DA Davidson Weighs in on Corenergy Infrastructure Trust Inc’s FY2018 Earnings (CORR)

Corenergy Infrastructure Trust Inc (NYSE:CORR) – Research analysts at DA Davidson lowered their FY2018 earnings estimates for shares of Corenergy Infrastructure Trust in a report released on Wednesday, November 7th. DA Davidson analyst B. Oxford now anticipates that the asset manager will post earnings of $3.74 per share for the year, down from their prior estimate of $3.76. DA Davidson also issued estimates for Corenergy Infrastructure Trust’s Q4 2018 earnings at $0.97 EPS.

Corenergy Infrastructure Trust (NYSE:CORR) last released its earnings results on Wednesday, October 31st. The asset manager reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.53). The firm had revenue of $22.64 million during the quarter, compared to analyst estimates of $22.20 million. Corenergy Infrastructure Trust had a return on equity of 9.22% and a net margin of 33.78%.

Separately, Zacks Investment Research upgraded Corenergy Infrastructure Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th.

CORR opened at $35.70 on Friday. The company has a market capitalization of $418.70 million, a price-to-earnings ratio of 9.37, a PEG ratio of 1.86 and a beta of 1.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.75 and a quick ratio of 4.75. Corenergy Infrastructure Trust has a 1-year low of $34.22 and a 1-year high of $39.46.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 8.40%. Corenergy Infrastructure Trust’s dividend payout ratio (DPR) is presently 78.74%.

Large investors have recently made changes to their positions in the company. LSV Asset Management lifted its position in shares of Corenergy Infrastructure Trust by 3.6% during the 2nd quarter. LSV Asset Management now owns 656,349 shares of the asset manager’s stock valued at $24,678,000 after acquiring an additional 22,709 shares during the last quarter. James Investment Research Inc. acquired a new stake in shares of Corenergy Infrastructure Trust during the 2nd quarter valued at $1,475,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Corenergy Infrastructure Trust during the 2nd quarter valued at $263,000. Renaissance Technologies LLC lifted its position in shares of Corenergy Infrastructure Trust by 15.6% during the 2nd quarter. Renaissance Technologies LLC now owns 867,900 shares of the asset manager’s stock valued at $32,633,000 after acquiring an additional 116,971 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Corenergy Infrastructure Trust during the 1st quarter valued at $109,000. Institutional investors own 63.54% of the company’s stock.

Corenergy Infrastructure Trust Company Profile

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.

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Earnings History and Estimates for Corenergy Infrastructure Trust (NYSE:CORR)

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