Target Hospitality (TH) announced it has entered into a five-year lease and services agreement with CoreCivic (CXW) to resume operations

Target Hospitality has entered a five-year lease agreement with CoreCivic to reactivate its Dilley, Texas facility. This agreement revives the South Texas Family Residential Center, which Target previously managed.

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.

Shares of Target Hospitality Corp (NASDAQ: TH) surged 17% today following news that CoreCivic Inc. (NYSE: CXW) will resume operations at the South Texas Family Residential Center in Dilley, Texas, under a new agreement with U.