CorEnergy Infrastructure Trust, Inc. (CORR) Receives Consensus Rating of “Hold” from Analysts
Shares of CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) have received an average rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $35.50.
A number of research firms recently issued reports on CORR. Zacks Investment Research lowered CorEnergy Infrastructure Trust from a “hold” rating to a “sell” rating in a report on Tuesday, May 16th. Royal Bank Of Canada reissued a “sector perform” rating and set a $37.00 price target (up previously from $30.00) on shares of CorEnergy Infrastructure Trust in a report on Wednesday, May 17th. Bank of America Corporation lowered CorEnergy Infrastructure Trust from a “neutral” rating to an “underperform” rating and set a $35.00 price target on the stock. in a report on Monday, June 26th. ValuEngine lowered CorEnergy Infrastructure Trust from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. Finally, BidaskClub raised CorEnergy Infrastructure Trust from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th.
Shares of CorEnergy Infrastructure Trust (NYSE CORR) opened at 33.13 on Friday. CorEnergy Infrastructure Trust has a 52 week low of $23.21 and a 52 week high of $37.25. The stock has a 50 day moving average price of $34.05 and a 200-day moving average price of $34.51. The stock has a market cap of $394.31 million, a P/E ratio of 13.70 and a beta of 2.07.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 17th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 9.06%. The ex-dividend date of this dividend was Tuesday, August 15th. CorEnergy Infrastructure Trust’s dividend payout ratio is currently 124.48%.
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In related news, CEO David J. Schulte purchased 1,000 shares of the stock in a transaction that occurred on Monday, June 26th. The shares were purchased at an average price of $32.89 per share, with a total value of $32,890.00. Following the completion of the acquisition, the chief executive officer now directly owns 21,010 shares in the company, valued at approximately $691,018.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.99% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its holdings in CorEnergy Infrastructure Trust by 46.5% in the 1st quarter. Ameriprise Financial Inc. now owns 157,474 shares of the asset manager’s stock valued at $5,320,000 after purchasing an additional 49,994 shares in the last quarter. Eagle Global Advisors LLC boosted its holdings in CorEnergy Infrastructure Trust by 6.5% in the 1st quarter. Eagle Global Advisors LLC now owns 16,590 shares of the asset manager’s stock valued at $560,000 after purchasing an additional 1,010 shares in the last quarter. Tiedemann Wealth Management LLC purchased a new stake in CorEnergy Infrastructure Trust in the 1st quarter valued at approximately $236,000. Oxford Asset Management purchased a new stake in CorEnergy Infrastructure Trust in the 1st quarter valued at approximately $577,000. Finally, Martingale Asset Management L P boosted its holdings in CorEnergy Infrastructure Trust by 131.3% in the 1st quarter. Martingale Asset Management L P now owns 103,425 shares of the asset manager’s stock valued at $3,494,000 after purchasing an additional 58,705 shares in the last quarter. 64.23% of the stock is currently owned by hedge funds and other institutional investors.
CorEnergy Infrastructure Trust Company Profile
CorEnergy Infrastructure Trust, Inc (CorEnergy) 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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