DA Davidson Initiates Coverage on CorEnergy Infrastructure Trust Inc. (CORR)
Stock analysts at DA Davidson assumed coverage on shares of CorEnergy Infrastructure Trust Inc. (NYSE:CORR) in a research note issued to investors on Thursday. The brokerage set a “buy” rating on the stock.
Several other analysts also recently commented on CORR. Stifel Nicolaus raised shares of CorEnergy Infrastructure Trust from a “hold” rating to a “buy” rating and raised their price objective for the stock from $24.05 to $32.00 in a research report on Wednesday, June 1st. TheStreet raised shares of CorEnergy Infrastructure Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, June 29th. Zacks Investment Research downgraded shares of CorEnergy Infrastructure Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Royal Bank Of Canada lifted their price target on shares of CorEnergy Infrastructure Trust from $23.00 to $30.00 and gave the company a “sector perform” rating in a research report on Friday, August 12th. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $30.00 price target (up previously from $23.00) on shares of CorEnergy Infrastructure Trust in a research report on Saturday, August 13th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. CorEnergy Infrastructure Trust currently has an average rating of “Hold” and an average price target of $31.25.
CorEnergy Infrastructure Trust (NYSE:CORR) opened at 28.30 on Thursday. CorEnergy Infrastructure Trust has a 12 month low of $10.90 and a 12 month high of $30.98. The stock has a 50 day moving average of $29.23 and a 200 day moving average of $24.94.
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CorEnergy Infrastructure Trust (NYSE:CORR) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.08 by $0.04. The company had revenue of $22.06 million for the quarter, compared to analyst estimates of $21.73 million. CorEnergy Infrastructure Trust had a return on equity of 4.25% and a net margin of 18.43%. Analysts anticipate that CorEnergy Infrastructure Trust will post $0.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 10.60%. The ex-dividend date of this dividend was Monday, August 15th. CorEnergy Infrastructure Trust’s dividend payout ratio is 291.26%.
Institutional investors have recently bought and sold shares of the company. BlackRock Advisors LLC increased its position in CorEnergy Infrastructure Trust by 53.5% in the second quarter. BlackRock Advisors LLC now owns 5,552 shares of the company’s stock worth $160,000 after buying an additional 1,934 shares in the last quarter. American International Group Inc. increased its position in CorEnergy Infrastructure Trust by 21.6% in the second quarter. American International Group Inc. now owns 6,883 shares of the company’s stock worth $199,000 after buying an additional 1,223 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new position in CorEnergy Infrastructure Trust during the second quarter worth about $256,000. Bellwether Investment Group LLC purchased a new position in CorEnergy Infrastructure Trust during the second quarter worth about $310,000. Finally, Independent Order of Foresters increased its position in CorEnergy Infrastructure Trust by 3.1% in the second quarter. Independent Order of Foresters now owns 12,775 shares of the company’s stock worth $368,000 after buying an additional 386 shares in the last quarter. 58.60% of the stock is currently owned by hedge funds and other 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.
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