Corecivic Inc (NYSE:CXW) declared a quarterly dividend on Friday, May 17th, Wall Street Journal reports. Investors of record on Monday, July 1st will be paid a dividend of 0.44 per share by the real estate investment trust on Tuesday, July 16th. This represents a $1.76 annualized dividend and a yield of 10.35%. The ex-dividend date is Friday, June 28th.
Corecivic has decreased its dividend payment by an average of 7.1% annually over the last three years. Corecivic has a dividend payout ratio of 75.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Corecivic to earn $2.55 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 69.0%.
Corecivic stock traded down $0.61 during trading hours on Thursday, reaching $17.00. 970,855 shares of the company’s stock were exchanged, compared to its average volume of 684,244. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s 50 day moving average price is $21.35. Corecivic has a twelve month low of $17.00 and a twelve month high of $26.09. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 7.36 and a beta of 1.09.
Several analysts have recently commented on CXW shares. TheStreet downgraded Worthington Industries from a “b-” rating to a “c+” rating in a research note on Monday, June 10th. Zacks Investment Research downgraded H&E Equipment Services from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd.
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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