Corenergy Infrastructure Trust (NYSE:CORR) Sees Strong Trading Volume

Corenergy Infrastructure Trust Inc (NYSE:CORR) shares saw an uptick in trading volume on Thursday . 9,423 shares were traded during mid-day trading, a decline of 89% from the previous session’s volume of 84,471 shares.The stock last traded at $45.62 and had previously closed at $44.25.

Separately, Zacks Investment Research downgraded shares of Corenergy Infrastructure Trust from a “hold” rating to a “sell” rating in a report on Monday, August 5th.

The company has a debt-to-equity ratio of 0.30, a current ratio of 10.35 and a quick ratio of 8.57. The firm has a market capitalization of $595.83 million, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 2.60 and a beta of 1.42. The stock’s fifty day moving average price is $40.71.

Corenergy Infrastructure Trust (NYSE:CORR) last issued its quarterly earnings results on Wednesday, July 31st. The asset manager reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.38). The business had revenue of $21.53 million during the quarter, compared to analyst estimates of $21.16 million. Corenergy Infrastructure Trust had a net margin of 47.22% and a return on equity of 12.42%.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders 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 annualized dividend and a yield of 6.46%. Corenergy Infrastructure Trust’s payout ratio is presently 81.08%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its holdings in Corenergy Infrastructure Trust by 8.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,891 shares of the asset manager’s stock worth $273,000 after buying an additional 536 shares during the period. Principal Financial Group Inc. raised its holdings in Corenergy Infrastructure Trust by 8.6% during the 4th quarter. Principal Financial Group Inc. now owns 8,868 shares of the asset manager’s stock worth $293,000 after buying an additional 700 shares during the period. WINTON GROUP Ltd raised its holdings in Corenergy Infrastructure Trust by 118.1% during the 2nd quarter. WINTON GROUP Ltd now owns 32,366 shares of the asset manager’s stock worth $1,284,000 after buying an additional 17,529 shares during the period. State of Alaska Department of Revenue raised its holdings in Corenergy Infrastructure Trust by 28.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,997 shares of the asset manager’s stock worth $198,000 after buying an additional 1,094 shares during the period. Finally, BNP Paribas Arbitrage SA raised its holdings in Corenergy Infrastructure Trust by 233.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,195 shares of the asset manager’s stock worth $81,000 after buying an additional 1,536 shares during the period. Hedge funds and other institutional investors 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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