The Geo Group, Inc. (NYSE:GEO)
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The Company is a provider of government-outsourced services specializing in the management of correctional, detention and mental health and residential treatment facilities in the US, Australia, South Africa, the United Kingdom and Canada.
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I'm personally not all that comfortable with investing real money in a private prison operator from a moral perspective, but I think that a conversion into a REIT would be a great move for Geo Group (GEO). This situation hasn't gotten nearly as much publicity as Corrections Corp.' of America's (CXW) efforts to convert, probably because of Bill Ackman's involvement in CXW, so that may be why it appears slightly cheaper. CXW is up over 17% versus only 2% for the S&P 500 since I added it in CAPS on news of its potential REIT-conversion back in April. I'm adding as many REIT-conversions as possible in CAPS to track their performance.The GEO Group Provides an Update on a Potential REIT Conversionhttp://www.bloomberg.com/article/2012-08-08/aZuwvTAipDSo.htmlDeej