PNC Financial Services Group Inc. Acquires 5,784 Shares of CoreCivic, Inc. (NYSE:CXW)

PNC Financial Services Group Inc. raised its stake in CoreCivic, Inc. (NYSE:CXW) by 15.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,117 shares of the real estate investment trust’s stock after acquiring an additional 5,784 shares during the quarter. PNC Financial Services Group Inc.’s holdings in CoreCivic were worth $916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CXW. FMR LLC lifted its holdings in CoreCivic by 3.8% during the 3rd quarter. FMR LLC now owns 5,117,716 shares of the real estate investment trust’s stock worth $64,739,000 after buying an additional 186,310 shares in the last quarter. State Street Corp raised its position in shares of CoreCivic by 0.4% during the third quarter. State Street Corp now owns 4,200,268 shares of the real estate investment trust’s stock worth $53,133,000 after acquiring an additional 18,415 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of CoreCivic by 0.7% during the third quarter. Geode Capital Management LLC now owns 2,570,005 shares of the real estate investment trust’s stock valued at $32,517,000 after acquiring an additional 18,410 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in CoreCivic by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,481,315 shares of the real estate investment trust’s stock valued at $31,389,000 after acquiring an additional 35,591 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in CoreCivic by 11.4% in the fourth quarter. Allianz Asset Management GmbH now owns 1,513,031 shares of the real estate investment trust’s stock worth $32,893,000 after purchasing an additional 154,426 shares during the period. 85.13% of the stock is owned by institutional investors.

CoreCivic Stock Performance

Shares of CXW stock opened at $20.03 on Tuesday. The stock has a 50-day moving average of $20.10 and a 200-day moving average of $18.21. CoreCivic, Inc. has a one year low of $10.74 and a one year high of $24.99. The stock has a market cap of $2.18 billion, a PE ratio of 32.83 and a beta of 1.02. 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 issued its earnings results on Monday, February 10th. The real estate investment trust reported $0.39 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%. As a group, sell-side analysts expect that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wedbush reiterated an “outperform” rating and set a $30.00 price target on shares of CoreCivic in a research report on Tuesday, February 11th. Noble Financial raised shares of CoreCivic from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 12th. Finally, StockNews.com raised CoreCivic from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th.

CoreCivic Profile

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.