CorEnergy Infrastructure Trust Inc. (CORR) Raised to Sector Perform at Royal Bank Of Canada
Royal Bank Of Canada upgraded shares of CorEnergy Infrastructure Trust Inc. (NYSE:CORR) from an underperform rating to a sector perform rating in a research note released on Monday. The firm currently has $30.00 price target on the stock, up from their previous price target of $23.00.
Several other equities research analysts also recently commented on the company. Zacks Investment Research downgraded CorEnergy Infrastructure Trust from a hold rating to a strong sell rating in a report on Wednesday, November 9th. RBC Capital Markets downgraded CorEnergy Infrastructure Trust from a sector perform rating to an underperform rating and dropped their target price for the stock from $30.00 to $23.00 in a report on Monday, October 17th. They noted that the move was a valuation call. DA Davidson assumed coverage on CorEnergy Infrastructure Trust in a report on Thursday, September 22nd. They issued a buy rating and a $36.00 target price on the stock. Finally, Stifel Nicolaus downgraded CorEnergy Infrastructure Trust from a buy rating to a hold rating in a report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $32.60.
CorEnergy Infrastructure Trust (NYSE:CORR) opened at 31.95 on Monday. The stock’s 50 day moving average price is $27.98 and its 200 day moving average price is $27.62. The company has a market cap of $379.44 million, a P/E ratio of 18.09 and a beta of 1.51. CorEnergy Infrastructure Trust has a 1-year low of $10.90 and a 1-year high of $32.28.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Tuesday, November 15th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $3.00 annualized dividend and a yield of 9.39%. CorEnergy Infrastructure Trust’s payout ratio is currently 170.45%.
A number of hedge funds have recently made changes to their positions in CORR. BlackRock Advisors LLC boosted its stake in shares of CorEnergy Infrastructure Trust by 53.5% in the second quarter. BlackRock Advisors LLC now owns 5,552 shares of the company’s stock valued at $160,000 after buying an additional 1,934 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in shares of CorEnergy Infrastructure Trust by 28.4% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 5,880 shares of the company’s stock valued at $172,000 after buying an additional 1,300 shares during the period. American International Group Inc. boosted its stake in shares of CorEnergy Infrastructure Trust by 21.6% in the second quarter. American International Group Inc. now owns 6,883 shares of the company’s stock valued at $199,000 after buying an additional 1,223 shares during the period. Suntrust Banks Inc. bought a new stake in shares of CorEnergy Infrastructure Trust during the third quarter valued at about $227,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of CorEnergy Infrastructure Trust during the third quarter valued at about $247,000. 58.84% of the stock is currently owned by institutional investors and hedge funds.
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.
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