CorEnergy Infrastructure Trust Inc. (CORR) Downgraded by RBC Capital Markets to “Underperform”
CorEnergy Infrastructure Trust Inc. (NYSE:CORR) was downgraded by equities researchers at RBC Capital Markets from a “sector perform” rating to an “underperform” rating in a note issued to investors on Monday, The Fly reports. They presently have a $23.00 target price on the stock, down from their previous target price of $30.00. RBC Capital Markets’ price objective points to a potential downside of 20.50% from the company’s current price. The analysts noted that the move was a valuation call.
Several other research firms also recently issued reports on CORR. Zacks Investment Research downgraded CorEnergy Infrastructure Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Stifel Nicolaus downgraded CorEnergy Infrastructure Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. Royal Bank Of Canada boosted their price target on CorEnergy Infrastructure Trust from $23.00 to $30.00 and gave the company a “sector perform” rating in a research note on Friday, August 12th. TheStreet upgraded CorEnergy Infrastructure Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, June 29th. Finally, DA Davidson began coverage on CorEnergy Infrastructure Trust in a research note on Thursday, September 22nd. They issued a “buy” rating and a $36.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $29.40.
Shares of CorEnergy Infrastructure Trust (NYSE:CORR) traded down 10.92% during mid-day trading on Monday, hitting $25.77. The stock had a trading volume of 176,718 shares. CorEnergy Infrastructure Trust has a 1-year low of $10.90 and a 1-year high of $32.28. The stock’s 50-day moving average price is $29.20 and its 200 day moving average price is $26.42.
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CorEnergy Infrastructure Trust (NYSE:CORR) last released its quarterly earnings results on Tuesday, August 9th. The company reported $1.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The firm earned $22.06 million during the quarter, compared to the consensus estimate of $21.73 million. CorEnergy Infrastructure Trust had a net margin of 18.43% and a return on equity of 4.25%. Analysts forecast that CorEnergy Infrastructure Trust will post $0.31 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of CORR. Prudential Financial Inc. boosted its position in CorEnergy Infrastructure Trust by 59.9% in the second quarter. Prudential Financial Inc. now owns 98,235 shares of the company’s stock worth $2,834,000 after buying an additional 36,800 shares during the period. Victory Capital Management Inc. boosted its position in CorEnergy Infrastructure Trust by 31.5% in the second quarter. Victory Capital Management Inc. now owns 25,453 shares of the company’s stock worth $734,000 after buying an additional 6,100 shares during the period. JPMorgan Chase & Co. acquired a new position in CorEnergy Infrastructure Trust during the second quarter worth approximately $5,139,000. LSV Asset Management boosted its position in CorEnergy Infrastructure Trust by 25.7% in the second quarter. LSV Asset Management now owns 420,991 shares of the company’s stock worth $12,145,000 after buying an additional 86,187 shares during the period. Finally, Opus Capital Group LLC acquired a new position in CorEnergy Infrastructure Trust during the second quarter worth approximately $4,981,000. 58.57% of the stock is owned by 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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