Prudential Financial Inc. decreased its position in shares of Corenergy Infrastructure Trust Inc (NYSE:CORR) by 17.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 159,276 shares of the asset manager’s stock after selling 33,850 shares during the period. Prudential Financial Inc.’s holdings in Corenergy Infrastructure Trust were worth $6,317,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in Corenergy Infrastructure Trust by 8.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,891 shares of the asset manager’s stock worth $273,000 after buying an additional 536 shares during the period. WINTON GROUP Ltd increased its stake in Corenergy Infrastructure Trust by 118.1% during the 2nd quarter. WINTON GROUP Ltd now owns 32,366 shares of the asset manager’s stock worth $1,284,000 after buying an additional 17,529 shares during the period. State of Alaska Department of Revenue increased its stake in Corenergy Infrastructure Trust by 28.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,997 shares of the asset manager’s stock worth $198,000 after buying an additional 1,094 shares during the period. AdvisorNet Financial Inc purchased a new stake in Corenergy Infrastructure Trust during the 2nd quarter worth $107,000. Finally, BNP Paribas Arbitrage SA increased its stake 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 worth $81,000 after buying an additional 1,536 shares during the period. 65.03% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research downgraded shares of Corenergy Infrastructure Trust from a “hold” rating to a “sell” rating in a research report on Monday, August 5th.
Shares of CORR traded up $0.03 during midday trading on Thursday, hitting $46.77. The company had a trading volume of 1,008 shares, compared to its average volume of 89,729. The company’s 50 day moving average price is $44.47 and its 200 day moving average price is $40.04. The stock has a market cap of $598.75 million, a price-to-earnings ratio of 12.64 and a beta of 1.38. Corenergy Infrastructure Trust Inc has a 52 week low of $32.52 and a 52 week high of $49.75. The company has a quick ratio of 10.35, a current ratio of 10.35 and a debt-to-equity ratio of 0.30.
Corenergy Infrastructure Trust (NYSE:CORR) last released its earnings results on Wednesday, July 31st. The asset manager reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.38). The company had revenue of $21.53 million during the quarter, compared to the consensus estimate of $21.16 million. Corenergy Infrastructure Trust had a return on equity of 12.42% and a net margin of 47.22%.
The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 6.41%. The ex-dividend date was Thursday, August 15th. Corenergy Infrastructure Trust’s payout ratio is currently 81.08%.
Corenergy Infrastructure Trust 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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