Corenergy Infrastructure Trust Inc (NYSE:CORR)’s share price shot up 5.1% during mid-day trading on Wednesday . The company traded as high as $43.64 and last traded at $45.66, 20,312 shares traded hands during mid-day trading. A decline of 76% from the average session volume of 83,660 shares. The stock had previously closed at $43.45.
Separately, Zacks Investment Research lowered Corenergy Infrastructure Trust from a “hold” rating to a “sell” rating in a research note on Monday.
The business has a 50 day moving average price of $40.48. The company has a quick ratio of 8.57, a current ratio of 8.57 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $537.31 million, a PE ratio of 11.96, a price-to-earnings-growth ratio of 2.46 and a beta of 1.42.
Corenergy Infrastructure Trust (NYSE:CORR) last announced its earnings results on Wednesday, July 31st. The asset manager reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.38). Corenergy Infrastructure Trust had a return on equity of 12.57% and a net margin of 47.22%. The company had revenue of $21.53 million for the quarter, compared to analyst estimates of $21.16 million.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.75 per share. The ex-dividend date is Thursday, August 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 6.78%. Corenergy Infrastructure Trust’s dividend payout ratio is 81.08%.
Several hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Corenergy Infrastructure Trust in the second quarter valued at about $29,000. Marshall Wace North America L.P. purchased a new position in Corenergy Infrastructure Trust in the first quarter valued at about $74,000. BNP Paribas Arbitrage SA grew its stake in Corenergy Infrastructure Trust by 233.1% in the first quarter. BNP Paribas Arbitrage SA now owns 2,195 shares of the asset manager’s stock valued at $81,000 after purchasing an additional 1,536 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Corenergy Infrastructure Trust in the second quarter valued at about $95,000. Finally, AdvisorNet Financial Inc purchased a new position in Corenergy Infrastructure Trust in the second quarter valued at about $107,000. Institutional investors and hedge funds own 61.29% of the company’s stock.
About Corenergy Infrastructure Trust (NYSE:CORR)
CorEnergy Infrastructure Trust, Inc (NYSE: CORR, CORRPrA), is a real estate investment trust (REIT) that owns critical 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.
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