Brokerages expect Corenergy Infrastructure Trust Inc (NYSE:CORR) to announce $22.22 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Corenergy Infrastructure Trust’s earnings, with estimates ranging from $22.04 million to $22.39 million. Corenergy Infrastructure Trust posted sales of $22.40 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 0.8%. The company is expected to issue its next earnings report on Wednesday, February 27th.
On average, analysts expect that Corenergy Infrastructure Trust will report full-year sales of $88.55 million for the current fiscal year, with estimates ranging from $88.38 million to $88.72 million. For the next fiscal year, analysts expect that the company will report sales of $90.38 million, with estimates ranging from $88.13 million to $92.63 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Corenergy Infrastructure Trust.
Corenergy Infrastructure Trust (NYSE:CORR) last posted its quarterly earnings data on Wednesday, October 31st. The asset manager reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.53). The business had revenue of $22.64 million during the quarter, compared to analyst estimates of $22.20 million. Corenergy Infrastructure Trust had a net margin of 33.78% and a return on equity of 9.22%.
NYSE CORR opened at $36.99 on Wednesday. Corenergy Infrastructure Trust has a one year low of $33.49 and a one year high of $39.46. The company has a current ratio of 4.75, a quick ratio of 4.75 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $444.87 million, a price-to-earnings ratio of 9.71, a price-to-earnings-growth ratio of 1.99 and a beta of 1.74.
The company also recently declared a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Thursday, November 15th were paid a dividend of $0.75 per share. The ex-dividend date was Wednesday, November 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 8.11%. Corenergy Infrastructure Trust’s dividend payout ratio (DPR) is 78.74%.
In other news, CEO David J. Schulte purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, November 13th. The shares were acquired at an average cost of $36.33 per share, for a total transaction of $36,330.00. Following the completion of the purchase, the chief executive officer now directly owns 23,059 shares in the company, valued at approximately $837,733.47. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.20% of the company’s stock.
Several institutional investors have recently modified their holdings of CORR. State of Alaska Department of Revenue purchased a new stake in Corenergy Infrastructure Trust during the third quarter worth about $142,000. Private Advisor Group LLC purchased a new stake in Corenergy Infrastructure Trust during the third quarter worth about $253,000. CIBC Private Wealth Group LLC purchased a new stake in Corenergy Infrastructure Trust during the second quarter worth about $263,000. Mackay Shields LLC purchased a new stake in Corenergy Infrastructure Trust during the second quarter worth about $316,000. Finally, Gables Capital Management Inc. purchased a new stake in Corenergy Infrastructure Trust during the third quarter worth about $325,000. Institutional investors and hedge funds own 64.42% of the company’s stock.
About Corenergy Infrastructure Trust
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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