What everyone forgets is that OPCO and PZN together account for the total business of old CCA. Whatever happens to OPCO would have happened to CCA, which used to be a growth stock (how would it fare if it started missing earnings?).
But that is probably part of the problem now. A lot of analysts fear that mgmt no longer has a handle on its business, and mgmt hasn't done anything yet to dispell that notion (at least since Friday, which is the only history that counts right now).
It also seems that most analysts overlook the obvious fact that OPCO is totally subservient to PZN, which gives PZN the fabulous lease rates nobody else can match. That happens because OPCO doesn't make money. But it has to survive to retain the REIT structure (which itself may be a questionable objective).
Right now everybody talks about "mgmt". It's one person. This is now a Doc Crants issue. The guy who started the company - actually started the private market - and who built this company to the point where it is without serious competition, has finally stubbed his toe. The next two weeks will tell if it is life-threatening or not, as he works on the debt deal. If that gets done reasonably well, things will improve (maybe not quickly, as far as the stock price).