Corenergy Infrastructure Trust Inc (NYSE:CORR) Sees Large Growth in Short Interest

Corenergy Infrastructure Trust Inc (NYSE:CORR) was the recipient of a significant increase in short interest in July. As of July 31st, there was short interest totalling 821,200 shares, an increase of 7.4% from the June 30th total of 764,400 shares. Currently, 6.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 109,900 shares, the short-interest ratio is currently 7.5 days.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Corenergy Infrastructure Trust during the 2nd quarter worth about $29,000. US Bancorp DE grew its position in Corenergy Infrastructure Trust by 52.0% in the second quarter. US Bancorp DE now owns 1,046 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 358 shares in the last quarter. Bank of Montreal Can grew its position in Corenergy Infrastructure Trust by 2,049.2% in the second quarter. Bank of Montreal Can now owns 1,311 shares of the asset manager’s stock valued at $53,000 after acquiring an additional 1,250 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Corenergy Infrastructure Trust during the first quarter worth approximately $74,000. Finally, BNP Paribas Arbitrage SA grew its position in shares of Corenergy Infrastructure Trust by 233.1% during the first 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 in the last quarter. 61.64% of the stock is currently owned by hedge funds and other institutional investors.

NYSE CORR traded down $0.01 on Friday, hitting $45.16. 122,317 shares of the stock were exchanged, compared to its average volume of 88,172. 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 has a fifty-two week low of $32.52 and a fifty-two week high of $49.75. The company has a market cap of $579.53 million, a PE ratio of 12.21 and a beta of 1.42. The company has a 50-day moving average price of $41.61 and a 200-day moving average price of $38.91.



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 consensus estimate of $0.97 by ($0.38). The firm had revenue of $21.53 million for the quarter, compared to analyst estimates 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 declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 6.64%. Corenergy Infrastructure Trust’s dividend payout ratio (DPR) is presently 81.08%.

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

About Corenergy Infrastructure Trust

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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