Movers and SHAKERS
The GEO Group, Inc. (GEO)
Dinner with CFO Brian Evans and EVP Corporate Relations Pablo Paez
With over 94,000 beds owned, leased or managed across its business lines and serving over 260,000 people daily, GEO is a leading provider of mission critical real estate to its governmental partners. The Company is the first fully integrated equity REIT specializing in the design, financing, development, and operation of secure facilities, processing centers, and community reentry centers in the U.S., Australia, South Africa, and the U.K.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Dinner Meeting. We met with GEO CFO Brian Evans and EVP of Corporate Relations Pablo Paez. We discussed a number of topics including the recent loss of BoP contracts, the recent dividend cut, and the new Administration and its potential impact on GEO's core business. While the business could experience more short-term uncertainty, we continue to believe the services provided by GEO will remain in demand.
Dividend Cut. On January 15th, GEO announced a reduction in its quarterly dividend to $0.25 per share from $0.34, which was down from $0.48 at the beginning of the year. The most recent reduction will help accelerate debt reduction, as well as provide cushion given the unsettled operating environment. GEO will free up approximately $43 million on an annual basis versus the previous dividend level ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.