Millennium Management LLC trimmed its position in The GEO Group Inc (NYSE:GEO) by 19.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 736,280 shares of the real estate investment trust’s stock after selling 173,801 shares during the quarter. Millennium Management LLC owned approximately 0.59% of The GEO Group worth $17,376,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Advisor Group Inc. raised its holdings in shares of The GEO Group by 115.1% in the 4th quarter. Advisor Group Inc. now owns 4,869 shares of the real estate investment trust’s stock valued at $115,000 after purchasing an additional 2,605 shares during the period. Amundi Pioneer Asset Management Inc. bought a new stake in shares of The GEO Group in the 4th quarter valued at about $197,000. First Citizens Bank & Trust Co. bought a new stake in shares of The GEO Group in the 4th quarter valued at about $265,000. Lazard Asset Management LLC bought a new stake in shares of The GEO Group in the 4th quarter valued at about $276,000. Finally, Synovus Financial Corp raised its holdings in shares of The GEO Group by 51.7% in the 4th quarter. Synovus Financial Corp now owns 12,412 shares of the real estate investment trust’s stock valued at $294,000 after purchasing an additional 4,229 shares during the period. 94.19% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently issued reports on GEO shares. SunTrust Banks reaffirmed a “buy” rating and issued a $32.00 target price on shares of The GEO Group in a report on Wednesday, January 31st. ValuEngine cut shares of The GEO Group from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research raised shares of The GEO Group from a “sell” rating to a “hold” rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $34.00.
The GEO Group (NYSE:GEO) last released its quarterly earnings results on Wednesday, February 14th. The real estate investment trust reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.03. The firm had revenue of $568.98 million for the quarter, compared to analysts’ expectations of $558.72 million. The GEO Group had a net margin of 6.46% and a return on equity of 13.95%. The business’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. equities analysts forecast that The GEO Group Inc will post 1.95 earnings per share for the current fiscal year.
The GEO Group declared that its board has authorized a stock buyback plan on Wednesday, February 14th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
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About The GEO Group
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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