Corecivic Inc (NYSE:CXW) announced a quarterly dividend on Friday, May 17th, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 10.35%. The ex-dividend date of this dividend 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% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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%.
Shares of NYSE CXW traded down $0.61 during mid-day trading on Thursday, hitting $17.00. 970,855 shares of the company’s stock traded hands, compared to its average volume of 684,244. The company has a market capitalization of $2.08 billion, a P/E ratio of 7.36 and a beta of 1.09. The business has a 50-day moving average of $21.25. Corecivic has a 1 year low of $17.00 and a 1 year high of $26.09. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.03 and a quick ratio of 1.03.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, TheStreet cut shares of Worthington Industries from a “b-” rating to a “c+” 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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