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Stock Market & Financial Investment News

News For GEO From The Last 14 Days
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December 19, 2014
08:39 EDTGEOGeo Group announces 626-bed expansion of Karnes County Residential Center
The GEO Group announced the development of a 626-bed expansion to the company-owned, 532-bed Karnes County Residential Center in Texas under an amendment to GEO’s existing contract with Karnes County, Texas and the existing intergovernmental service agreement between Karnes County and U.S. Immigration and Customs Enforcement. GEO will finance, develop, and manage the $36M expansion, which will increase the Facility’s total capacity to 1,158 beds. The expansion is expected to generate approximately $20M in additional annualized revenues for GEO and returns on investment consistent with GEO’s company-owned facilities. GEO expects to complete the 626-bed expansion and begin intake in the fourth quarter of 2015.
05:53 EDTGEOPrison REIT sector initiated with a Market Weight at Wells Fargo
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05:35 EDTGEOGeo Group initiated with a Market Perform at Wells Fargo
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