I've been watching CCA (now PZN) for quite some time. I don't understand why the stock has done as poorly as it has. I guess it's due to the fact that it is a REIT. Looking at the $23 book value and their past stock performance, I'm thinking of buying.
Does anyone have any thoughts on whether now is a good time to buy?
I am a resident of Avery County NC. Where PZN has just built a new prison. I have been a investor in the financial markets for years. And Have considered myself to be a socially responsible investor. And I have to say that "Prison for profit" Really turns my stomach. Yes. Our country's prisons are overflowing. But its time for us as a country to start finding ways to reduce the prison population. NOT ACOMMIDATE IT!!! Placing Our prison system in the hands of the public is for me at least, a Very Scary thing. Yes, PZN by doing lease backs to the local goverments. Is saving the governments some money. But, are these local governments using these savings to find better ways to reduce the populations. i.e. programs to give people at risk of inprisonment skills they can use to be productive citizens and stay out of prison? Or are they using these savings to hire more police? I guess my real fear is that when prisons start becomming publically traded enities where profit is the ultimate goal. That the civil rights of those in these prisons will fall by the wayside. maybe not. Maybe i'm wrong. I certainly hope so. I'll quit preaching now . But, i hope i have made at least some of you give some some of these questions some thought.
I have worked for government corrections agencies. We are doing a better job at lower cost to the taxpayer. What the gov't is doing with those savings is not for us to dertermine. But I can tell you from experience, as far as rehabilitation and programs we have them beat hands down. I to hope there will be no need for prisons, but as long as there is, CCA and PZN is the way to go.
not. Actually it has done so poorly because I bought so much of it. Book value really isn't all that relevant to PZN. After all, they're only prisons, swamps and desert. No, it's growth in funds from operations and growth rate that I hope will carry the day. But who knows? At the rate PZN continues to access new credit lines Crants must be planning to incarcerate all of us. If enough people pay attention to book value it's Death Row for some time to come.