Prison Stocks No Longer Hot: They're Going REIT
In the 1980s and '90s, private prisons were hot stocks, sometimes posting triple-digit earnings gains. Those days appear to be over. The market's two private prison stocks are becoming REITs. Geo Group (GEO) announced on Jan. 2 that it had completed the process to convert to a real estate investment trust, effective Jan. 1. The REIT structure often leads to bigger dividend payouts, and that appears likely with Geo. In an early December news
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