Target Hospitality Shares Climb on CoreCivic Lease Deal for South Texas Facility

Dow Jones03-06

By Sabela Ojea

Shares of Target Hospitality gained after CoreCivic entered into a new lease agreement and would resume operations at a South Texas facility owned by Target.

The stock was up 15%, to $6.36, in post-market Wednesday trading. Through the close, shares have fallen 36% over the past 12 months.

CoreCivic and Target entered into the agreement after CoreCivic reached an amended intergovernmental services agreement with the City of Dilley, Texas, and the Immigration and Customs Enforcement to resume operations at the South Texas Family Residential Center.

The amended deal expires in March 2030 and may be further extended through bilateral modification. CoreCivic's and Target's lease deal will be in place during that same period of time.

Write to Sabela Ojea at sabela.ojea@wsj.com

(END) Dow Jones Newswires

March 05, 2025 19:12 ET (00:12 GMT)

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