Wedbush Securities Inc. Has $291,000 Stake in CorEnergy Infrastructure Trust, Inc. (CORR)
Wedbush Securities Inc. cut its holdings in shares of CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) by 15.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,227 shares of the asset manager’s stock after selling 1,515 shares during the period. Wedbush Securities Inc. owned approximately 0.07% of CorEnergy Infrastructure Trust worth $291,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Benchmark Capital Advisors acquired a new position in shares of CorEnergy Infrastructure Trust during the third quarter worth approximately $621,000. First Trust Advisors LP acquired a new position in shares of CorEnergy Infrastructure Trust during the third quarter worth approximately $332,000. Phocas Financial Corp. boosted its position in shares of CorEnergy Infrastructure Trust by 4.5% during the second quarter. Phocas Financial Corp. now owns 15,331 shares of the asset manager’s stock worth $515,000 after buying an additional 659 shares during the period. Cetera Investment Advisers acquired a new stake in CorEnergy Infrastructure Trust in the second quarter worth approximately $280,000. Finally, Sterling Capital Management LLC lifted its position in CorEnergy Infrastructure Trust by 8.6% in the second quarter. Sterling Capital Management LLC now owns 27,267 shares of the asset manager’s stock worth $916,000 after purchasing an additional 2,164 shares during the period. Institutional investors and hedge funds own 64.26% of the company’s stock.
CORR has been the subject of a number of research analyst reports. ValuEngine downgraded CorEnergy Infrastructure Trust from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub upgraded CorEnergy Infrastructure Trust from a “hold” rating to a “buy” rating in a research report on Saturday, September 30th. Finally, Zacks Investment Research upgraded CorEnergy Infrastructure Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $35.33.
Shares of CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) opened at $36.15 on Tuesday. The firm has a market capitalization of $430.52, a P/E ratio of 9.38, a price-to-earnings-growth ratio of 2.81 and a beta of 2.16. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.33 and a quick ratio of 5.33. CorEnergy Infrastructure Trust, Inc. has a 52-week low of $26.18 and a 52-week high of $37.25.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Wednesday, November 15th will be given a $0.75 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $3.00 dividend on an annualized basis and a yield of 8.30%. CorEnergy Infrastructure Trust’s dividend payout ratio (DPR) is 130.43%.
About CorEnergy Infrastructure Trust
CorEnergy Infrastructure Trust, Inc (CorEnergy) 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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