Zacks Investment Research upgraded shares of Corecivic (NYSE:CXW) from a hold rating to a buy rating in a research note released on Tuesday. They currently have $26.00 price target on the real estate investment trust’s stock.

According to Zacks, “CoreCivic, Inc. is a real estate investment trust which provides correctional, detention and residential reentry facilities. It designs, constructs, owns, manages and renovates jails, prisons, government agencies and inmate transportation companies. CoreCivic, Inc., formerly known as Corrections Corporation of America, is based in Nashville, Tennessee. “

CXW has been the subject of a number of other research reports. SunTrust Banks reiterated a buy rating and issued a $37.00 price target on shares of Corecivic in a research note on Friday, November 10th. ValuEngine downgraded shares of Corecivic from a buy rating to a hold rating in a research note on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $33.50.

Shares of Corecivic (NYSE CXW) traded down $1.11 during trading on Tuesday, reaching $22.44. 1,153,800 shares of the company were exchanged, compared to its average volume of 1,029,900. Corecivic has a one year low of $21.41 and a one year high of $35.33. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $2,650.00, a P/E ratio of 13.44, a P/E/G ratio of 1.69 and a beta of 0.89.

Corecivic (NYSE:CXW) last issued its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. Corecivic had a net margin of 11.03% and a return on equity of 13.54%. The company had revenue of $442.80 million during the quarter, compared to the consensus estimate of $437.18 million. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. analysts predict that Corecivic will post 2.34 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Tuesday, January 2nd will be given a dividend of $0.42 per share. The ex-dividend date is Friday, December 29th. This represents a $1.68 annualized dividend and a dividend yield of 7.49%. Corecivic’s dividend payout ratio is presently 100.60%.

In other news, CFO David Garfinkle sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $26.01, for a total transaction of $260,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. Advisory Services Network LLC lifted its position in shares of Corecivic by 115.0% during the 2nd quarter. Advisory Services Network LLC now owns 4,093 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 2,189 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Corecivic by 11.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,266 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 452 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Corecivic by 152.7% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,818 shares of the real estate investment trust’s stock worth $156,000 after buying an additional 3,516 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Corecivic by 8.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 8,272 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 629 shares during the last quarter. Finally, Stevens Capital Management LP purchased a new stake in shares of Corecivic during the 2nd quarter worth approximately $228,000. Institutional investors and hedge funds own 83.17% of the company’s stock.

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About Corecivic

CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.

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