Bank of New York Mellon Corp boosted its stake in Corenergy Infrastructure Trust Inc (NYSE:CORR) by 4.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 126,358 shares of the asset manager’s stock after purchasing an additional 4,829 shares during the quarter. Bank of New York Mellon Corp owned about 1.06% of Corenergy Infrastructure Trust worth $4,748,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in CORR. LSV Asset Management lifted its stake in Corenergy Infrastructure Trust by 4.4% in the 3rd quarter. LSV Asset Management now owns 685,010 shares of the asset manager’s stock worth $25,742,000 after purchasing an additional 28,661 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Corenergy Infrastructure Trust by 39.8% during the 3rd quarter. Alliancebernstein L.P. now owns 72,960 shares of the asset manager’s stock valued at $2,742,000 after buying an additional 20,770 shares in the last quarter. Gables Capital Management Inc. purchased a new stake in shares of Corenergy Infrastructure Trust during the 3rd quarter valued at about $325,000. Private Advisor Group LLC purchased a new stake in shares of Corenergy Infrastructure Trust during the 3rd quarter valued at about $253,000. Finally, First Trust Advisors LP raised its position in shares of Corenergy Infrastructure Trust by 34.1% during the 3rd quarter. First Trust Advisors LP now owns 18,127 shares of the asset manager’s stock valued at $681,000 after buying an additional 4,614 shares in the last quarter. Institutional investors and hedge funds own 64.04% of the company’s stock.
Shares of NYSE CORR opened at $35.61 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.75 and a current ratio of 4.75. The stock has a market cap of $447.47 million, a PE ratio of 9.35, a price-to-earnings-growth ratio of 1.87 and a beta of 1.58. Corenergy Infrastructure Trust Inc has a 12-month low of $32.52 and a 12-month high of $39.46.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Stockholders of record on Thursday, February 14th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 8.42%. The ex-dividend date is Wednesday, February 13th. Corenergy Infrastructure Trust’s dividend payout ratio is 78.74%.
CORR has been the topic of several recent research reports. DA Davidson decreased their target price on shares of Corenergy Infrastructure Trust from $40.00 to $3.71 and set an “average” rating on the stock in a research report on Thursday, December 27th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Corenergy Infrastructure Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, January 23rd.
In other Corenergy Infrastructure Trust news, CEO David J. Schulte bought 750 shares of the firm’s stock in a transaction dated Friday, January 4th. The shares were purchased at an average cost of $33.64 per share, for a total transaction of $25,230.00. Following the transaction, the chief executive officer now owns 23,759 shares of the company’s stock, valued at $799,252.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeffrey E. Fulmer bought 800 shares of the firm’s stock in a transaction dated Thursday, January 10th. The shares were acquired at an average price of $34.69 per share, for a total transaction of $27,752.00. Following the completion of the transaction, the insider now directly owns 4,865 shares in the company, valued at approximately $168,766.85. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by corporate insiders.
About Corenergy Infrastructure Trust
CorEnergy Infrastructure Trust, Inc (NYSE: CORR, CORRPrA), is a real estate investment trust (REIT) that owns essential energy assets, such as pipelines, storage terminals, and transmission and distribution assets. We receive long-term contracted revenue from operators of our assets, primarily under triple-net participating leases.
Further Reading: Quiet Period Expirations
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