Forest Avenue Capital Management LP Makes New Investment in CoreCivic, Inc. (NYSE:CXW)

Forest Avenue Capital Management LP bought a new stake in CoreCivic, Inc. (NYSE:CXW) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 515,400 shares of the real estate investment trust’s stock, valued at approximately $11,205,000. CoreCivic accounts for 1.0% of Forest Avenue Capital Management LP’s portfolio, making the stock its 21st biggest position. Forest Avenue Capital Management LP owned 0.47% of CoreCivic as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of CoreCivic by 47.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 193,459 shares of the real estate investment trust’s stock worth $2,447,000 after purchasing an additional 62,022 shares during the period. HighTower Advisors LLC lifted its position in shares of CoreCivic by 13.7% during the 3rd quarter. HighTower Advisors LLC now owns 15,549 shares of the real estate investment trust’s stock valued at $205,000 after acquiring an additional 1,877 shares during the period. State Street Corp grew its holdings in shares of CoreCivic by 0.4% during the 3rd quarter. State Street Corp now owns 4,200,268 shares of the real estate investment trust’s stock worth $53,133,000 after purchasing an additional 18,415 shares in the last quarter. Wellington Management Group LLP raised its stake in CoreCivic by 1.9% in the third quarter. Wellington Management Group LLP now owns 1,059,925 shares of the real estate investment trust’s stock valued at $13,408,000 after purchasing an additional 19,706 shares in the last quarter. Finally, Barclays PLC grew its stake in CoreCivic by 312.4% during the third quarter. Barclays PLC now owns 184,332 shares of the real estate investment trust’s stock worth $2,331,000 after buying an additional 139,631 shares in the last quarter. 85.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $30.00 price objective on shares of CoreCivic in a research note on Tuesday, February 11th. Noble Financial raised shares of CoreCivic from a “market perform” rating to an “outperform” rating in a research note on Wednesday, February 12th. Finally, StockNews.com upgraded CoreCivic from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th.

CoreCivic Stock Performance

CoreCivic stock opened at $21.51 on Monday. The business has a 50 day moving average of $19.45 and a 200-day moving average of $19.27. The company has a market capitalization of $2.35 billion, a P/E ratio of 35.26 and a beta of 0.86. CoreCivic, Inc. has a 1 year low of $10.74 and a 1 year high of $24.99. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.57 and a quick ratio of 1.51.

CoreCivic (NYSE:CXW) last announced its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.06. CoreCivic had a net margin of 3.51% and a return on equity of 5.97%. On average, equities research analysts predict that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

About CoreCivic

CoreCivic, Inc owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions.