I'm long two deep value REITs paying 11 - 13% forward dividends, with a high probability of a re-rate after the 2020 US election - target upside is dividends + 50 - 60% re-rate. In this 2-part series, we deep dive into Corecivic and GEO Group - long government contracts with federal and state entities, 40+ years in the business, Moody's credit rating of B+, and increasing AFFO + dividends.
I have both in port for at least some time, i am a patient investor. For me, these stocks will never be core investments.
CoreCivic Reports Fourth Quarter and Full Year 2019 Financial Results Highlights of Full Year 2019 Total revenue of $1.98 billion, an increase of 8% CoreCivic Safety revenue of $1.78 billion, an increase of 6% CoreCivic Community revenue of $123.3 million, an increase of 21% CoreCivic Properties revenue of $77.3 million, an increase of 34% Net income of $188.9 million, an increase of 19% Adjusted net income of $204.8 million, an increase of 19% Diluted EPS of $1.59, an increase of 19% Adjusted diluted EPS of $1.72, an increase of 19% Normalized FFO per diluted share of $2.62, an increase of 13% Adjusted EBITDA of $443.9 million, an increase of 12% https://finance.yahoo.com/news/corecivic-reports-fourth-quarter-full-211510509.html
The GEO Group, Inc. (NYSE:GEO) shareholders (or potential shareholders) will be happy to see that the Founder, George Zoley, recently bought a whopping US$4.5m worth of stock, at a price of US$16.96. Not only is that a big swing, but it increased their holding size by 14%, which is definitely great to see. https://finance.yahoo.com/news/insider-buying-geo-group-inc-143124290.html
CoreCivic Reports First Quarter 2020 Financial Results First Quarter 2020 Highlights Activated our Emergency Operations Center and implemented our crisis response plan to address the potential impact of COVID-19 on staff and residents entrusted to our care Balance Sheet Highlights as of March 31, 2020">Balance Sheet Highlights as of March 31, 2020 Cash and cash equivalents of $335.5 million Availability under revolving credit facility of $146.7 million No material capital commitments No debt maturities until October 2022 Statement of Operations – First Quarter 2020 Total revenue of $491.1 million, an increase of 1.5% CoreCivic Safety revenue of $437.8 million CoreCivic Community revenue of $30.6 million CoreCivic Properties revenue of $22.7 million Net income attributable to common stockholders of $32.1 million Diluted EPS of $0.27 Adjusted diluted EPS of $0.30 Normalized FFO per diluted share of $0.54 Adjusted EBITDA of $100.4 million https://finance.yahoo.com/news/corecivic-reports-first-quarter-2020-201510618.html
CoreCivic, Inc. (CXW) (the Company) released today its annual Environmental, Social and Governance (ESG) Report, including the five-year outcomes of unprecedented reentry goals established by the Company in 2014. "Five years ago I delivered a speech to employees, sharing my reentry vision for CoreCivic," said Damon Hininger, president and chief executive officer. "I am pleased that this report shows how we were able to meet or exceed many of those goals, while making significant progress elsewhere. It provides a transparent look at how we are helping people reintegrate into their communities, and how our efforts are making those communities stronger." www.CoreCivic.com.">The 40-page document is the Company's second report, following publication of the industry's first ESG Report in 2019. It reviews the impact of CoreCivic's operations on society and the environment, reentry outcomes, human rights, and how the company is responding to the COVID-19 pandemic. The report can be found at www.CoreCivic.com. Among the noteworthy achievements highlighted in CoreCivic's 2019 ESG Report: Educational Services - CoreCivic reported 23,328 industry recognized certifications (IRCs), exceeding its goal by two percent. The Company reported 7,338 high school equivalency (HSE) diplomas, falling short of its five-year goal by 2 percent. Treatment and Behavioral Programs - CoreCivic reported an 83 percent program completion rate, exceeding its five-year goal of 75 percent. Victim Impact Programming - CoreCivic reported a total of 3,283 program completions, exceeding its five-year goal of 2,300. Reentry Services – CoreCivic reported that the Go Further Reentry Journal program grew by 98 percent over last year with 6,229 completions. Chaplaincy and Religious Services – CoreCivic reported that 721 individuals completed the Threshold Program, falling short of the target of 975. The program is designed to help people improve relationships and decision-making within a faith-based or secular context. Hininger noted that the response to CoreCivic's first ESG Report was positive, particularly as it relates to the Company's Human Rights Commitment. In this second report, CoreCivic explores the Human Rights Risk Assessment conducted in 2019 under the United Nations Guiding Principles reporting framework. The risk assessment is an industry first and helps identify opportunities to improve the protection and promotion of human rights in CoreCivic operations. The 2019 ESG Report also updates stakeholders on CoreCivic's response to COVID-19 and the steps it has taken thus far to prevent and manage the pandemic in its facilities. Other areas covered by the report include green design and sustainable energy, corporate governance, quality assurance, supplier diversity, charitable giving, ethics, training and employee engagement. https://finance.yahoo.com/news/corecivic-releases-esg-report-outlining-130010881.html
