CorEnergy Infrastructure Trust, Inc. Stock Price, News & Analysis

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.