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Corrections Corporation of America Message Board

  • flipper_58 flipper_58 Mar 23, 1999 1:40 PM Flag

    What do you get for $8/share these days?

    Here I go with my calculator
    again.....

    Assuming a CONSTUCTION cost of $35k per bed, PZN's 30K
    beds are worth $10 per share. Forgetting any step-ups,
    etc..

    Your risk/investment, as I see it is
    $8/share in PZN for I can't imagine ANY near term problems
    that would cause prison beds to sell BELOW
    construction costs if PZN sold their all their beds.

    If
    you believe those assumptions then at $18/share you
    should have ALL of your risked funds invested in PZN
    back by the Fall of 2001 or 2 1/4 years($1.80
    remaining 1999 special and regular div.+ $1.80 special
    1999, $2.40 for 2000 regular div., 3 divs. in
    2001=$1.80....total $7.80 paid out) So by the Fall of 2001 you will
    have almost zero risk with your remaining investment.

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    • the correct (erroneous) data provider and for
      your explanation of how and why Reuters does what it
      does.

      Mea culpa for my not checking here on Yahoo for its
      appropriate source provider of the subject data before
      initiating posting #662 ("I know ....) and my apologies to
      M-G for blaming them. They have plenty to be blamed
      for otherwise.

      As I said earlier, it appears
      that the refusal of Yahoo, Reuters, or M-G to
      acknowledge certain statistical/data elements of PZN
      pre-merger, is, according to PZN, responsible for the bad
      info shown.

    • Here's the way Yahoo determines the way they're
      going to show the dividend and its yield (actually,
      it's the way Reuters does it and Yahoo gets it from
      Reuters).

      It's a bit complicated and not the way the rest of the
      world does it. They are trying to get at a recurring
      rate.

      So, here's the rules:

      1) If the stocks
      dividend has been different for the last 3 quarters (for
      example, if it's increased every quarter), they will use
      the sum of the last 4 quarters (they assume it's not
      recurring and not stable, regardless of the fact that it's
      only been increasing in most cases).

      2) If 2
      of the last three dividends were the same, they will
      annualize that number and use it to calculate the yield.
      (again, assuming it's recurring and stable).

      I
      don't know why Yahoo is screwing up PZN's yield. They
      should be showing $0.48 x 4 = $1.84. It must be related
      to the merger. Maybe the CUSIP number changed or
      something.

      Who cares, anyway? Anyone who studies the stock will
      learn the value of the business. People who are
      investing because they see a stock yielding 12% and they
      know nothing about it will only add volatility and
      risk to the stock.

      My $0.02. Hope it's useful.
      Buy it, stick it away and forget about it.

    • CCA stock had a market value over $40 at one time
      so I don't think that investors are overlooking this
      stock. PZN is being penalized because of risk. Most
      investors demand a greater return given the risks. I think
      investors recognize the following issues: corrections
      stocks were over valued, earnings growth rates are down,
      the merger was confusing (also insider and
      self-dealing issues), surpluses in federal and state
      governments will impact contracting out activity, overall
      market risks (i.e., Asia), event driven risks (escapes,
      riots, etc.).

    • For sure i can tell you that anything that isn't
      related to .com, or a tech is very overlooked these days.
      Thankfully I got into CMGI at the right time. And i'm pretty
      sure that PZN is far far down the list for a lot of
      people. None of my investing friends would ever touch
      this stock, the image of course. But, i'm still in it,
      knowning fully well that its day in the sun will be here
      sooner or later. BTW, for anyone who is looking at good
      divi's, here are a few of mine.......DXCPN DXCPO ENP LHP
      HR WEC
      IBI (ok, ok, im not in this for the
      dividends, but they do pay, and the pictures are great at
      their site.)......SGOLY, and of course PZN. Thanks for
      the symbols.

    • I just don't get it. They're making money,
      they've got a good payout ratio, nice dividends for
      unitholders, crime is a growth industry, we're in good times
      now so bad times will be even better for prisons, yet
      this stock sinks like a rock. I don't believe Wall st.
      is wrong, so there must be something we don't know.
      Perhaps the anti-private prison activists will succedd in
      forcing state governments not to renew private prison
      contract?

      WHAT GIVES?!

    • I also own several, I like PZN the best.NDE looks ready to run.Also I like UIRT & ICMI, Check them out, I am capturing a great divi while buying @ the bottom and waiting for appreciation

    • Some of the other reits I own :
      skt - great
      father and son management. Dividend is only around

      70% of FFO the last time I calculated.
      hrp - FFO
      are starting to increase at double digit. May
      spin
      off part of business as separate reit.
      mt -
      got screwed from being a paired reit. New management.
      Looks
      undervalued. Good turn around canadate. Dividend
      is secure.
      egp - Very undervalued.

    • I think there's an inverse relationship between
      your sense of
      humor and PZN $$. 'Specially like (f)
      and (g) at end of 668,
      but real winner is (e).
      Clinton needs you. His Gridiron material
      was worse
      than the Correspondents' Dinner.

      I figure to
      buy some more when the dividend % gets to 40, which
      is coming up fairly soon, IMO. Can't wait. Would
      love to see
      the look on naysayers' faces when we
      can buy a 40% returner for single digits. Hell, I'm
      selling all my Peritus just to have the
      cash.

    • Got pretty upset about selling this morning and
      looked for a good pump & dump all afternoon - found it
      with BEAM breaking out and got my $ back. Sure don't
      recommend doing that all the time - I still like PZN.
      Legg-Mason contact just said (Tuesday) they were selling.
      Didn't say why, but that was enough. I'll be back in
      after this craziness settles down; the story is great -
      a leader in their niche with business going
      gangbusters. If this kind of dividend continues, this is a
      no-brainer!

    • View More Messages
 
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