Energy Income Partners LLC increased its stake in Corenergy Infrastructure Trust Inc (NYSE:CORR) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 391,375 shares of the asset manager’s stock after purchasing an additional 620 shares during the quarter. Energy Income Partners LLC owned approximately 3.05% of Corenergy Infrastructure Trust worth $15,522,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of CORR. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Corenergy Infrastructure Trust during the 2nd quarter valued at $29,000. US Bancorp DE raised its holdings in Corenergy Infrastructure Trust by 52.0% during the 2nd quarter. US Bancorp DE now owns 1,046 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 358 shares during the period. Bank of Montreal Can raised its holdings in Corenergy Infrastructure Trust by 2,049.2% during the 2nd quarter. Bank of Montreal Can now owns 1,311 shares of the asset manager’s stock valued at $53,000 after acquiring an additional 1,250 shares during the period. Marshall Wace North America L.P. bought a new stake in Corenergy Infrastructure Trust during the 1st quarter valued at $74,000. 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 valued at $81,000 after acquiring an additional 1,536 shares during the period. 65.06% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research cut shares of Corenergy Infrastructure Trust from a “hold” rating to a “sell” rating in a report on Tuesday.
Corenergy Infrastructure Trust (NYSE:CORR) last issued its earnings results on Wednesday, July 31st. The asset manager reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.38). The business had revenue of $21.53 million for the quarter, compared to the consensus estimate of $21.16 million. Corenergy Infrastructure Trust had a net margin of 47.22% and a return on equity of 12.42%. Equities research analysts anticipate that Corenergy Infrastructure Trust Inc will post 3.41 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a $0.75 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.00 annualized dividend and a dividend yield of 6.42%. Corenergy Infrastructure Trust’s payout ratio is currently 81.08%.
Corenergy Infrastructure Trust Company Profile
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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