Welcome to our dedicated page for CorEnergy Infrastructure Trust news (Ticker: CORR), a resource for investors and traders seeking the latest updates and insights on CorEnergy Infrastructure Trust stock.
CorEnergy Infrastructure Trust, Inc. (CORR) is a specialized asset manager operating within the niche sector of infrastructure-focused Real Estate Investment Trusts (REITs). The company’s core business revolves around providing capital for the acquisition, development, and financing of critical real property infrastructure assets. By leveraging its expertise in infrastructure REIT financing, CorEnergy supports operating partners in securing and optimizing essential infrastructure assets, making it a pivotal player in the broader real estate and energy sectors.
Business Model and Revenue Streams
CorEnergy generates revenue primarily through long-term leasing and financing agreements with operating partners. These agreements are often tied to high-value infrastructure assets, such as pipelines, transmission lines, and other essential facilities that form the backbone of energy and utility networks. This business model ensures a steady and predictable income stream, aligning with the company’s objective to deliver attractive risk-adjusted total returns to its stockholders. A significant emphasis is placed on distributions and their growth, making CorEnergy particularly appealing to income-focused investors.
Strategic Focus on 'Corridors'
The company’s strategy is centered on infrastructure right-of-ways, referred to as 'corridors.' These corridors encompass critical assets that are integral to the transportation and distribution of resources, such as energy and utilities. By concentrating on these high-value, hard-to-replicate assets, CorEnergy positions itself as a unique player capable of addressing the growing demand for infrastructure development and modernization. This strategic focus not only enhances the company’s competitive edge but also provides resilience against economic volatility, given the essential nature of these assets.
Industry Context and Market Position
CorEnergy operates at the intersection of real estate, infrastructure, and energy—three sectors that are capital-intensive and vital to economic growth. As an infrastructure REIT, the company fills a critical gap by offering financing solutions for assets that are often overlooked by traditional REITs. This positions CorEnergy as a niche player in the real estate investment landscape, catering to a specialized market segment with high barriers to entry. The company’s ability to integrate real estate expertise with energy infrastructure insights sets it apart from competitors, including generalist REITs and traditional asset managers.
Challenges and Opportunities
Operating within the infrastructure REIT space presents unique challenges, such as navigating complex regulatory environments, managing interest rate risks, and staying competitive in a market with evolving energy and utility needs. However, CorEnergy’s focus on critical, non-replicable assets provides a significant advantage. Additionally, the growing emphasis on infrastructure modernization and energy transition offers opportunities for the company to expand its portfolio and adapt to emerging trends.
Commitment to Shareholder Value
CorEnergy’s overarching objective is to deliver attractive risk-adjusted total returns to its stockholders. This includes a strong focus on consistent distributions and their growth over time. By aligning its business strategy with shareholder interests, the company demonstrates a commitment to long-term value creation, supported by its expertise in managing and financing critical infrastructure assets.
In summary, CorEnergy Infrastructure Trust, Inc. stands out as a specialized infrastructure REIT with a unique focus on critical 'corridor' assets. Its strategic approach, combined with its expertise in real property infrastructure, positions it as a key player in a niche but essential segment of the real estate and energy markets. Through its commitment to shareholder value and its ability to navigate complex industry dynamics, CorEnergy continues to play a vital role in the development and financing of infrastructure assets that underpin modern economies.
CorEnergy Infrastructure Trust reported Q4 2022 results with total revenue of $36.3 million and a net loss of $553,000. Adjusted EBITDA was $9.4 million with an average transport volume of 164,763 barrels/day. In early 2023, the company filed for significant tariff increases on its pipelines, but suspended dividends on its common and preferred stock due to financial challenges. The company restructured its corporate operations and plans to publish an ESG update. It anticipates Adjusted EBITDA of $33-35 million for 2023, amid rising costs and declining volumes in California.
CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) announced it will report its financial results for Q4 and the full year ended December 31, 2022, on March 7, 2023. The company will hold a conference call on the same day at 10:00 a.m. Central Time to discuss these results, which will also include updates on business developments and financial matters. Interested parties can join the call by dialing +1-973-528-0011 and using access code 423263. A replay will be available until April 6, 2022, and will also be accessible through the company's website.
CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORR-PA) has announced the suspension of dividends on its 7.375% Series A Cumulative Redeemable Preferred Stock and common stock. The decision is attributed to declining volumes and increased costs in California systems.
The company has filed for a 36% rate increase on its SPB line in California. To address near-term debt maturities, CorEnergy focuses on monetizing assets and reducing leverage. The company will reassess dividend payments quarterly. Information on full-year 2022 results and a 2023 outlook is scheduled for release on March 7, 2023.
CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) announced the tax characterization of its 2022 distributions. The total distributions for common shareholders amounted to $0.2000 per share, with all being classified as non-dividend distributions. For the 7.375% Series A Cumulative Redeemable Preferred Stock, total distributions were $1.8436 per share, including ordinary dividends of $0.6612 and qualified dividends of $0.1653. The company emphasizes that the information should not be construed as tax advice and recommends consulting a tax advisor.
CorEnergy Infrastructure Trust reported its third-quarter financial results for 2022, showing total revenue of $33.0 million but a net loss of $15.5 million, which includes a $16.2 million impairment of goodwill. Adjusted EBITDA was $8.9 million, and average daily transport rose to 164,748 barrels, up from 159,202 barrels the prior quarter. The company declared a common stock dividend of $0.05 per share and a preferred stock dividend of $0.4609375 per share, both payable on November 30, 2022. CorEnergy maintains its 2022 adjusted EBITDA outlook of $42.0 million to $44.0 million.
CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORR-PA) declared a third quarter 2022 dividend of $0.05 per share, consistent with the previous quarter, payable on November 30, 2022, to shareholders of record by November 16, 2022. Additionally, a cash dividend of $0.4609375 per depositary share for its 7.375% Series A Preferred Stock will also be distributed on the same date. The company will announce its financial results for Q3 on November 10, 2022, followed by a conference call at 10:00 a.m. CT.
CorEnergy Infrastructure Trust (NYSE: CORR, CORR-PA) reported Q2 2022 financial results, achieving consolidated revenue of $31.5 million and a net income of $2.2 million. Adjusted EBITDA reached $10.0 million. Transportation volumes were lower than anticipated but were offset by stronger crude oil revenue. The company announced a 10% rate increase proposal to the California Public Utilities Commission to support earnings amid declining oil production. A dividend of $0.05 per share was declared, alongside a $0.4609375 preferred stock dividend, both payable on August 31, 2022.
CorEnergy Infrastructure Trust (NYSE: CORR, CORRPrA) declared a Q2 2022 dividend of
CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) reported consolidated revenue of $32.9 million for Q1 2022, with a net income of $4.4 million and adjusted EBITDA of $12.0 million. The company announced its first carbon sequestration project in California and published its inaugural ESG report, highlighting a lower emission profile compared to average oil and gas pipelines. A dividend of $0.05 per share for common stock and $0.4609375 for preferred stock was declared, payable on May 31, 2022.
CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORR-PA) declared a first quarter 2022 dividend of $0.05 per share for its common stock, consistent with the previous quarter. This dividend is payable on May 31, 2022 to shareholders of record by May 17, 2022. Additionally, a cash dividend of $0.4609375 per depositary share for the 7.375% Series A Preferred Stock was declared, equating to an annual payment of $1.84375. The company will announce its first quarter results on May 12, 2022.
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