Corenergy Infrastructure Trust Inc (NYSE:CORR) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Stockholders of record on Monday, August 17th will be given a dividend of 0.05 per share by the asset manager on Monday, August 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, August 14th.
Corenergy Infrastructure Trust has a payout ratio of -40.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Corenergy Infrastructure Trust to earn $0.48 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 41.7%.
CORR stock traded down $0.84 during mid-day trading on Thursday, hitting $9.05. The company had a trading volume of 6,285 shares, compared to its average volume of 361,010. Corenergy Infrastructure Trust has a 12 month low of $7.32 and a 12 month high of $49.75. The stock’s fifty day moving average price is $9.65 and its two-hundred day moving average price is $22.41. The firm has a market cap of $123.67 million, a PE ratio of -25.36 and a beta of 1.19. The company has a debt-to-equity ratio of 0.85, a quick ratio of 27.74 and a current ratio of 27.74.
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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