StocksMedium•5 October 2026•
1 min read
GEO Group Sells Detention Assets for $950M and Increases Buyback Program
Key Facts
1The GEO Group completed the sale of three facilities in Adelanto, California to the U.S. Department of Homeland Security for $950 million.
2The company increased its share repurchase authorization to $1.25 billion following the transaction.
The GEO Group completed the sale of three facilities in Adelanto, California to the U.S. Department of Homeland Security for $950 million. Business Wire reported that the company increased its share repurchase authorization to $1.25 billion immediately following the transaction.
GEO closed at $31.36 on October 2, 2026, with the stock reaching a session high of $31.92 and a low of $30.91. The divestment of these California-based assets provides the company with significant liquidity to expand its capital return program to shareholders.