Zacks Investment Research lowered shares of Corenergy Infrastructure Trust (NYSE:CORR) from a buy rating to a hold rating in a research report released on Friday.

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. “

CORR traded down $0.06 during trading on Friday, reaching $35.64. The company’s stock had a trading volume of 125,120 shares, compared to its average volume of 64,149. Corenergy Infrastructure Trust has a 52-week low of $34.22 and a 52-week high of $39.46. The firm has a market capitalization of $426.23 million, a PE ratio of 9.35, a P/E/G ratio of 1.90 and a beta of 1.72. The company has a current ratio of 4.75, a quick ratio of 4.75 and a debt-to-equity ratio of 0.47.

Corenergy Infrastructure Trust (NYSE:CORR) last posted its quarterly earnings results on Wednesday, October 31st. The asset manager reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.53). Corenergy Infrastructure Trust had a net margin of 33.78% and a return on equity of 9.22%. The company had revenue of $22.64 million for the quarter, compared to analyst estimates of $22.20 million. On average, sell-side analysts predict that Corenergy Infrastructure Trust will post 3.74 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 8.42%. Corenergy Infrastructure Trust’s payout ratio is 78.74%.

Several hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its position in shares of Corenergy Infrastructure Trust by 13.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 16,511 shares of the asset manager’s stock valued at $620,000 after acquiring an additional 1,911 shares during the period. First Trust Advisors LP lifted its position in shares of Corenergy Infrastructure Trust by 18.5% during the 2nd quarter. First Trust Advisors LP now owns 13,513 shares of the asset manager’s stock valued at $508,000 after acquiring an additional 2,111 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Corenergy Infrastructure Trust by 9.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 25,277 shares of the asset manager’s stock valued at $951,000 after acquiring an additional 2,200 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Corenergy Infrastructure Trust by 38.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 9,840 shares of the asset manager’s stock valued at $370,000 after acquiring an additional 2,751 shares during the period. Finally, D.A. Davidson & CO. lifted its position in shares of Corenergy Infrastructure Trust by 3.3% during the 2nd quarter. D.A. Davidson & CO. now owns 97,153 shares of the asset manager’s stock valued at $3,653,000 after acquiring an additional 3,076 shares during the period. Institutional investors own 63.54% of the company’s stock.

Corenergy Infrastructure Trust Company Profile

CorEnergy Infrastructure Trust, Inc (NYSE: CORR, CORRPrA), is a real estate investment trust (REIT) that owns essential energy assets, such as pipelines, storage terminals, and transmission and distribution assets. We receive long-term contracted revenue from operators of our assets, primarily under triple-net participating leases.

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