Zurcher Kantonalbank Zurich Cantonalbank Acquires New Position in Corenergy Infrastructure Trust Inc (NYSE:CORR)

Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Corenergy Infrastructure Trust Inc (NYSE:CORR) in the second quarter, Holdings Channel reports. The firm acquired 731 shares of the asset manager’s stock, valued at approximately $29,000.

Several other hedge funds have also made changes to their positions in CORR. Steward Partners Investment Advisory LLC purchased a new position in Corenergy Infrastructure Trust in the second quarter valued at approximately $95,000. State of Alaska Department of Revenue raised its holdings in Corenergy Infrastructure Trust by 28.0% in the second quarter. State of Alaska Department of Revenue now owns 4,997 shares of the asset manager’s stock valued at $198,000 after buying an additional 1,094 shares during the period. Bessemer Group Inc. raised its holdings in Corenergy Infrastructure Trust by 1.5% in the second quarter. Bessemer Group Inc. now owns 41,400 shares of the asset manager’s stock valued at $1,642,000 after buying an additional 600 shares during the period. AdvisorNet Financial Inc purchased a new position in Corenergy Infrastructure Trust in the second quarter valued at approximately $107,000. Finally, Nisa Investment Advisors LLC raised its holdings in Corenergy Infrastructure Trust by 8.4% in the second quarter. Nisa Investment Advisors LLC now owns 6,891 shares of the asset manager’s stock valued at $273,000 after buying an additional 536 shares during the period. Hedge funds and other institutional investors own 64.29% of the company’s stock.

NYSE CORR traded down $0.47 during mid-day trading on Friday, hitting $44.97. The company’s stock had a trading volume of 2,323 shares, compared to its average volume of 220,192. Corenergy Infrastructure Trust Inc has a 52-week low of $32.52 and a 52-week high of $49.75. The stock’s fifty day simple moving average is $42.41 and its two-hundred day simple moving average is $39.17. The company has a debt-to-equity ratio of 0.30, a current ratio of 10.35 and a quick ratio of 10.35. The firm has a market capitalization of $579.66 million, a P/E ratio of 12.21 and a beta of 1.42.

Corenergy Infrastructure Trust (NYSE:CORR) last posted its quarterly earnings results on Wednesday, July 31st. The asset manager reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.38). Corenergy Infrastructure Trust had a net margin of 47.22% and a return on equity of 12.42%. The business had revenue of $21.53 million during the quarter, compared to analysts’ expectations of $21.16 million.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 6.67%. The ex-dividend date of this dividend is Thursday, August 15th. Corenergy Infrastructure Trust’s dividend payout ratio (DPR) is 81.08%.

Separately, Zacks Investment Research lowered shares of Corenergy Infrastructure Trust from a “hold” rating to a “sell” rating in a report on Monday, August 5th.

Corenergy Infrastructure Trust Company 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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Institutional Ownership by Quarter for Corenergy Infrastructure Trust (NYSE:CORR)

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