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

Good value with moderate growth potential.

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 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-1.5%

CORR

2.4%

US REITs

0.9%

US Market


1 Year Return

28.7%

CORR

15.7%

US REITs

16.8%

US Market

Return vs Industry: CORR exceeded the US REITs industry which returned 15.7% over the past year.

Return vs Market: CORR exceeded the US Market which returned 16.8% over the past year.


Shareholder returns

CORRIndustryMarket
7 Day-1.5%2.4%0.9%
30 Day-6.6%-2.0%4.5%
90 Day-1.9%1.7%6.2%
1 Year38.2%28.7%20.6%15.7%19.4%16.8%
3 Year73.0%36.5%40.0%22.5%47.5%38.0%
5 Year103.8%27.2%57.1%24.4%62.0%44.1%

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?

45.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CORR ($44.19) is trading below our estimate of fair value ($80.79)

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


Price To Earnings Ratio

PE vs Industry: CORR is poor value based on its PE Ratio (102.2x) compared to the REITs industry average (38.7x).

PE vs Market: CORR is poor value based on its PE Ratio (102.2x) compared to the US market (18.2x).


Price to Earnings Growth Ratio

PEG Ratio: CORR is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: CORR is good value based on its PB Ratio (1.7x) compared to the US REITs industry average (2x).


Next Steps

Future Growth

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

168.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CORR's forecast earnings growth (168.8% per year) is above the savings rate (2.7%).

Earnings vs Market: CORR's earnings (168.8% per year) are forecast to grow faster than the US market (14.4% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: CORR's revenue is expected to decline over the next 3 years (-3.3% per year).

High Growth Revenue: CORR's revenue is forecast to decline over the next 3 years (-3.3% 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?

23.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CORR has large one-off items impacting its financial results.

Growing Profit Margin: CORR's current net profit margins (6.3%) are lower than last year (23%).


Past Earnings Growth Analysis

Earnings Trend: CORR's earnings have grown significantly by 23% per year over the past 5 years.

Accelerating Growth: CORR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CORR had negative earnings growth (-73.2%) over the past year, making it difficult to compare to the REITs industry average (8.7%).


Return on Equity

High ROE: CORR's Return on Equity (3.1%) is considered low.


Return on Assets


Return on Capital Employed


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 not covered by short term assets (assets are 1x debt).


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?

6.79%

Current Dividend Yield


Dividend Yield vs Market

company6.8%marketbottom25%1.4%markettop25%3.7%industryaverage3.7%forecastin3Years6.8%

Current dividend yield vs market & industry

Notable Dividend: CORR's dividend (6.79%) is higher than the bottom 25% of dividend payers in the US market (1.43%).

High Dividend: CORR's dividend (6.79%) is in the top 25% of dividend payers in the US market (3.68%)


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 fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (288.9%), CORR's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of CorEnergy Infrastructure Trust's salary, the management and board of directors tenure and is there insider trading?

5.6yrs

Average management tenure


CEO

Dave Schulte (58yo)

14.8yrs

Tenure

0

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 ...


Management Age and Tenure

5.6yrs

Average Tenure

58yo

Average Age

Experienced Management: CORR's management team is seasoned and experienced (5.6 years average tenure).


Board Age and Tenure

2.2yrs

Average Tenure

61yo

Average Age

Experienced Board: CORR's board of directors are not considered experienced ( 2.2 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$27,75214 Jan 19
Jeffrey Fulmer
EntityIndividual
Role
Senior Key Executive
Executive Vice President
Shares800
Max PriceUS$34.69
BuyUS$25,23307 Jan 19
David Schulte
EntityIndividual
Role
Chief Executive Officer
CEO, President & Chairman
Shares750
Max PriceUS$34.25

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 6%.


Management Team

  • Dave Schulte (58yo)

    CEO, President & Chairman

    • Tenure: 14.8yrs
  • Jeff Teeven (48yo)

    Vice President of Finance

    • Tenure: 0yrs
  • Mike Jonagan (58yo)

    Senior Vice President

    • Tenure: 5.6yrs
  • Rick Kreul (63yo)

    President of Mowood LLC & President of Mogas Pipeline LLC

    • Tenure: 6.7yrs
  • Jeff Fulmer (58yo)

    Executive Vice President

    • Tenure: 5.6yrs
  • Becky Sandring (59yo)

    Executive VP

    • Tenure: 1.3yrs
  • Rachel Stroer

    Assistant Secretary

    • Tenure: 0yrs
  • Natalie Hill

    Assistant Corporate Secretary and Paralegal

    • Tenure: 0yrs

Board Members

  • Dave Schulte (58yo)

    CEO, President & Chairman

    • Tenure: 14.8yrs
  • Rick Green (63yo)

    Chairman Emeritus

    • Tenure: 0.8yrs
  • Barry Brady (73yo)

    Lead Independent Director

    • Tenure: 1.8yrs
    • Compensation: US$58.00k
  • Conrad Ciccotello (59yo)

    Independent Director

    • Tenure: 14.8yrs
    • Compensation: US$60.00k
  • Todd Banks (56yo)

    Independent Director

    • Tenure: 2.5yrs
    • Compensation: US$53.00k
  • Cathy Lewis (67yo)

    Independent Director

    • Tenure: 6.3yrs
    • Compensation: US$60.00k

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$598.105m
  • Shares outstanding: 13.53m
  • 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 distributio ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/21 00:05
End of Day Share Price2019/11/20 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.