"Also it should reflect the beginning of much higher occupancy rates from the new contracts"
I think you will have to wait for the 4th qtr financials for clean statements without special charges and for higher occupancy. Doesn't appear that we got any inmates during the 3rd qtr from the new contracts.
For the second distribution of the pref B., record date was 11/6.
Common now at $.50 bid which puts a fair value on the pref B of $12.23. Any sale in the $15 range looks good at this point. IMO, the common will continue to drop, again not fully relating to the company but the shear volume of new shares created.
I checked the quote on the 12% unsecured debentures(bonds), they are trading roughly with a $50-$60 work out bid with a silly offer up in the 80's. So that's $.50 on the dollar. That's a 20%-24% yield on the bonds. All other paper should be based on that. This common stock is over valued under those conditions.
The common is selling with due bill through Nov. 13. If you buy by then you get the div.
NASHVILLE, Tenn.--(BUSINESS WIRE)--Oct. 25, 2000-- Corrections Corporation of America (formerly Prison Realty Trust, Inc.) (NYSE: CXW - news) announced today that it will issue approximately 1,589,112 additional shares of its Series B Cumulative Convertible Preferred Stock on Monday, November 13, 2000, to its common stockholders of record on Monday, November 6, 2000,