NYSE:CORR

Stock Analysis Report

CorEnergy Infrastructure Trust

Executive Summary

CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA), is a real estate investment trust (REIT) that owns critical energy assets, such as pipelines, storage terminals, and transmission and distribution assets.


Snowflake Analysis

Average dividend payer and fair value.

Share Price & News

How has CorEnergy Infrastructure Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CORR's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

3.8%

CORR

20.4%

US REITs

12.5%

US Market


1 Year Return

-45.9%

CORR

-19.8%

US REITs

-12.7%

US Market

Return vs Industry: CORR underperformed the US REITs industry which returned -19.8% over the past year.

Return vs Market: CORR underperformed the US Market which returned -12.7% over the past year.


Shareholder returns

CORRIndustryMarket
7 Day3.8%20.4%12.5%
30 Day-42.4%-19.3%-14.7%
90 Day-55.0%-24.5%-21.5%
1 Year-42.1%-45.9%-16.8%-19.8%-10.9%-12.7%
3 Year-25.4%-40.9%-0.8%-12.9%12.6%5.4%
5 Year-7.9%-42.4%12.1%-10.8%31.9%17.5%

Price Volatility Vs. Market

How volatile is CorEnergy Infrastructure Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is CorEnergy Infrastructure Trust undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CORR ($20.12) is trading below our estimate of fair value ($84.37)

Significantly Below Fair Value: CORR is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CORR is unprofitable, so we can't compare its PE Ratio to the REITs industry average.

PE vs Market: CORR is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CORR's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CORR is good value based on its PB Ratio (0.8x) compared to the US REITs industry average (1.3x).


Next Steps

Future Growth

How is CorEnergy Infrastructure Trust forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

82.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CORR is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.7%).

Earnings vs Market: CORR is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: CORR's is expected to become profitable in the next 3 years.

Revenue vs Market: CORR's revenue is expected to decline over the next 3 years (-4.1% per year).

High Growth Revenue: CORR's revenue is forecast to decline over the next 3 years (-4.1% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CORR's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has CorEnergy Infrastructure Trust performed over the past 5 years?

13.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CORR is currently unprofitable.

Growing Profit Margin: CORR is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CORR is unprofitable, but has reduced losses over the past 5 years at a rate of 13.4% per year.

Accelerating Growth: Unable to compare CORR's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CORR is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (5%).


Return on Equity

High ROE: CORR has a negative Return on Equity (0.86%), as it is currently unprofitable.


Next Steps

Financial Health

How is CorEnergy Infrastructure Trust's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: CORR has a high level of physical assets or inventory.

Debt Coverage by Assets: CORR's debt is covered by short term assets (assets are 1x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: CORR has been profitable on average in the past, therefore cash runway is not a concern.

Forecast Cash Runway: CORR has been profitable on average in the past, therefore cash runway is not a concern.


Financial Institutions Analysis

Asset Level: CORR's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if CORR has a sufficient allowance for bad loans.

Low Risk Liabilities: CORR reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if CORR has an acceptable proportion of non-loan assets held.

Low Risk Deposits: CORR has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if CORR has an appropriate level of bad loans.


Next Steps

Dividend

What is CorEnergy Infrastructure Trust's current dividend yield, its reliability and sustainability?

14.91%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CORR's dividend (14.91%) is higher than the bottom 25% of dividend payers in the US market (1.98%).

High Dividend: CORR's dividend (14.91%) is in the top 25% of dividend payers in the US market (5.49%)


Stability and Growth of Payments

Stable Dividend: CORR's dividend payments have been volatile in the past 10 years.

Growing Dividend: CORR's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (286.6%), CORR's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CORR's dividends in 3 years are forecast to be thoroughly covered by earnings (6% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

6.5yrs

Average management tenure


CEO

Dave Schulte (58yo)

15.17s

Tenure

Mr. David John Schulte, also known as Dave, CFA serves as Chairman of the Board of CorEnergy Infrastructure Trust, Inc. since January 1, 2019. He served as a Managing Director at Corridor InfraTrust Manage ...


Leadership Team

NamePositionTenureCompensationOwnership
David Schulte
CEO, President & Chairman15.17yrsno data0.20% $554.7k
Jeffrey Teeven
Vice President of Financeno datano datano data
Kristin Leitze
Chief Accounting Officer & Controller0.25yrno data0.0027% $7.6k
Jeffrey Fulmer
Executive Vice President5.92yrsno data0.050% $138.1k
Michael Jonagan
Senior Vice President5.92yrsno datano data
Rebecca Sandring
Executive VP8.25yrsno data0.039% $108.1k
Richard Kreul
President of Mowood LLC & President of Mogas Pipeline LLC7yrsno datano data
Rachel Stroer
Assistant Secretaryno datano datano data
Natalie Hill
Assistant Corporate Secretary and Paralegalno datano datano data

6.5yrs

Average Tenure

58yo

Average Age

Experienced Management: CORR's management team is seasoned and experienced (6.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
David Schulte
CEO, President & Chairman15.17yrsno data0.20% $554.7k
Richard Green
Chairman Emeritus1.17yrsno datano data
Barrett Brady
Lead Independent Director2.17yrsUS$58.00k0.036% $97.6k
Conrad Ciccotello
Independent Director15.17yrsUS$60.00k0.041% $111.4k
Todd Banks
Independent Director2.83yrsUS$53.00k0.0050% $13.8k
Catherine Lewis
Independent Director6.67yrsUS$60.00k0.032% $87.5k

2.5yrs

Average Tenure

61yo

Average Age

Experienced Board: CORR's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: CORR insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 9.3%.


Top Shareholders

Company Information

CorEnergy Infrastructure Trust, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: CorEnergy Infrastructure Trust, Inc.
  • Ticker: CORR
  • Exchange: NYSE
  • Founded: 2005
  • Industry: Specialized REITs
  • Sector: Real Estate
  • Market Cap: US$274.669m
  • Shares outstanding: 13.65m
  • Website: https://corenergy.reit

Number of Employees


Location

  • CorEnergy Infrastructure Trust, Inc.
  • 1100 Walnut
  • Suite 3350
  • Kansas City
  • Missouri
  • 64106
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CORRNYSE (New York Stock Exchange)YesCommon StockUSUSDFeb 2007
CORR.PRANYSE (New York Stock Exchange)DEP SHS REPSTGUSUSDJan 2015

Biography

CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA), is a real estate investment trust (REIT) that owns critical energy assets, such as pipelines, storage terminals, and transmission and distribution assets. We receive long-term contracted revenue from operators of our assets, primarily under triple-net participating leases. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/30 02:41
End of Day Share Price2020/03/27 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.