Synovus Financial Corp boosted its stake in shares of The GEO Group Inc (NYSE:GEO) by 51.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,412 shares of the real estate investment trust’s stock after acquiring an additional 4,229 shares during the quarter. Synovus Financial Corp’s holdings in The GEO Group were worth $294,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Wellington Shields & Co. LLC raised its stake in The GEO Group by 7.4% during the third quarter. Wellington Shields & Co. LLC now owns 29,050 shares of the real estate investment trust’s stock worth $781,000 after acquiring an additional 2,000 shares in the last quarter. Private Advisor Group LLC raised its stake in The GEO Group by 14.1% during the third quarter. Private Advisor Group LLC now owns 17,986 shares of the real estate investment trust’s stock worth $468,000 after acquiring an additional 2,221 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of The GEO Group by 50.0% during the second quarter. Toronto Dominion Bank now owns 6,901 shares of the real estate investment trust’s stock worth $204,000 after purchasing an additional 2,300 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of The GEO Group by 52.3% during the second quarter. Public Employees Retirement System of Ohio now owns 8,844 shares of the real estate investment trust’s stock worth $262,000 after purchasing an additional 3,036 shares during the last quarter. Finally, Barings LLC grew its holdings in shares of The GEO Group by 0.3% during the fourth quarter. Barings LLC now owns 935,123 shares of the real estate investment trust’s stock worth $22,069,000 after purchasing an additional 3,150 shares during the last quarter. Hedge funds and other institutional investors own 94.38% of the company’s stock.
Several analysts have recently commented on GEO shares. ValuEngine cut The GEO Group from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research cut The GEO Group from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. SunTrust Banks restated a “buy” rating and set a $32.00 target price on shares of The GEO Group in a report on Wednesday, January 31st. Finally, TheStreet upgraded The GEO Group from a “c+” rating to a “b-” rating in a report on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $34.00.
Shares of The GEO Group Inc (NYSE:GEO) opened at $21.99 on Friday. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.27 and a current ratio of 1.57. The company has a market capitalization of $2,647.66, a price-to-earnings ratio of 18.17, a PEG ratio of 1.80 and a beta of 1.32. The GEO Group Inc has a 1-year low of $19.05 and a 1-year high of $34.32.
The GEO Group (NYSE:GEO) last announced its earnings results on Wednesday, February 14th. The real estate investment trust reported $0.38 EPS for the quarter, topping the consensus estimate of $0.35 by $0.03. The company had revenue of $568.98 million for the quarter, compared to analysts’ expectations of $558.72 million. The GEO Group had a return on equity of 13.95% and a net margin of 6.46%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. research analysts expect that The GEO Group Inc will post 1.98 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Friday, February 16th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 8.55%. The ex-dividend date of this dividend is Thursday, February 15th. The GEO Group’s payout ratio is presently 155.37%.
The GEO Group declared that its board has initiated a stock repurchase plan on Wednesday, February 14th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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The GEO Group Company Profile
The GEO Group, Inc is a real estate investment trust (REIT) specializing in the ownership, leasing and management of correctional, detention and re-entry facilities and the provision of community-based services and youth services in the United States, Australia, South Africa, the United Kingdom and Canada.
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