Corenergy Infrastructure Trust (NYSE:CORR) Given New $8.00 Price Target at DA Davidson

Corenergy Infrastructure Trust (NYSE:CORR) had its price objective dropped by analysts at DA Davidson from $15.00 to $8.00 in a report released on Friday, The Fly reports. The brokerage presently has an “underperform” rating on the asset manager’s stock. DA Davidson’s price target points to a potential downside of 7.41% from the stock’s previous close.

CORR has been the subject of several other reports. ValuEngine upgraded Corenergy Infrastructure Trust from a “strong sell” rating to a “sell” rating in a research report on Friday, June 5th. Zacks Investment Research cut Corenergy Infrastructure Trust from a “buy” rating to a “strong sell” rating in a research report on Thursday, April 16th. Finally, Stifel Nicolaus reduced their price target on Corenergy Infrastructure Trust from $44.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th. Three investment analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. The stock has a consensus rating of “Sell” and a consensus price target of $16.67.

Shares of NYSE:CORR traded down $0.68 during trading on Friday, hitting $8.64. The stock had a trading volume of 87,411 shares, compared to its average volume of 599,761. Corenergy Infrastructure Trust has a 12-month low of $9.16 and a 12-month high of $49.75. The stock has a market capitalization of $128.05 million, a price-to-earnings ratio of -22.15 and a beta of 1.21. The company has a quick ratio of 17.16, a current ratio of 17.16 and a debt-to-equity ratio of 0.43. The stock has a 50-day simple moving average of $11.44 and a two-hundred day simple moving average of $28.48.

Institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE grew its holdings in Corenergy Infrastructure Trust by 77.1% in the fourth quarter. US Bancorp DE now owns 790 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 344 shares during the period. Synovus Financial Corp acquired a new stake in Corenergy Infrastructure Trust in the first quarter valued at approximately $36,000. Asset Management One Co. Ltd. grew its holdings in Corenergy Infrastructure Trust by 54.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,391 shares of the asset manager’s stock valued at $62,000 after purchasing an additional 490 shares during the period. Marshall Wace North America L.P. acquired a new stake in Corenergy Infrastructure Trust in the first quarter valued at approximately $74,000. Finally, Atwood & Palmer Inc. grew its holdings in Corenergy Infrastructure Trust by 46.7% in the first quarter. Atwood & Palmer Inc. now owns 4,400 shares of the asset manager’s stock valued at $81,000 after purchasing an additional 1,400 shares during the period. 62.01% of the stock is currently owned by institutional investors.

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.

Further Reading: What does a hold rating mean?

The Fly

Receive News & Ratings for Corenergy Infrastructure Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corenergy Infrastructure Trust and related companies with MarketBeat.com's FREE daily email newsletter.