$22.22 Million in Sales Expected for Corenergy Infrastructure Trust Inc (CORR) This Quarter
Analysts expect Corenergy Infrastructure Trust Inc (NYSE:CORR) to post sales of $22.22 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Corenergy Infrastructure Trust’s earnings, with the lowest sales estimate coming in at $22.04 million and the highest estimate coming in at $22.39 million. Corenergy Infrastructure Trust reported sales of $22.40 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 0.8%. 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 sales of $88.55 million for the current year, with estimates ranging from $88.38 million to $88.72 million. For the next financial year, analysts anticipate that the company will post sales of $90.38 million, with estimates ranging from $88.13 million to $92.63 million. Zacks’ sales averages are an average based on a survey of research analysts that cover Corenergy Infrastructure Trust.
Corenergy Infrastructure Trust (NYSE:CORR) last posted its earnings results on Wednesday, October 31st. The asset manager reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.53). Corenergy Infrastructure Trust had a net margin of 33.78% and a return on equity of 9.22%. The company had revenue of $22.64 million during the quarter, compared to analyst estimates of $22.20 million.
Corenergy Infrastructure Trust stock opened at $36.99 on Wednesday. Corenergy Infrastructure Trust has a fifty-two week low of $33.49 and a fifty-two week high of $39.46. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.75 and a quick ratio of 4.75. The company has a market capitalization of $444.87 million, a P/E ratio of 9.71, a P/E/G ratio of 1.99 and a beta of 1.74.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Thursday, November 15th were paid a $0.75 dividend. The ex-dividend date was Wednesday, November 14th. This represents a $3.00 annualized dividend and a dividend yield of 8.11%. Corenergy Infrastructure Trust’s dividend payout ratio (DPR) is 78.74%.
In other Corenergy Infrastructure Trust news, CEO David J. Schulte purchased 1,000 shares of the company’s stock in a transaction on Tuesday, November 13th. The stock was acquired at an average price of $36.33 per share, for a total transaction of $36,330.00. Following the completion of the purchase, the chief executive officer now directly owns 23,059 shares in the company, valued at approximately $837,733.47. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.20% of the company’s stock.
Large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new position in shares of Corenergy Infrastructure Trust in the third quarter worth $142,000. Private Advisor Group LLC acquired a new position in shares of Corenergy Infrastructure Trust in the third quarter worth $253,000. CIBC Private Wealth Group LLC acquired a new position in shares of Corenergy Infrastructure Trust in the second quarter worth $263,000. Mackay Shields LLC acquired a new position in shares of Corenergy Infrastructure Trust in the second quarter worth $316,000. Finally, Gables Capital Management Inc. acquired a new position in shares of Corenergy Infrastructure Trust in the third quarter worth $325,000. 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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