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GEO Group (GEO) Announces Public Offering of 6M Shares

Zacks Equity Research

The GEO Group, Inc. GEO has announced the public offering of six million common shares. The move is likely to add to the financial flexibility of this Boca Raton, FL-based real estate investment trust (“REIT”).

GEO Group specializes in design, development, financing and operation of correctional, detention and community reentry facilities. It has operations in the U.S., Australia, South Africa, and the U.K. Nevertheless, the company plans to utilize the net proceeds to repay the outstanding amount under the company’s revolver portion of senior credit facility. Also, the company intends to use the proceeds for general corporate purposes.

Currently, GEO Group carries a Zacks Rank #3 (Hold).
Shares of GEO Group outperformed the Zacks categorized REIT and Equity Trust – Other industry over the past three months. During that time frame, shares of the company grew 30%, whereas the industry gained 3.8%.  

Investors interested in the REIT and Equity Trust – Other industry, may consider stocks like Global Net Lease, Inc. GNL, CoreSite Realty Corporation COR and CorEnergy Infrastructure Trust, Inc. CORR. All these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.

In the past 30 days, Global Net Lease’s funds from operations (FFO) per share for first-quarter 2017 escalated 11.1% to 60 cents.

In the past 30 days, CoreSite Realty’s FFO per share for first-quarter 2017 increased 5% to $1.06.

CorEnergy Infrastructure Trust’ first-quarter 2017 FFO per share estimates remained unchanged at $1.07, in the past 30 days.

Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.

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Geo Group Inc (The) (GEO): Free Stock Analysis Report
CoreSite Realty Corporation (COR): Free Stock Analysis Report
CorEnergy Infrastructure Trust, Inc. (CORR): Free Stock Analysis Report
Global Net Lease, Inc. (GNL): Free Stock Analysis Report
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