Is GEO Group private prisons?

Is GEO Group private prisons?

The GEO Group, Inc. (GEO), headquartered in Boca Raton, Florida, is a publicly traded real estate investment trust that invests in private prisons and mental health facilities in North America, Australia, South Africa, and the United Kingdom.

What does GEO stand for in prison?

Wackenhut Corrections Corporation
(GEO), formerly known as Wackenhut Corrections Corporation, “is the world’s leading provider of correctional, detention, and community reentry services,” according to its corporate website, operating 73 facilities with approximately 81,000 beds worldwide, of which 66 facilities and approximately 73,400 are in the U.S. …

Is Geo a federal prison?

GEO Group’s immigrant detention center in Adelanto, Calif. GEO Group, a Florida-based private prison corporation, sued days before Assembly Bill 32 took effect Jan. 1, 2020, calling the law a “transparent attempt by the state to shut down the federal government’s detention efforts within California’s borders.”

What is the most dangerous prison in Indiana?

Miami Correctional Facility
The Miami Correctional Facility in Bunker Hill, Indiana. The Miami Correctional Facility is getting more dangerous.

Is Geo stock a buy or sell?

The GEO Group has received a consensus rating of Hold. The company’s average rating score is 2.00, and is based on no buy ratings, 1 hold rating, and no sell ratings.

Are private prisons a good investment?

Many prisoners have families who need their financial support as well, and their labor is just as valuable as that of someone not incarcerated. Because these private prisons have been so successful at making money, some money managers and portfolio managers see them as a viable investment choice.

Is GEO Group a buy?

The Geo Group Inc (The) stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average.

Is Geo a good buy?

PE vs Industry: GEO is good value based on its PE Ratio (6.8x) compared to the US REITs industry average (47.8x). PE vs Market: GEO is good value based on its PE Ratio (6.8x) compared to the US market (17.9x).

What is the biggest prison in Indiana?

New Castle Correctional Facility
The largest privately run prison is the New Castle Correctional Facility with more than 2,400 beds.

Has anyone escaped from Indiana State Prison?

Lance Battreal, Charles Smith, and Mark Booher escaped from a Michigan City, Indiana prison on July 12, 2009 through tunnels under the prison yard.

Why is geo dropping?

Shares of prison real estate investment trust (REIT) The GEO Group (NYSE: GEO) fell a painful 19.5% in February according to data from S&P Global Market Intelligence. The big drop, however, really took place after the company reported earnings in the middle of the month. Clearly investors didn’t like the update.

What kind of Prisons does the GEO Group own?

GEO Group facilities include prisons of all three security levels, immigration detention centers, minimum-security detention centers, and mental-health and residential-treatment facilities. It owns numerous facilities and, in other cases, operates state or federal facilities under contract.

Who is the owner of the Western Region detention facility?

Western Region Detention Facility – GEO is detention facility owned by private prison company to handle the intake, and housing of offenders for the San Diego County Sheriff, the State of California, Bureau of Prisons, the US Marshal Service and Immigration (ICE).

What kind of business does Geo corrections do?

The U.S. corrections segment primarily encompasses GEO’s U.S.-based privatized corrections and detention business for federal and state authorities. The international services segment primarily consists of GEO’s privatized corrections and detention operations in South Africa, Australia, and the United Kingdom.

When did the GEO Group acquire Cornell Corrections?

On August 12, 2010, the GEO Group acquired Cornell Companies, formerly Cornell Corrections, for $730 million in stock and cash. In February 2011, GEO announced the $415M acquisition of BI Incorporated, provider of electronic offender-tracking equipment and services, founded in 1978 and based in Boulder, Colorado.