CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) Given Average Recommendation of “Hold” by Brokerages

CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) has been given an average rating of “Hold” by the seven analysts that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $35.50.

Several research analysts have recently weighed in on CORR shares. Bank of America Corporation downgraded shares of CorEnergy Infrastructure Trust from a “neutral” rating to an “underperform” rating and set a $35.00 target price on the stock. in a research report on Monday, June 26th. Zacks Investment Research downgraded shares of CorEnergy Infrastructure Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. ValuEngine raised shares of CorEnergy Infrastructure Trust from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $37.00 target price (up from $30.00) on shares of CorEnergy Infrastructure Trust in a research report on Wednesday, May 17th. Finally, BidaskClub raised shares of CorEnergy Infrastructure Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th.

In related news, CEO David J. Schulte purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The stock was acquired at an average cost of $32.89 per share, for a total transaction of $32,890.00. Following the completion of the acquisition, the chief executive officer now owns 21,010 shares in the company, valued at approximately $691,018.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.99% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. AXA boosted its stake in CorEnergy Infrastructure Trust by 84.4% in the first quarter. AXA now owns 43,050 shares of the asset manager’s stock valued at $1,454,000 after buying an additional 19,700 shares in the last quarter. American International Group Inc. boosted its stake in CorEnergy Infrastructure Trust by 7.1% in the first quarter. American International Group Inc. now owns 7,361 shares of the asset manager’s stock valued at $249,000 after buying an additional 487 shares in the last quarter. SG Americas Securities LLC boosted its stake in CorEnergy Infrastructure Trust by 60.6% in the first quarter. SG Americas Securities LLC now owns 8,241 shares of the asset manager’s stock valued at $278,000 after buying an additional 3,111 shares in the last quarter. Prudential Financial Inc. boosted its stake in CorEnergy Infrastructure Trust by 30.0% in the first quarter. Prudential Financial Inc. now owns 197,533 shares of the asset manager’s stock valued at $6,673,000 after buying an additional 45,620 shares in the last quarter. Finally, Martingale Asset Management L P boosted its stake in CorEnergy Infrastructure Trust by 131.3% in the first quarter. Martingale Asset Management L P now owns 103,425 shares of the asset manager’s stock valued at $3,494,000 after buying an additional 58,705 shares in the last quarter. Institutional investors and hedge funds own 68.73% of the company’s stock.

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CorEnergy Infrastructure Trust (NYSE CORR) opened at 34.81 on Tuesday. The stock has a market cap of $414.31 million, a P/E ratio of 14.39 and a beta of 2.06. CorEnergy Infrastructure Trust has a 52 week low of $23.21 and a 52 week high of $37.25. The company’s 50 day moving average is $34.72 and its 200 day moving average is $34.90.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 8.62%. The ex-dividend date of this dividend is Tuesday, August 15th. CorEnergy Infrastructure Trust’s dividend payout ratio is currently 124.48%.

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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