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 its financial results for the fourth quarter and fiscal year 2021. Total revenue for Q4 was $35.8 million, despite a 3.7% decrease in crude oil volumes. The company declared a $0.05 common stock dividend and a 7.375% preferred stock dividend, both paid on February 28, 2022. Management expects to maintain a $0.20 annual common dividend in 2022, with projected adjusted EBITDA between $44.0 million and $46.0 million. Inaugural ESG report published, confirming responsible operational practices.
CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) announced a fourth quarter 2021 dividend of $0.05 per share for common stock, payable on February 28, 2022. Shareholders on record by February 14, 2022 will receive this dividend. Additionally, a cash dividend of $0.4609375 per depositary share for the 7.375% Series A Preferred Stock will be paid on the same date to record shareholders. The Company will report its fourth quarter and full year 2021 results on March 14, 2022.
CorEnergy Infrastructure Trust announced details regarding the tax characterization of 2021 distributions to its shareholders. For common shareholders, a total distribution of $0.2000 per share was reported, with all categorized as non-dividend distributions. For holders of the 7.375% Series A Cumulative Redeemable Preferred Stock, the total distribution was $1.8436 per share, also classified solely as non-dividend distributions. The company emphasizes consulting tax advisors for guidance on these distributions.
CorEnergy Infrastructure Trust (NYSE: CORR, CORRPrA) reported third-quarter 2021 financial results, with consolidated revenue of $37.0 million, including a nonrecurring $2.2 million pipeline measurement gain. Average transported crude oil volumes rose by 1.6% compared to the previous quarter. The company declared a $0.05 dividend for common stock and $0.4609375 for preferred stock, payable on November 30, 2021. Management revised its EBITDA outlook for the second half of 2021 to $42-44 million due to market conditions.
CorEnergy Infrastructure Trust has declared a third quarter 2021 dividend of $0.05 per share for its common stock, payable on November 30, 2021, to shareholders of record on November 16, 2021. Additionally, it announced a cash dividend of $0.4609375 per depositary share for its 7.375% Series A Preferred Stock, equating to an annual dividend of $1.84375. The Company will report its third quarter earnings on November 9, 2021, and host a conference call at 10:00 a.m. Central Time.
CorEnergy Infrastructure Trust reported consolidated revenue of $32.3 million for Q2 2021, following its transaction with Crimson Midstream. The company increased tariffs by 10% on most regulated pipelines, effective August 1, 2021. Despite a net loss attributable to common stockholders of $(1.9 million) or $(0.14) per share, management highlighted progress in integration activities and maintained a common stock dividend of $0.20 annualized per share. The firm anticipates improved revenue in the latter half of the year.
CorEnergy Infrastructure Trust (NYSE: CORR, CORRPrA) is set to announce its earnings results for the second quarter ending June 30, 2021, on August 9, 2021. A conference call to discuss these financial results will occur at 1:00 p.m. Central Time on the same day, with participation details provided. A replay of the call will be accessible until September 8, 2021. As a real estate investment trust, CorEnergy specializes in the ownership and operation of regulated natural gas and crude oil pipelines.
CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) declared a second quarter 2021 dividend of $0.05 per share for common stock, payable on August 31, 2021, to shareholders of record on August 17, 2021. Additionally, a cash dividend of $0.4609375 per depositary share for the 7.375% Series A Preferred Stock, equating to an annual payment of $1.84375, was also announced, with the same payment date. The Board also authorized dividend declarations for Series B and Series C Preferred Securities under specific agreements.
CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) held its 2021 annual meeting where stockholders approved four key items, including the issuance of Class B Common Stock linked to the Crimson Transaction and the internalization of its REIT manager. The board authorized the conversion of 9.0% Series C Preferred Stock into 7.375% Series A Cumulative Redeemable Preferred Stock, projected to save over $450,000 annually in preferred dividends. This simplifies capital structure, enhancing benefits for equity holders. CEO Dave Schulte emphasized these moves as critical for progressing the company’s strategic aims.
CorEnergy Infrastructure Trust reported its Q1 2021 results, revealing a net loss of $14.6 million, or $1.07 per share, and cash available for distribution at ($4.34 million). The company acquired Crimson Midstream for $344 million, which is expected to enhance its asset portfolio. A dividend of $0.05 per share was declared, payable on May 28, 2021. CorEnergy aims to increase this dividend to $0.35-$0.40 per share post-recovery from COVID-19 impacts in California. Revenue guidance for H2 2021 is set between $130-$135 million, with adjusted EBITDA projected at $50-$52 million.
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