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. (symbol: CORR) is a specialized asset manager focused on providing capital for the acquisition and development of real property infrastructure assets. The company operates through a unique strategy that revolves around critical infrastructure assets known as 'corridors.' These corridors are essential right-of-ways that facilitate the transportation and distribution of energy resources.
CorEnergy's principal business involves financing operating partners via infrastructure REIT (Real Estate Investment Trust) financing. The goal is to deliver attractive, risk-adjusted total returns to its stockholders, emphasizing both distributions and growth.
Recently, CorEnergy announced the completion of the sale of MoGas Pipeline and Omega Pipeline to Spire Inc. for $175 million, subject to customary closing adjustments. MoGas Pipeline, an interstate natural gas pipeline spreading approximately 263 miles, primarily in Missouri, and Omega Pipeline, a 75-mile gas distribution system primarily serving the Fort Leonard Wood Army Base, are now part of Spire's midstream infrastructure. This transaction enhances Spire's ability to serve its growing customer base in Missouri and strengthens their midstream business.
CorEnergy's approach ensures a steady stream of income and growth opportunities for investors by focusing on long-term, income-generating infrastructure assets. The company maintains a strong financial position through strategic acquisitions, partnerships, and careful asset management. It aims to leverage its expertise in infrastructure financing to create sustainable value for its shareholders.
CorEnergy Infrastructure Trust (NYSE: CORR, CORRPrA) announced its first-quarter 2021 dividend of $0.05 per share, unchanged from the prior quarter, payable on May 28, 2021, to shareholders of record by May 14, 2021. Additionally, a cash dividend of $0.4609375 per share for its 7.375% Series A Preferred Stock will also be paid on the same date. The Company has reinstated its Dividend Reinvestment Plan (DRIP), allowing for the resumption of operations following clearance from the SEC. Earnings results for Q1 2021 will be reported on May 10, 2021.
CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) will participate in the Sidoti & Company Spring 2021 Virtual Conference on March 24-25, 2021. The company will present on March 24 at 10:45 am ET, accessible via webcast on their website. CEO Dave Schulte and CFO Robert Waldron will also hold one-on-one meetings with institutional investors. CorEnergy focuses on owning and operating natural gas and crude oil pipeline assets, enhancing their investment portfolio while navigating forward-looking challenges.
CorEnergy Infrastructure Trust (NYSE: CORR, CORRPrA) announced its fourth quarter and full year 2020 financial results, reporting a net loss attributable to common stockholders of $4.98 million ($0.36 per share) for Q4 and $315.26 million ($23.09 per share) for the year. The company declared a dividend of $0.05 per share for Q4 and $0.90 for the year. Notably, CorEnergy acquired Crimson Midstream for $350 million, expanding its pipeline operations in California. The outlook includes projected revenues of $130-$135 million for 2021 and a strategic focus on growth and diversification.
CorEnergy Infrastructure Trust has acquired Crimson Midstream Holdings for approximately $350 million. This acquisition includes four pipeline systems totaling about 1,800 miles across California, enhancing CorEnergy’s portfolio of regulated utility-like assets. The transaction is expected to generate an annualized EBITDA of $50-$52 million beginning in Q2 2021. The acquisition was funded through cash, equity issuances, and borrowings, aiming for financial flexibility. Additionally, CorEnergy plans to internalize its management, potentially reducing costs and aligning executive interests with shareholder value.
CorEnergy Infrastructure Trust (NYSE: CORR, CORR-PA) has declared a $0.05 per share dividend for its common stock, consistent with the prior quarter, payable on February 26, 2021. The 7.375% Series A Cumulative Redeemable Preferred Stock dividend is set at $0.4609375 per depositary share, equivalent to an annual payment of $1.84375, also payable on February 26, 2021. The company will report its fourth quarter 2020 earnings results on March 3, 2021, and will host a conference call on March 4, 2021 to discuss results.
CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) has detailed the tax characterization of distributions made to shareholders in 2020. The report highlights that common shareholders received total distributions of $0.9000 per share, and holders of the Series A Cumulative Redeemable Preferred Stock received $1.8436 per share. Notably, all distributions are characterized as nondividend distributions. The company advises shareholders to consult tax advisors for any tax-related inquiries. For further details, visit corenergy.reit.
CorEnergy Infrastructure Trust announced participation in three virtual investor conferences in November 2020. The Company will present at the Nareit REITworld Conference on November 17, the RBC Midstream and Energy Infrastructure Conference on November 18, and the Sidoti Virtual Microcap Conference on November 19. An investor presentation has been filed on Form 8-K and is available online. Interested investors can contact CorEnergy's Investor Relations for meeting arrangements. The Company, listed under NYSE: CORR, operates as a REIT focusing on energy assets.
CorEnergy Infrastructure Trust announced its third-quarter results for 2020, reporting a net loss of $6.2 million or $0.46 per share. The NAREIT Funds from Operations also reflected a loss of $4.2 million, equivalent to $0.31 per share. Despite the losses, the company declared a dividend of $0.05 per common share, set for payment on November 30, 2020. Management highlighted ongoing expansions in key assets, expected to drive future revenue, and mentioned plans for an acquisition to support dividend sustainability in 2021.
CorEnergy Infrastructure Trust, Inc. (NYSE: CORR) declared a Q3 2020 dividend of $0.05 per share for common stock, maintaining the previous quarter’s amount. The dividend is set for payment on November 30, 2020, to shareholders of record on November 16, 2020. Additionally, a $0.4609375 cash dividend will be paid for its Series A Preferred Stock, aligning with an annual payment of $1.84375. Management is actively pursuing new asset acquisitions and addressing rent issues at its GIGS asset despite disruptions from multiple hurricanes.
FAQ
What is the market cap of CorEnergy Infrastructure Trust (CORR)?
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What is the MoGas Pipeline?
What is the Omega Pipeline?
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What does SPRE Inc.'s acquisition of MoGas and Omega Pipelines signify?
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