CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) Upgraded at ValuEngine

ValuEngine upgraded shares of CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) from a buy rating to a strong-buy rating in a report issued on Monday, July 24th.

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CORR has been the topic of several other research reports. Bank of America Corporation downgraded CorEnergy Infrastructure Trust from a neutral rating to an underperform rating and set a $35.00 price objective on the stock. in a research report on Monday, June 26th. BidaskClub raised CorEnergy Infrastructure Trust from a hold rating to a buy rating in a research report on Wednesday, July 19th. Zacks Investment Research downgraded CorEnergy Infrastructure Trust from a hold rating to a sell rating in a research report on Tuesday, May 16th. Finally, Royal Bank Of Canada reaffirmed a sector perform rating and issued a $37.00 price objective (up previously from $30.00) on shares of CorEnergy Infrastructure Trust in a research report on Wednesday, May 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. CorEnergy Infrastructure Trust presently has an average rating of Hold and a consensus target price of $35.60.

CorEnergy Infrastructure Trust (NYSE:CORR) traded up 2.86% during mid-day trading on Monday, reaching $35.55. 89,545 shares of the company traded hands. The company’s 50 day moving average price is $34.65 and its 200 day moving average price is $34.95. The firm has a market capitalization of $423.15 million, a P/E ratio of 14.69 and a beta of 2.06. CorEnergy Infrastructure Trust has a 12-month low of $23.21 and a 12-month high of $37.25.

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The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 8.44%. The ex-dividend date of this dividend is Tuesday, August 15th. CorEnergy Infrastructure Trust’s payout ratio is 124.48%.

In other news, CEO David J. Schulte purchased 1,000 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were acquired at an average price of $32.89 per share, with a total value of $32,890.00. Following the transaction, the chief executive officer now owns 21,010 shares of the company’s stock, valued at $691,018.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.99% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of CORR. Legal & General Group Plc increased its position 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 worth $108,000 after buying an additional 30 shares during the last quarter. Rhumbline Advisers increased its position in CorEnergy Infrastructure Trust by 1.1% in the second quarter. Rhumbline Advisers now owns 16,455 shares of the asset manager’s stock worth $553,000 after buying an additional 173 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in CorEnergy Infrastructure Trust during the second quarter worth about $290,000. Goldman Sachs Group Inc. increased its position in CorEnergy Infrastructure Trust by 9.0% in the first quarter. Goldman Sachs Group Inc. now owns 607,114 shares of the asset manager’s stock worth $20,509,000 after buying an additional 49,994 shares during the last quarter. Finally, Lucus Advisors LLC purchased a new position in CorEnergy Infrastructure Trust during the first quarter worth about $414,000. 69.96% of the stock is currently owned by institutional investors and hedge funds.

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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