CorEnergy Infrastructure Trust Inc. (CORR) Stock Rating Upgraded by Stifel Nicolaus
CorEnergy Infrastructure Trust Inc. (NYSE:CORR) was upgraded by Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $34.00 price objective on the stock, up from their prior price objective of $27.00. Stifel Nicolaus’ price target points to a potential upside of 6.42% from the stock’s previous close.
Other analysts also recently issued research reports about the stock. Royal Bank Of Canada boosted their price objective on shares of CorEnergy Infrastructure Trust from $23.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, August 12th. Zacks Investment Research cut shares of CorEnergy Infrastructure Trust from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 9th. RBC Capital Markets raised shares of CorEnergy Infrastructure Trust from an “underperform” rating to a “sector perform” rating and boosted their price objective for the company from $23.00 to $30.00 in a research note on Monday. Finally, DA Davidson started coverage on shares of CorEnergy Infrastructure Trust in a research report on Thursday, September 22nd. They set a “buy” rating and a $36.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.60.
Shares of CorEnergy Infrastructure Trust (NYSE:CORR) opened at 31.95 on Tuesday. The firm has a market capitalization of $379.44 million, a PE ratio of 18.09 and a beta of 1.51. The stock has a 50 day moving average price of $27.98 and a 200 day moving average price of $27.62. CorEnergy Infrastructure Trust has a 12-month low of $10.90 and a 12-month high of $32.28.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Tuesday, November 15th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 9.39%. The ex-dividend date is Thursday, November 10th. CorEnergy Infrastructure Trust’s dividend payout ratio is 170.45%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CORR. Morgan Stanley boosted its stake in CorEnergy Infrastructure Trust by 17.3% in the third quarter. Morgan Stanley now owns 589,169 shares of the company’s stock worth $17,281,000 after buying an additional 86,891 shares during the last quarter. Punch & Associates Investment Management Inc. raised its stake in CorEnergy Infrastructure Trust by 4.9% in the second quarter. Punch & Associates Investment Management Inc. now owns 491,942 shares of the company’s stock worth $14,193,000 after buying an additional 23,111 shares during the last quarter. LSV Asset Management raised its stake in CorEnergy Infrastructure Trust by 4.1% in the third quarter. LSV Asset Management now owns 438,084 shares of the company’s stock worth $12,849,000 after buying an additional 17,093 shares during the last quarter. Vanguard Group Inc. raised its stake in CorEnergy Infrastructure Trust by 3.9% in the second quarter. Vanguard Group Inc. now owns 422,076 shares of the company’s stock worth $12,177,000 after buying an additional 15,969 shares during the last quarter. Finally, Energy Income Partners LLC raised its stake in CorEnergy Infrastructure Trust by 15.4% in the first quarter. Energy Income Partners LLC now owns 393,724 shares of the company’s stock worth $7,917,000 after buying an additional 52,673 shares during the last quarter. Institutional investors and hedge funds own 58.84% of the company’s stock.
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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