Equities analysts expect that Corenergy Infrastructure Trust Inc (NYSE:CORR) will post $21.54 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Corenergy Infrastructure Trust’s earnings, with the lowest sales estimate coming in at $20.17 million and the highest estimate coming in at $22.91 million. Corenergy Infrastructure Trust posted sales of $22.82 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 5.6%. The company is scheduled to announce its next quarterly earnings report on Wednesday, March 7th.
According to Zacks, analysts expect that Corenergy Infrastructure Trust will report full-year sales of $21.54 million for the current year, with estimates ranging from $82.09 million to $89.26 million. For the next year, analysts anticipate that the firm will post sales of $87.29 million per share, with estimates ranging from $80.97 million to $92.91 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Corenergy Infrastructure Trust.
Several analysts have commented on CORR shares. BidaskClub lowered Corenergy Infrastructure Trust from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. ValuEngine lowered Corenergy Infrastructure Trust from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 15th. Finally, Zacks Investment Research lowered Corenergy Infrastructure Trust from a “hold” rating to a “sell” rating in a report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $37.25.
Shares of Corenergy Infrastructure Trust (CORR) opened at $36.31 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.33 and a quick ratio of 5.33. Corenergy Infrastructure Trust has a 1-year low of $31.45 and a 1-year high of $39.42. The company has a market capitalization of $432.42, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 2.87 and a beta of 2.01.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be given a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $3.00 annualized dividend and a dividend yield of 8.26%. Corenergy Infrastructure Trust’s dividend payout ratio (DPR) is presently 130.43%.
In other news, CEO David J. Schulte bought 690 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were acquired at an average price of $37.27 per share, for a total transaction of $25,716.30. Following the completion of the transaction, the chief executive officer now directly owns 21,610 shares in the company, valued at approximately $805,404.70. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders bought 1,565 shares of company stock worth $58,117. 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 CORR. Voya Investment Management LLC purchased a new position in shares of Corenergy Infrastructure Trust in the second quarter valued at approximately $221,000. MetLife Investment Advisors LLC purchased a new position in shares of Corenergy Infrastructure Trust in the fourth quarter valued at approximately $228,000. First Trust Advisors LP purchased a new position in shares of Corenergy Infrastructure Trust in the third quarter valued at approximately $332,000. The Manufacturers Life Insurance Company lifted its position in shares of Corenergy Infrastructure Trust by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 9,912 shares of the asset manager’s stock valued at $333,000 after acquiring an additional 524 shares in the last quarter. Finally, Nationwide Fund Advisors lifted its position in shares of Corenergy Infrastructure Trust by 62.6% in the second quarter. Nationwide Fund Advisors now owns 11,692 shares of the asset manager’s stock valued at $393,000 after acquiring an additional 4,500 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Corenergy Infrastructure Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corenergy Infrastructure Trust and related companies with MarketBeat.com's FREE daily email newsletter.