Wall Street brokerages expect that Corenergy Infrastructure Trust Inc (NYSE:CORR) will report sales of $22.20 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Corenergy Infrastructure Trust’s earnings, with the lowest sales estimate coming in at $22.12 million and the highest estimate coming in at $22.28 million. Corenergy Infrastructure Trust posted sales of $22.44 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.1%. The firm is scheduled to report its next quarterly earnings results after the market closes on Wednesday, October 31st.
According to Zacks, analysts expect that Corenergy Infrastructure Trust will report full year sales of $88.06 million for the current year, with estimates ranging from $87.86 million to $88.25 million. For the next year, analysts forecast that the firm will report sales of $89.70 million, with estimates ranging from $87.25 million to $92.15 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Corenergy Infrastructure Trust.
Corenergy Infrastructure Trust (NYSE:CORR) last posted its earnings results on Wednesday, August 1st. The asset manager reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.54). Corenergy Infrastructure Trust had a net margin of 35.52% and a return on equity of 9.32%. The business had revenue of $22.15 million during the quarter, compared to analyst estimates of $22.05 million.
NYSE:CORR traded down $0.21 on Friday, reaching $35.65. The company’s stock had a trading volume of 36,131 shares, compared to its average volume of 73,582. Corenergy Infrastructure Trust has a 1-year low of $34.22 and a 1-year high of $39.46. The company has a current ratio of 5.92, a quick ratio of 5.92 and a debt-to-equity ratio of 0.47. The stock has a market cap of $432.27 million, a price-to-earnings ratio of 9.36, a PEG ratio of 1.93 and a beta of 1.80.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $3.00 dividend on an annualized basis and a yield of 8.42%. Corenergy Infrastructure Trust’s payout ratio is 78.74%.
Institutional investors have recently modified their holdings of the company. LSV Asset Management lifted its holdings in shares of Corenergy Infrastructure Trust by 3.6% in the second quarter. LSV Asset Management now owns 656,349 shares of the asset manager’s stock valued at $24,678,000 after purchasing an additional 22,709 shares in the last quarter. CIBC Private Wealth Group LLC bought a new stake in shares of Corenergy Infrastructure Trust in the second quarter valued at about $263,000. James Investment Research Inc. bought a new stake in shares of Corenergy Infrastructure Trust in the second quarter valued at about $1,475,000. Renaissance Technologies LLC lifted its holdings in shares of Corenergy Infrastructure Trust by 15.6% in the second quarter. Renaissance Technologies LLC now owns 867,900 shares of the asset manager’s stock valued at $32,633,000 after purchasing an additional 116,971 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of Corenergy Infrastructure Trust in the first quarter valued at about $109,000. Institutional investors own 63.89% 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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