CorEnergy Infrastructure Trust Inc. (NYSE:CORR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday.

According to Zacks, “CorEnergy Infrastructure Trust, Inc. seeks to invest primarily in the U.S. energy infrastructure sector. It seeks to acquire midstream and downstream U.S. energy infrastructure assets and concurrently enter into long-term triple net leases with energy companies. These assets may include pipelines, storage tanks, transmission lines and gathering systems, among others. CorEnergy Infrastructure Trust, Inc., formerly known as Tortoise Capital Resources Corporation, is based in United States. “

Several other research firms have also issued reports on CORR. Stifel Nicolaus lowered CorEnergy Infrastructure Trust from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. RBC Capital Markets lowered CorEnergy Infrastructure Trust from a “sector perform” rating to an “underperform” rating and dropped their price target for the company from $30.00 to $23.00 in a research report on Monday, October 17th. They noted that the move was a valuation call. Royal Bank Of Canada lowered CorEnergy Infrastructure Trust from a “sector perform” rating to an “underperform” rating and dropped their price target for the company from $30.00 to $23.00 in a research report on Monday, October 17th. Finally, DA Davidson initiated coverage on CorEnergy Infrastructure Trust in a research report on Thursday, September 22nd. They set a “buy” rating and a $36.00 price target on the stock. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $29.40.

Analyst Recommendations for CorEnergy Infrastructure Trust (NYSE:CORR)

Shares of CorEnergy Infrastructure Trust (NYSE:CORR) opened at 27.29 on Wednesday. CorEnergy Infrastructure Trust has a 12 month low of $10.90 and a 12 month high of $32.28. The firm’s 50 day moving average is $27.96 and its 200 day moving average is $27.30.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Tuesday, November 15th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $3.00 annualized dividend and a dividend yield of 10.99%. CorEnergy Infrastructure Trust’s payout ratio is 170.45%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley boosted its position in CorEnergy Infrastructure Trust by 17.3% in the third quarter. Morgan Stanley now owns 589,169 shares of the company’s stock valued at $17,281,000 after buying an additional 86,891 shares during the last quarter. Northern Trust Corp boosted its position in CorEnergy Infrastructure Trust by 3.8% in the third quarter. Northern Trust Corp now owns 136,989 shares of the company’s stock valued at $4,018,000 after buying an additional 4,995 shares during the last quarter. Suntrust Banks Inc. acquired a new position in CorEnergy Infrastructure Trust during the third quarter valued at about $227,000. Emerald Acquisition Ltd. boosted its position in CorEnergy Infrastructure Trust by 5.0% in the third quarter. Emerald Acquisition Ltd. now owns 62,160 shares of the company’s stock valued at $1,823,000 after buying an additional 2,956 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in CorEnergy Infrastructure Trust by 1.2% in the third quarter. California State Teachers Retirement System now owns 25,358 shares of the company’s stock valued at $744,000 after buying an additional 300 shares during the last quarter. 58.73% of the stock is owned by institutional investors.

CorEnergy Infrastructure Trust Company Profile

CorEnergy Infrastructure Trust, Inc is focused on acquiring and financing midstream and downstream real estate assets within the United States energy infrastructure sector and concurrently entering into long-term triple-net participating leases with energy companies. The Company also provides other types of capital, including loans secured by energy infrastructure assets.

5 Day Chart for NYSE:CORR

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