CorEnergy Infrastructure Trust, Inc. Declares Quarterly Dividend of $0.75 (CORR)
CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) announced a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Shareholders of record on Wednesday, November 15th will be paid a dividend of 0.75 per share by the asset manager on Thursday, November 30th. This represents a $3.00 dividend on an annualized basis and a yield of 8.52%. The ex-dividend date is Tuesday, November 14th.
CorEnergy Infrastructure Trust has increased its dividend by an average of 17.0% annually over the last three years. CorEnergy Infrastructure Trust has a dividend payout ratio of 69.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CorEnergy Infrastructure Trust to earn $2.12 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 141.5%.
Shares of CorEnergy Infrastructure Trust (NYSE:CORR) traded down 0.56% during midday trading on Thursday, reaching $35.23. 73,017 shares of the company’s stock were exchanged. The firm has a market cap of $419.31 million, a PE ratio of 14.56 and a beta of 2.10. The stock’s 50-day moving average is $34.62 and its 200 day moving average is $34.77. CorEnergy Infrastructure Trust has a one year low of $25.10 and a one year high of $37.25.
A number of research firms have issued reports on CORR. BidaskClub cut shares of CorEnergy Infrastructure Trust from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research raised shares of CorEnergy Infrastructure Trust from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, ValuEngine raised shares of CorEnergy Infrastructure Trust from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company. CorEnergy Infrastructure Trust presently has an average rating of “Hold” and a consensus price target of $35.33.
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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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