Miller Howard Investments Inc. NY reduced its position in The GEO Group Inc (NYSE:GEO) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 200,340 shares of the real estate investment trust’s stock after selling 6,665 shares during the quarter. Miller Howard Investments Inc. NY owned 0.16% of The GEO Group worth $5,041,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of GEO. Qube Research & Technologies Ltd purchased a new stake in The GEO Group in the 2nd quarter worth about $116,000. Centaurus Financial Inc. purchased a new stake in The GEO Group in the 2nd quarter worth about $149,000. Itau Unibanco Holding S.A. purchased a new stake in The GEO Group in the 2nd quarter worth about $169,000. Creative Planning purchased a new stake in The GEO Group in the 3rd quarter worth about $204,000. Finally, Jane Street Group LLC purchased a new stake in The GEO Group in the 2nd quarter worth about $206,000. 92.18% of the stock is currently owned by institutional investors.
GEO has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of The GEO Group from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research report on Monday, July 23rd. ValuEngine raised shares of The GEO Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th.
The GEO Group stock opened at $23.00 on Tuesday. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.46 and a current ratio of 1.46. The GEO Group Inc has a 1-year low of $19.05 and a 1-year high of $28.06. The stock has a market capitalization of $2.82 billion, a P/E ratio of 9.02, a PEG ratio of 1.98 and a beta of 1.19.
The GEO Group (NYSE:GEO) last issued its earnings results on Thursday, August 2nd. The real estate investment trust reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.15). The company had revenue of $583.51 million for the quarter, compared to analysts’ expectations of $573.70 million. The GEO Group had a return on equity of 13.90% and a net margin of 6.45%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business posted $0.61 earnings per share. Sell-side analysts expect that The GEO Group Inc will post 1.95 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 2nd. Stockholders of record on Friday, October 26th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 8.17%. The ex-dividend date is Thursday, October 25th. The GEO Group’s dividend payout ratio (DPR) is presently 73.73%.
About The GEO Group
The GEO Group, Inc (NYSE: GEO) is the first fully integrated equity real estate investment trust ("REIT") 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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