Victory Capital Management Inc. increased its stake in shares of CorEnergy Infrastructure Trust Inc. (NYSE:CORR) by 31.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,453 shares of the company’s stock after buying an additional 6,100 shares during the period. Victory Capital Management Inc.’s holdings in CorEnergy Infrastructure Trust were worth $734,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. acquired a new stake in shares of CorEnergy Infrastructure Trust during the first quarter worth $408,000. DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in CorEnergy Infrastructure Trust during the second quarter worth approximately $1,148,000. Mariner Wealth Advisors LLC raised its stake in CorEnergy Infrastructure Trust by 2.8% in the first quarter. Mariner Wealth Advisors LLC now owns 50,733 shares of the company’s stock worth $1,020,000 after buying an additional 1,390 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in CorEnergy Infrastructure Trust during the second quarter worth approximately $1,708,000. Finally, Prudential Financial Inc. raised its stake in CorEnergy Infrastructure Trust by 23.8% in the first quarter. Prudential Financial Inc. now owns 61,435 shares of the company’s stock worth $1,235,000 after buying an additional 11,800 shares in the last quarter. Institutional investors and hedge funds own 58.60% of the company’s stock.
Shares of CorEnergy Infrastructure Trust Inc. (NYSE:CORR) traded down 3.960% on Tuesday, reaching $29.955. 52,974 shares of the company’s stock were exchanged. CorEnergy Infrastructure Trust Inc. has a one year low of $10.90 and a one year high of $32.28. The company’s 50 day moving average is $29.38 and its 200-day moving average is $25.34.
CorEnergy Infrastructure Trust (NYSE:CORR) last posted its earnings results on Tuesday, August 9th. The company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by $0.04. CorEnergy Infrastructure Trust had a net margin of 18.43% and a return on equity of 4.25%. The business earned $22.06 million during the quarter, compared to analysts’ expectations of $21.73 million. On average, equities analysts predict that CorEnergy Infrastructure Trust Inc. will post $0.31 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 9.62%. The ex-dividend date was Monday, August 15th. CorEnergy Infrastructure Trust’s dividend payout ratio (DPR) is presently 291.26%.
A number of research firms recently commented on CORR. Zacks Investment Research lowered shares of CorEnergy Infrastructure Trust from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. DA Davidson began coverage on shares of CorEnergy Infrastructure Trust in a report on Thursday, September 22nd. They set a “buy” rating and a $36.00 price target for the company. RBC Capital Markets reiterated a “sector perform” rating and set a $30.00 price target (up from $23.00) on shares of CorEnergy Infrastructure Trust in a report on Saturday, August 13th. Stifel Nicolaus upgraded shares of CorEnergy Infrastructure Trust from a “hold” rating to a “buy” rating and upped their price target for the company from $24.05 to $32.00 in a report on Wednesday, June 1st. Finally, Royal Bank Of Canada upped their price target on shares of CorEnergy Infrastructure Trust from $23.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, August 12th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $32.20.
About CorEnergy Infrastructure Trust
CorEnergy Infrastructure Trust, Inc 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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