Zacks: Analysts Expect Corenergy Infrastructure Trust Inc (CORR) to Announce $1.00 Earnings Per Share
Equities analysts predict that Corenergy Infrastructure Trust Inc (NYSE:CORR) will report $1.00 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Corenergy Infrastructure Trust’s earnings, with the highest EPS estimate coming in at $1.03 and the lowest estimate coming in at $0.97. Corenergy Infrastructure Trust posted earnings of $1.08 per share during the same quarter last year, which would indicate a negative year over year growth rate of 7.4%. The business is scheduled to announce its next earnings report on Wednesday, February 27th.
According to Zacks, analysts expect that Corenergy Infrastructure Trust will report full-year earnings of $3.74 per share for the current financial year. For the next year, analysts expect that the firm will report earnings of $4.10 per share, with EPS estimates ranging from $4.04 to $4.15. Zacks Investment Research’s earnings per share calculations are an average based on a survey of 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 firm had revenue of $22.64 million for the quarter, compared to analysts’ expectations of $22.20 million. Corenergy Infrastructure Trust had a net margin of 33.78% and a return on equity of 9.22%.
Corenergy Infrastructure Trust stock opened at $36.99 on Monday. The firm has a market cap of $444.87 million, a P/E ratio of 9.71, a PEG ratio of 1.99 and a beta of 1.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.75 and a quick ratio of 4.75. Corenergy Infrastructure Trust has a one year low of $33.49 and a one year high of $39.46.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Thursday, November 15th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 8.11%. The ex-dividend date was Wednesday, November 14th. Corenergy Infrastructure Trust’s dividend payout ratio (DPR) is presently 78.74%.
In other news, CEO David J. Schulte acquired 1,000 shares of Corenergy Infrastructure Trust stock in a transaction that occurred on Tuesday, November 13th. The stock was bought at an average price of $36.33 per share, for a total transaction of $36,330.00. Following the completion of the transaction, the chief executive officer now owns 23,059 shares in the company, valued at $837,733.47. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC increased its position in Corenergy Infrastructure Trust by 5.8% in the third quarter. Renaissance Technologies LLC now owns 918,400 shares of the asset manager’s stock worth $34,513,000 after buying an additional 50,500 shares in the last quarter. LSV Asset Management increased its position in Corenergy Infrastructure Trust by 4.4% in the third quarter. LSV Asset Management now owns 685,010 shares of the asset manager’s stock worth $25,742,000 after buying an additional 28,661 shares in the last quarter. Vanguard Group Inc. increased its position in Corenergy Infrastructure Trust by 1.5% in the third quarter. Vanguard Group Inc. now owns 652,076 shares of the asset manager’s stock worth $24,505,000 after buying an additional 9,380 shares in the last quarter. Morgan Stanley increased its position in Corenergy Infrastructure Trust by 2.9% in the third quarter. Morgan Stanley now owns 494,694 shares of the asset manager’s stock worth $18,591,000 after buying an additional 13,945 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its position in Corenergy Infrastructure Trust by 24.2% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 200,875 shares of the asset manager’s stock worth $7,553,000 after buying an additional 39,195 shares in the last quarter. 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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