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CoreCivic signs deal with US Marshals Service at Miss. correctional facility

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CoreCivic signs deal with US Marshals Service at Miss. correctional facility

Prison real estate investment trust CoreCivic Inc. signed an agreement with the U.S. Marshals Service to house up to 1,350 prisoners at its 2,672-bed Tallahatchie County Correctional Facility in Tutwiler, Miss.

The new management contract started June 14 and has an initial term expiring June 30, 2020, with unlimited two-year extension options. The Marshals Service may house additional prisoners at the facility, depending on availability.

CoreCivic expects the new contract to contribute 2 cents to 4 cents to its funds from operations per share in 2018, with a full-year impact in 2019 of 6 cents to 10 cents per share.