The GEO Group, Inc.
(NYSE: GEO) ("GEO") today announced that it will be added as a constituent of the MSCI US REIT Index (RMZ) as of the close of February 28, 2013. The MSCI US REIT Index is a free float-adjusted market capitalization weighted index that is comprised of equity REITs that are included in the MSCI US Investable Market 2500 Index, with the exception of specialty equity REITs that do not generate a majority of their revenue and income from real estate rental and leasing operations. The MSCI US REIT Index represents approximately 85% of the US REIT universe.
George C. Zoley, GEO's Chairman, CEO and Founder, said, “We are very pleased with the announced addition of our company as a constituent of the MSCI US REIT Index as of the close of February 28, 2013. Inclusion in the MSCI US REIT Index further validates the decisive actions taken by our Board and our management team to position GEO to become the first fully integrated equity REIT in our industry.”
About The GEO Group, Inc.
The GEO Group, Inc. (NYSE:GEO) is the first fully integrated equity real estate investment trust specializing in the design, financing, development, and operation of correctional, detention, and community reentry facilities around the globe. GEO is the world's leading provider of diversified correctional, detention, and community reentry services to government agencies worldwide with operations in the United States, Australia, South Africa, and the United Kingdom. GEO's worldwide operations include the ownership and/or management of 101 facilities totaling 73,000 beds with a growing workforce of approximately 18,000 professionals.
This press release contains forward-looking statements regarding future events and future performance of GEO that involve risks and uncertainties that could materially affect actual results. Factors that could cause actual results to vary from current expectations and forward-looking statements contained in this press release include, but are not limited to: (1) GEO's ability to meet its financial guidance given the various risks to which its business is exposed; (2) GEO's ability to declare future cash dividends; (3) GEO's ability to successfully pursue further growth and continue to create shareholder value; (4) risks associated with GEO's ability to control operating costs associated with contract start-ups; (5) GEO's ability to timely open facilities as planned, profitably manage such facilities and successfully integrate such facilities into GEO's operations without substantial costs; (6) GEO's ability to win management contracts for which it has submitted proposals and to retain existing management contracts; (7) GEO's ability to obtain future financing on acceptable terms; (8) GEO's ability to sustain company-wide occupancy rates at its facilities; (9) GEO's ability to access the capital markets in the future on satisfactory terms or at all; and (10) other factors contained in GEO's Securities and Exchange Commission filings, including the Form 10-K, 10-Q and 8-K reports.