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Niche Industry REIT Yields 7.5%, Strong Balance Sheet, Near 52-Week Lows, 11% Below Lowest Price Target

Published Sun, 10 Dec 2017 09:47:00 -0500 on Seeking Alpha

"I think clearly our shares are undervalued, and if I look at just one being a REIT, primarily in our case obviously exclusively working with government with 17 million square footage, we are one of the largest, if not the largest government REIT out there. And so, I look at other publicly traded REITs that are a third the size of the company and they're trading on FFO multiples of 15, 16, 17 times and we're in 11 times, I think (we) definitely can make the case (that) we're undervalued."
"For the first time in several years, we do not have one contract that makes over 10% of our total revenues. We think we have diminished the risk that maybe worried investors here in the last couple of years."
"I just look around and see what's going on with these jurisdictions with either growth or overcrowding, but we've really come to appreciate here in the last 12 months there is a lot of old antiquated facilities out there that need to be replaced." (Source: Q3 '17 earnings call)
These bullish statements were made by the CEO of CoreCivic, Inc. (CXW), a REIT which specializes in running and operating privatized correctional and detention facilities in the US. It owns, operates, and manages prisons and other correctional facilities and provides inmate residential and prisoner transportation services for governmental agencies. The company also offers various rehabilitation and educational programs, including basic education,... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
CORECIVIC 18.06   12.0 1.51 1.76 9.83


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