Chartwell Investment Partners LLC trimmed its stake in Corecivic Inc (NYSE:CXW) by 93.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,382 shares of the real estate investment trust’s stock after selling 930,838 shares during the period. Chartwell Investment Partners LLC owned about 0.05% of Corecivic worth $1,252,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Orrstown Financial Services Inc. acquired a new stake in Corecivic in the first quarter valued at $36,000. Oregon Public Employees Retirement Fund increased its holdings in Corecivic by 1,707.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 836,102 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 789,856 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Corecivic by 15.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,231 shares of the real estate investment trust’s stock valued at $147,000 after purchasing an additional 1,074 shares during the period. Tower Research Capital LLC TRC boosted its position in Corecivic by 411.3% during the third quarter. Tower Research Capital LLC TRC now owns 6,764 shares of the real estate investment trust’s stock valued at $164,000 after acquiring an additional 5,441 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its position in Corecivic by 6.6% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 11,310 shares of the real estate investment trust’s stock valued at $202,000 after acquiring an additional 705 shares during the last quarter. Institutional investors and hedge funds own 81.78% of the company’s stock.
A number of analysts have commented on the stock. Zacks Investment Research cut shares of Corecivic from a “hold” rating to a “sell” rating in a research report on Tuesday, February 26th. ValuEngine raised shares of Corecivic from a “strong sell” rating to a “sell” rating in a research report on Monday, February 4th. Finally, TheStreet cut shares of Corecivic from a “b-” rating to a “c+” rating in a research report on Tuesday, December 18th.
Shares of CXW opened at $20.23 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.26. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 8.76 and a beta of 1.32. Corecivic Inc has a 12 month low of $17.16 and a 12 month high of $26.09.
Corecivic (NYSE:CXW) last issued its quarterly earnings results on Tuesday, February 19th. The real estate investment trust reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.22). The firm had revenue of $482.19 million for the quarter, compared to the consensus estimate of $459.32 million. Corecivic had a net margin of 8.67% and a return on equity of 11.80%. As a group, sell-side analysts predict that Corecivic Inc will post 2.44 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, March 29th. This represents a $1.76 dividend on an annualized basis and a yield of 8.70%. This is a boost from Corecivic’s previous quarterly dividend of $0.43. Corecivic’s dividend payout ratio is 76.19%.
In other news, CEO Damon T. Hininger sold 21,251 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $20.69, for a total transaction of $439,683.19. Following the transaction, the chief executive officer now owns 273,493 shares of the company’s stock, valued at approximately $5,658,570.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thurgood Marshall, Jr. sold 7,200 shares of the stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $19.30, for a total transaction of $138,960.00. Following the transaction, the director now directly owns 36,447 shares in the company, valued at approximately $703,427.10. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through corrections and detention management, a growing network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.
Further Reading: Special Dividends
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