Q1 2019 EPS Estimates for Corenergy Infrastructure Trust Inc Boosted by Analyst (CORR)
Corenergy Infrastructure Trust Inc (NYSE:CORR) – Equities research analysts at DA Davidson upped their Q1 2019 earnings per share estimates for Corenergy Infrastructure Trust in a report issued on Thursday. DA Davidson analyst B. Oxford now forecasts that the asset manager will earn $1.02 per share for the quarter, up from their prior estimate of $1.01. DA Davidson also issued estimates for Corenergy Infrastructure Trust’s Q2 2019 earnings at $1.06 EPS, Q3 2019 earnings at $1.06 EPS, Q4 2019 earnings at $1.06 EPS and FY2019 earnings at $4.21 EPS.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Corenergy Infrastructure Trust from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Wednesday, January 3rd. ValuEngine downgraded shares of Corenergy Infrastructure Trust from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $37.25.
Several hedge funds and other institutional investors have recently modified their holdings of CORR. Voya Investment Management LLC acquired a new stake in shares of Corenergy Infrastructure Trust in the second quarter valued at about $221,000. MetLife Investment Advisors LLC acquired a new stake in shares of Corenergy Infrastructure Trust in the fourth quarter valued at about $228,000. First Trust Advisors LP acquired a new stake in shares of Corenergy Infrastructure Trust in the third quarter valued at about $332,000. The Manufacturers Life Insurance Company raised its position in shares of Corenergy Infrastructure Trust by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 9,912 shares of the asset manager’s stock valued at $333,000 after buying an additional 524 shares during the last quarter. Finally, Nationwide Fund Advisors raised its position in shares of Corenergy Infrastructure Trust by 62.6% in the second quarter. Nationwide Fund Advisors now owns 11,692 shares of the asset manager’s stock valued at $393,000 after buying an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 60.18% of the company’s stock.
In other Corenergy Infrastructure Trust news, CEO David J. Schulte bought 690 shares of Corenergy Infrastructure Trust stock in a transaction dated Tuesday, January 9th. The stock was acquired at an average cost of $37.27 per share, for a total transaction of $25,716.30. Following the completion of the transaction, the chief executive officer now directly owns 21,610 shares of the company’s stock, valued at $805,404.70. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have acquired 1,565 shares of company stock worth $58,117. Insiders own 0.99% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 8.19%. The ex-dividend date of this dividend was Tuesday, February 13th. Corenergy Infrastructure Trust’s payout ratio is 144.93%.
About Corenergy Infrastructure Trust
CorEnergy Infrastructure Trust, Inc (CorEnergy) 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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