Corrections Corp of America (NYSE:CXW) on Wednesday reported that it has done an internal restructuring of its business operations and charges to be qualified as a real estate investment trust for the taxable year 2013.
Board of directors of the company had earlier advised not to choose real estate investment trust status, as the corporation is yet to get a Private Letter Ruling from the Internal Revenue Service.
Corrections Corp of America’s board of directors has collectively authorized management to take all necessary actions to finish the internal restructuring.
Its competitors include The Geo Group, Inc. (NYSE:GEO) that surged 4.47% to $29.46 with the total traded volume of 162,757 shares.
Other services stocks with bullish trend include CVS Caremark Corporation (NYSE:CVS) up +1.88% to $49.26, CSX Corporation (NYSE:CSX) up +2.89% to $20.30 and Wal-Mart Stores, Inc. (NYSE:WMT) up +0.92% to $68.86, whereas with bearish trend include LodgeNet Interactive Corp. (NASDAQ:LNET) down -0.77% to $0.0516, Dollar General Corp. (NYSE:DG) down -0.91% to $43.69 and American Eagle Outfitters (NYSE:AEO) down -2.19% to $20.06.
Corrections Corp Of America (NYSE:CXW)stock’s trade at beginning with a price of $36.42 and the current trading session climbed at a high of $36.64other than the stock finally advanced 3.24% to $36.62.
Shares price of CXW moved up from its 20 days moving average with +3.48% and remote positively from 50 days moving average with +6.46%. CXW current year earnings per share experienced an addition with 10.39% while its current quarter performance remained 6.45%.
CXW has a trade volume of 96,544 shares islesseras compared to average trading capacity of 781,075shares.
CXW last month stock price volatility remained 1.81%. In its share capital CXW has 100.06million outstanding shares among them 98.11million shares have been floated in market exchange. CXW stock institutional ownership remained 89.51% while insider ownership included 0.23%.
The stock is ahead its 52 week low with 79.70% and lagging behind from its 52 week high price with -0.52%. Company’s beta coefficient included 0.97. Beta factors measures the amount of market risk associated with market trade.
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