CorEnergy Infrastructure Trust Inc. (CORR) Downgraded by Royal Bank Of Canada to “Underperform”
CorEnergy Infrastructure Trust Inc. (NYSE:CORR) was downgraded by equities research analysts at Royal Bank Of Canada from a “sector perform” rating to an “underperform” rating in a research report issued to clients and investors on Monday. They currently have a $23.00 price target on the stock, down from their prior price target of $30.00. Royal Bank Of Canada’s target price would suggest a potential downside of 20.50% from the stock’s previous close.
Several other equities analysts have also recently commented on the stock. DA Davidson initiated coverage on shares of CorEnergy Infrastructure Trust in a research note on Thursday, September 22nd. They set a “buy” rating and a $36.00 price objective for the company. 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 note on Saturday, August 13th. TheStreet raised shares of CorEnergy Infrastructure Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, June 29th. Zacks Investment Research raised shares of CorEnergy Infrastructure Trust from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Monday, August 15th. Finally, Stifel Nicolaus cut shares of CorEnergy Infrastructure Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $30.80.
CorEnergy Infrastructure Trust (NYSE:CORR) opened at 28.93 on Monday. CorEnergy Infrastructure Trust has a 52 week low of $10.90 and a 52 week high of $32.28. The company’s 50-day moving average is $29.20 and its 200-day moving average is $26.42.
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CorEnergy Infrastructure Trust (NYSE:CORR) last issued 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 firm had revenue of $22.06 million for the quarter, compared to analysts’ expectations of $21.73 million. CorEnergy Infrastructure Trust had a net margin of 18.43% and a return on equity of 4.25%. On average, analysts anticipate that CorEnergy Infrastructure Trust will post $0.31 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. Prudential Financial Inc. boosted its stake in shares of 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. raised its stake 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 in the last quarter. JPMorgan Chase & Co. purchased a new stake in CorEnergy Infrastructure Trust during the second quarter worth approximately $5,139,000. LSV Asset Management raised its stake 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 in the last quarter. Finally, Opus Capital Group LLC purchased a new stake in CorEnergy Infrastructure Trust during the second quarter worth approximately $4,981,000. 58.57% of the stock is owned by institutional investors.
About CorEnergy Infrastructure Trust
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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