Jennison Associates LLC Sells 62,148 Shares of Corecivic Inc (NYSE:CXW)

Jennison Associates LLC decreased its position in Corecivic Inc (NYSE:CXW) by 4.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,200,379 shares of the real estate investment trust’s stock after selling 62,148 shares during the quarter. Jennison Associates LLC owned 1.01% of Corecivic worth $23,347,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its stake in Corecivic by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 47,474 shares of the real estate investment trust’s stock valued at $923,000 after acquiring an additional 581 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Corecivic by 0.4% during the first quarter. Retirement Systems of Alabama now owns 154,494 shares of the real estate investment trust’s stock worth $3,005,000 after buying an additional 618 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Corecivic by 0.9% during the first quarter. Nomura Asset Management Co. Ltd. now owns 78,600 shares of the real estate investment trust’s stock worth $1,529,000 after buying an additional 700 shares during the period. Nissay Asset Management Corp Japan ADV boosted its stake in shares of 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 worth $202,000 after buying an additional 705 shares during the period. Finally, Alpha Windward LLC boosted its stake in shares of Corecivic by 3.4% during the first quarter. Alpha Windward LLC now owns 23,854 shares of the real estate investment trust’s stock worth $464,000 after buying an additional 780 shares during the period. 80.65% of the stock is currently owned by institutional investors.

Corecivic stock traded down $0.56 during midday trading on Monday, hitting $20.76. 856,000 shares of the stock were exchanged, compared to its average volume of 616,622. The company has a 50 day simple moving average of $22.38. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 8.74 and a beta of 1.09. Corecivic Inc has a 1 year low of $17.16 and a 1 year high of $26.09. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.03 and a current ratio of 1.03.

Corecivic (NYSE:CXW) last posted its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.18). The business had revenue of $484.06 million during the quarter, compared to analyst estimates of $466.75 million. Corecivic had a net margin of 9.09% and a return on equity of 12.72%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $0.53 earnings per share. On average, equities research analysts anticipate that Corecivic Inc will post 2.5 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Monday, July 1st will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 8.48%. Corecivic’s payout ratio is currently 76.19%.

A number of research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Corecivic from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Monday, May 13th. ValuEngine raised shares of Corecivic from a “sell” rating to a “hold” rating in a research note on Saturday, May 18th. Finally, TheStreet upgraded shares of Corecivic from a “c+” rating to a “b-” rating in a research report on Monday, June 10th.

Corecivic Company Profile

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.

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Institutional Ownership by Quarter for Corecivic (NYSE:CXW)

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