RBC Capital Markets Downgrades CorEnergy Infrastructure Trust Inc. (CORR) 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 research report issued to clients and investors on Monday, The Fly reports. They presently have a $23.00 price target on the stock, down from their previous price target of $30.00. RBC Capital Markets’ price target suggests a potential downside of 20.50% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other research analysts also recently issued reports on CORR. TheStreet upgraded 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. Stifel Nicolaus downgraded shares of CorEnergy Infrastructure Trust from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. Royal Bank Of Canada upped their price objective on shares of CorEnergy Infrastructure Trust from $23.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Friday, August 12th. Finally, DA Davidson started coverage on shares of CorEnergy Infrastructure Trust in a research report on Thursday, September 22nd. They issued a “buy” rating and a $36.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. CorEnergy Infrastructure Trust currently has an average rating of “Hold” and a consensus target price of $29.40.
CorEnergy Infrastructure Trust (NYSE:CORR) opened at 28.93 on Monday. The company has a 50 day moving average of $29.20 and a 200-day moving average of $26.42. CorEnergy Infrastructure Trust has a one year low of $10.90 and a one year high of $32.28.
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CorEnergy Infrastructure Trust (NYSE:CORR) last posted its earnings results on Tuesday, August 9th. The company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by $0.04. The business had revenue of $22.06 million for the quarter, compared to analyst estimates 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 predict that CorEnergy Infrastructure Trust will post $0.31 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Advisors LLC boosted its stake 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. boosted its stake in shares of CorEnergy Infrastructure Trust by 21.6% in the second quarter. American International Group Inc. now owns 6,883 shares of the company’s stock valued at $199,000 after buying an additional 1,223 shares in the last quarter. MSI Financial Services Inc acquired a new stake in shares of CorEnergy Infrastructure Trust during the third quarter valued at about $253,000. Metropolitan Life Insurance Co. NY acquired a new stake in shares of CorEnergy Infrastructure Trust during the second quarter valued at about $256,000. Finally, Bellwether Investment Group LLC acquired a new stake in shares of CorEnergy Infrastructure Trust during the second quarter valued at about $310,000. 58.57% of the stock is owned by institutional investors and hedge funds.
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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