Zacks: Brokerages Anticipate CorEnergy Infrastructure Trust, Inc. (CORR) Will Announce Quarterly Sales of $21.64 Million
Equities analysts expect CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) to announce sales of $21.64 million for the current quarter, according to Zacks. Two analysts have made estimates for CorEnergy Infrastructure Trust’s earnings, with the lowest sales estimate coming in at $21.06 million and the highest estimate coming in at $22.21 million. CorEnergy Infrastructure Trust posted sales of $22.12 million in the same quarter last year, which suggests a negative year over year growth rate of 2.2%. The business is expected to announce its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that CorEnergy Infrastructure Trust will report full year sales of $21.64 million for the current financial year, with estimates ranging from $84.11 million to $89.02 million. For the next financial year, analysts anticipate that the firm will report sales of $87.21 million per share, with estimates ranging from $83.98 million to $89.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover CorEnergy Infrastructure Trust.
CORR has been the topic of several recent research reports. BidaskClub raised shares of CorEnergy Infrastructure Trust from a “hold” rating to a “buy” rating in a report on Saturday. Bank of America Corporation cut shares of CorEnergy Infrastructure Trust from a “neutral” rating to an “underperform” rating and set a $35.00 price objective for the company. in a research note on Monday, June 26th. ValuEngine raised shares of CorEnergy Infrastructure Trust from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Finally, Zacks Investment Research upgraded CorEnergy Infrastructure Trust from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $35.50.
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Shares of CorEnergy Infrastructure Trust (NYSE:CORR) traded down 0.09% during trading on Friday, reaching $35.09. The company had a trading volume of 82,403 shares. CorEnergy Infrastructure Trust has a 12 month low of $23.21 and a 12 month high of $37.25. The firm’s 50 day moving average price is $33.30 and its 200 day moving average price is $34.49. The firm has a market capitalization of $417.64 million, a P/E ratio of 14.51 and a beta of 2.09.
Institutional investors and hedge funds have recently modified their holdings of the business. Atwood & Palmer Inc. acquired a new stake in shares of CorEnergy Infrastructure Trust during the second quarter worth $101,000. Legal & General Group Plc increased its stake in CorEnergy Infrastructure Trust by 0.9% in the second quarter. Legal & General Group Plc now owns 3,189 shares of the asset manager’s stock valued at $108,000 after purchasing an additional 30 shares during the last quarter. Synovus Financial Corp acquired a new position in CorEnergy Infrastructure Trust in the second quarter valued at $205,000. Voya Investment Management LLC acquired a new position in CorEnergy Infrastructure Trust in the second quarter valued at $221,000. Finally, American International Group Inc. increased its stake in CorEnergy Infrastructure Trust by 7.1% in the first quarter. American International Group Inc. now owns 7,361 shares of the asset manager’s stock valued at $249,000 after purchasing an additional 487 shares during the last quarter. Institutional investors own 64.23% of the company’s stock.
CorEnergy Infrastructure Trust Company Profile
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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