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CorEnergy Infrastructure Trust Inc - CORR STOCK NEWS

Welcome to our dedicated news page for CorEnergy Infrastructure Trust (Ticker: CORR), a resource for investors and traders seeking the latest updates and insights on CorEnergy Infrastructure Trust.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect CorEnergy Infrastructure Trust's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of CorEnergy Infrastructure Trust's position in the market.

News
CorEnergy Enters Restructuring Support Agreement
Rhea-AI Summary
CorEnergy Infrastructure Trust, Inc. announces a comprehensive financial restructuring plan to reduce debt and restructure its balance sheet. The company has reached an agreement with noteholders to file for chapter 11 bankruptcy, aiming to emerge as a real estate investment trust in the second quarter of 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-91.67%
Tags
none
-
News
CorEnergy Closes Sale of MoGas and Omega Pipeline Systems to Spire
Rhea-AI Summary
CorEnergy Infrastructure Trust, Inc. announced the sale of its MoGas and Omega pipeline systems to Spire Midstream for $175 million. The transaction resulted in net proceeds of approximately $165 million after taxes and transaction-related costs. The sale allows CorEnergy to significantly de-lever its balance sheet, but the company is currently out of compliance with the NYSE minimum share price requirement and at risk of delisting. The company is evaluating its strategic alternatives regarding its current capital structure.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-21.05%
Tags
none
-
News
Spire completes acquisition of MoGas and Omega pipeline systems
Rhea-AI Summary
Spire Inc. (SR) has completed the acquisition of MoGas Pipeline and Omega Pipeline from CorEnergy Infrastructure Trust, Inc. for $175 million. The acquisition will enhance Spire's midstream infrastructure, including Spire Storage and Spire STL Pipeline. Spire MoGas Pipeline LLC will operate under the new legal name after the acquisition. The acquisition will further enhance Spire's ability to serve customers in Missouri, including utility, municipal, industrial, and commercial customers.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-21.05%
Tags
acquisition
News
CorEnergy Announces Suspension of NYSE Status
Rhea-AI Summary
CorEnergy Infrastructure Trust, Inc. (OTC: CORR, CORRL) received notice of delisting from the NYSE due to falling below the listing standard. The common and preferred stock are now trading on the OTC marketplace. The company intends to appeal the delisting determination and is engaged in strategic efforts to improve its business operations and balance sheet, including the pending sale of MoGas System to Spire Inc. for approximately $175 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-26.67%
Tags
none
-
News
CorEnergy Announces Third Quarter 2023 Results
Rhea-AI Summary
CorEnergy Infrastructure Trust, Inc. announced Q3 2023 financial results, including $33.0 million in revenue, $4.3 million net loss, and $4.8 million adjusted EBITDA. The company submitted additional information to the FTC regarding the sale of its pipeline systems to Spire, Inc. It also advanced proposed cost-of-service based tariff increases and amended its credit facility covenant requirements. The company maintained its 2023 outlook, expecting adjusted EBITDA of $24.0 to $26.0 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.75%
Tags
earnings
-
News
CorEnergy Schedules Results Release for Third Quarter 2023
Rhea-AI Summary
CorEnergy Infrastructure Trust, Inc. will report Q3 2023 results on November 7, 2023. A conference call will be held to discuss financial results and company developments. Webcast replay will be available on corenergy.reit.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.29%
Tags
earnings
News
CorEnergy Announces Receipt of Continued Listing Standard Notice from NYSE
Rhea-AI Summary
CorEnergy Infrastructure Trust, Inc. received a notice from NYSE for non-compliance with stock price standards. The company plans to resolve the deficiency and regain compliance within six months. It has also announced the sale of MoGas System for $175 million and filed for tariff rate increases on its other pipeline assets.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.7%
Tags
none
-
News
CorEnergy Announces Second Quarter 2023 Results
Rhea-AI Summary
CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) reported total revenue of $35.7 million for Q2 2023. The company generated a net loss of $3.2 million and adjusted EBITDA of $5.8 million. They also announced an agreement to sell MoGas and Omega Pipeline Systems for $175.0 million in cash, pending FTC review. The company filed proposed cost-of-service based tariff increases and amended their credit facility. The 2023 outlook was revised to expect adjusted EBITDA of $24.0 to $26.0 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-9.32%
Tags
earnings
-
News
CorEnergy Schedules Results Release for Second Quarter 2023
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.75%
Tags
earnings
News
CorEnergy Announces Participation in the LD Micro Invitational XIII
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.89%
Tags
none
Stock CORR logo
CorEnergy Infrastructure Trust Inc

OTC:CORR

CORR Rankings

N/A Ranked by Market Cap
N/A Ranked by Stock Gains
N/A Ranked by Dividends

CORR Stock Data

1.63M
14.53M
5.36%
0.53%
1.48%
Miscellaneous Financial Investment Activities
Finance and Insurance
Link
US
Kansas City

About CORR

corridor is an asset manager specializing in financing the acquisition or development of real property infrastructure assets. we provide capital to operating partners through infrastructure reit financing. our strategy is founded on the critical assets contained in infrastructure right-of-ways calls "corridors." our objective is to provide stockholders attractive risk-adjusted total return, with an emphasis on distributions and distribution growth.