6 Meridian raised its holdings in The GEO Group by 2.8% during the 2nd quarter. 6 Meridian now owns 22,264 shares of the real estate investment trust’s stock worth $468,000 after buying an additional 612 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in The GEO Group by 4.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 16,783 shares of the real estate investment trust’s stock worth $331,000 after buying an additional 749 shares during the period. Finally, Quantamental Technologies LLC raised its holdings in The GEO Group by 12.6% during the 1st quarter. Quantamental Technologies LLC now owns 10,764 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 1,202 shares during the period. Hedge funds and other institutional investors own 87.46% of the company’s stock.
Shares of NYSE GEO traded up $0.11 during midday trading on Friday, reaching $16.74. The company’s stock had a trading volume of 18,780 shares, compared to its average volume of 1,256,834. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.85 and a quick ratio of 0.85. The GEO Group Inc has a fifty-two week low of $16.33 and a fifty-two week high of $26.30. The company has a market cap of $2.04 billion, a PE ratio of 6.79 and a beta of 1.15. The stock has a 50 day simple moving average of $20.79.
The GEO Group (NYSE:GEO) last posted 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 Zacks’ 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 business had revenue of $610.70 million during the quarter, compared to analyst estimates of $601.83 million. During the same quarter last year, the business earned $0.57 earnings per share. The GEO Group’s revenue for the quarter was up 8.1% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 19th will be issued a $0.48 dividend. The ex-dividend date is Thursday, July 18th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 11.47%. The GEO Group’s dividend payout ratio (DPR) is presently 77.73%.
In other news, Director Richard H. Glanton sold 2,400 shares of The GEO Group stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $21.39, for a total value of $51,336.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is owned by company insiders.
Several brokerages have commented on GEO. TheStreet downgraded shares of Viavi Solutions from a “b-” rating to a “c+” rating in a report on Monday, June 3rd. Zacks Investment Research upgraded shares of Gerdau from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Finally, ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the company’s stock. The GEO Group currently has an average rating of “Hold” and an average price target of $25.00.
The 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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