CoreCivic (NYSE:CXW) Now Covered by Benchmark

Benchmark initiated coverage on shares of CoreCivic (NYSE:CXW) in a research report sent to investors on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating and a $28.00 price objective on the real estate investment trust’s stock.

A number of other equities research analysts have also commented on the company. JonesTrading restated a “buy” rating and set a $30.00 price target on shares of CoreCivic in a research report on Friday, February 13th. Wall Street Zen upgraded CoreCivic from a “hold” rating to a “buy” rating in a research report on Sunday, March 8th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, CoreCivic presently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

CoreCivic Trading Down 1.5%

Shares of CXW stock opened at $19.94 on Tuesday. The company has a market capitalization of $1.95 billion, a P/E ratio of 18.46 and a beta of 0.72. CoreCivic has a 12-month low of $15.73 and a 12-month high of $23.54. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average price of $18.70 and a 200 day moving average price of $18.85.

CoreCivic (NYSE:CXW) last issued its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.16). The firm had revenue of $603.95 million for the quarter, compared to the consensus estimate of $585.12 million. CoreCivic had a return on equity of 8.17% and a net margin of 5.27%.CoreCivic’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 earnings per share. Research analysts forecast that CoreCivic will post 1.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CoreCivic

A number of large investors have recently modified their holdings of CXW. Advisors Asset Management Inc. bought a new stake in shares of CoreCivic during the second quarter valued at approximately $25,000. NBC Securities Inc. raised its position in CoreCivic by 533.9% in the 4th quarter. NBC Securities Inc. now owns 1,458 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 1,228 shares during the last quarter. Covestor Ltd raised its position in CoreCivic by 31,516.7% in the 3rd quarter. Covestor Ltd now owns 1,897 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 1,891 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in CoreCivic by 33.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 702 shares in the last quarter. Finally, Leonteq Securities AG acquired a new position in CoreCivic during the 4th quarter worth $57,000. 85.13% of the stock is currently owned by institutional investors and hedge funds.

About CoreCivic

CoreCivic, Inc (NYSE: CXW) is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.

CoreCivic’s portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.