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 (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.
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