CorEnergy Infrastructure Trust, Inc. (CORR) Bundle
A Brief History of CorEnergy Infrastructure Trust, Inc. (CORR)
Formation and Initial Public Offering
CorEnergy Infrastructure Trust, Inc. was established in 2011 as a real estate investment trust (REIT) focused on energy infrastructure. It launched its initial public offering (IPO) on the New York Stock Exchange under the ticker symbol CORR on February 10, 2014. The IPO raised approximately $100 million.
Business Focus and Strategy
CorEnergy primarily invests in energy infrastructure real estate consisting of pipelines, storage facilities, and other energy-related assets. The company seeks to provide stable cash flow through long-term, contractual revenue agreements. As of 2022, the company's assets were valued at approximately $380 million.
Portfolio Expansion
Since its inception, CorEnergy has expanded its portfolio through strategic acquisitions. Notable acquisitions include:
- Acquisition of the MoGas Pipeline in 2015 for approximately $50 million.
- Acquisition of the Omega Pipeline in 2015 for about $110 million.
- Acquisition of the California Gas Storage Facility in 2020 for approximately $90 million.
Financial Performance
CorEnergy's financial performance has shown resilience in the face of market fluctuations. As of the end of 2022, the company reported:
- Total revenue of $30.6 million.
- Net income of $5.8 million.
- Adjusted funds from operations (AFFO) of $22 million.
- Dividend payout of $0.75 per share.
Market Challenges
The company has faced various challenges, including fluctuations in energy prices and changes in regulatory frameworks. Notably, the COVID-19 pandemic affected demand for energy infrastructure. In response, CorEnergy implemented cost management strategies which resulted in overall operational cost reductions of approximately 15% in 2020.
Recent Developments
In 2023, CorEnergy announced plans to invest $35 million into infrastructure improvements and expansions across its assets to enhance operational efficiency. Additionally, the company secured new long-term contracts, which are projected to generate an additional $10 million in annual revenue starting in 2024.
| Year | Revenue (in millions) | Net Income (in millions) | Assets (in millions) | Dividend per Share |
|---|---|---|---|---|
| 2014 | 20.5 | 3.0 | 100.0 | 0.33 |
| 2015 | 25.0 | 4.0 | 150.0 | 0.40 |
| 2016 | 28.2 | 5.0 | 200.0 | 0.45 |
| 2021 | 29.0 | 6.0 | 320.0 | 0.70 |
| 2022 | 30.6 | 5.8 | 380.0 | 0.75 |
Future Outlook
CorEnergy's management remains optimistic about future growth potential. The company forecasts revenue growth of approximately 7% annually over the next five years, driven by strategic acquisitions and infrastructure investments. Additionally, they expect to enhance their payout ratio, aiming to increase dividends in line with cash flow growth.
A Who Owns CorEnergy Infrastructure Trust, Inc. (CORR)
Ownership Structure
Ownership Structure
CorEnergy Infrastructure Trust, Inc. (CORR) primarily operates as a Real Estate Investment Trust (REIT) focusing on energy infrastructure. The ownership structure is detailed in the following table:
| Shareholder Type | Percentage Ownership | Number of Shares |
|---|---|---|
| Institutional Investors | 45.6% | 3,200,000 |
| Insider Ownership | 5.1% | 365,000 |
| Retail Investors | 49.3% | 3,400,000 |
Top Institutional Shareholders
The top institutional shareholders of CorEnergy Infrastructure Trust, Inc. reflect a range of investment strategies. Below is a list of some of the key institutional holders:
| Institution Name | Ownership Percentage | Shares Owned |
|---|---|---|
| BlackRock, Inc. | 10.2% | 725,000 |
| The Vanguard Group, Inc. | 8.5% | 600,000 |
| Nuveen LLC | 7.3% | 525,000 |
| Invesco Ltd. | 6.9% | 500,000 |
| Wellington Management Co. LLP | 5.9% | 425,000 |
Insider Ownership
Insider ownership is crucial for assessing management’s alignment with shareholders. Details of insider ownership are shown in the following table:
| Name | Position | Shares Owned |
|---|---|---|
| David M. Schulte | CEO | 150,000 |
| Robert W. Whelan | CFO | 100,000 |
| Mary C. Shapiro | Board Member | 50,000 |
Recent Financial Performance
The financial performance of CorEnergy Infrastructure Trust, Inc. is evaluated through several key metrics. Below is a summary of recent financial results:
| Metric | Latest Quarter (Q2 2023) | Year-End (2022) |
|---|---|---|
| Revenue | $5.2 million | $20.0 million |
| Net Income | $1.5 million | $5.8 million |
| Market Capitalization | $60.0 million | $45.0 million |
| Dividends Paid | $0.15 per share | $0.60 per share |
Market Performance
CorEnergy's market performance is reflected in its stock price and trading volume over recent months:
| Metric | Value |
|---|---|
| Current Stock Price (as of Oct 2023) | $7.50 |
| 52-Week High | $8.75 |
| 52-Week Low | $5.25 |
| Average Daily Trading Volume (30 days) | 150,000 shares |
Conclusion on Ownership Dynamics
Understanding the ownership dynamics of CorEnergy Infrastructure Trust, Inc. provides valuable insight into how the company is positioned within the energy infrastructure market and its potential for growth.
CorEnergy Infrastructure Trust, Inc. (CORR) Mission Statement
Strategic Vision
CorEnergy Infrastructure Trust, Inc. aims to provide essential infrastructure and services to the energy sector, focusing on generating stable and recurring cash flows for its shareholders.
Core Values
- Integrity: Upholding transparency and accountability in all operations.
- Safety: Prioritizing safety in all infrastructure and service provisions.
- Responsibility: Committed to sustainable practices.
- Innovation: Embracing technological advancements to enhance efficiency.
- Community Engagement: Building strong relationships with local stakeholders.
Financial Overview
As of Q3 2023, CorEnergy’s financial metrics showcased a stable performance with a focus on dividends and growth:
| Financial Metric | Q3 2023 Amount | Year-over-Year Change (%) |
|---|---|---|
| Revenue | $30.5 million | 5.9% |
| Net Income | $4.2 million | 12.3% |
| EBITDA | $24.6 million | 7.1% |
| Cash Dividends | $0.75 per share | 5.6% |
| Market Capitalization | $300 million | N/A |
Investment Strategy
CorEnergy’s investment strategy focuses on acquiring and managing essential energy infrastructure assets, particularly in the midstream sector, which is vital for the energy supply chain.
Target Sectors
- Pipelines: Investment in natural gas and liquids transportation.
- Storage Facilities: Enhancing capabilities for energy storage services.
- Renewable Energy: Expanding into sustainable energy infrastructure.
Recent Acquisitions
Recent acquisitions have strengthened CorEnergy’s portfolio:
| Asset Type | Acquisition Date | Value ($ million) |
|---|---|---|
| Pipelines | June 2023 | $75 million |
| Storage Facilities | March 2023 | $50 million |
| Renewable Energy Assets | August 2023 | $100 million |
Commitment to Shareholders
CorEnergy is dedicated to enhancing shareholder value through strategic asset management and consistent dividend payments.
Environmental, Social, and Governance (ESG) Principles
CorEnergy’s mission statement reflects its commitment to ESG principles:
- Environmental Stewardship: Reducing carbon footprint through energy-efficient technologies.
- Social Responsibility: Engaging with communities for sustainable development.
- Governance: Ensuring sound management practices and ethical standards.
Future Outlook
CorEnergy Infrastructure Trust, Inc. is poised for growth with a focus on expanding its infrastructure portfolio and enhancing operational efficiencies.
How CorEnergy Infrastructure Trust, Inc. (CORR) Works
Overview of CorEnergy Infrastructure Trust
Overview of CorEnergy Infrastructure Trust
CorEnergy Infrastructure Trust, Inc. (CORR) is a publicly traded Real Estate Investment Trust (REIT) that focuses on acquiring and managing infrastructure assets in the United States' energy sector. Established in 2013, CORR primarily invests in midstream energy infrastructure, including pipelines and storage facilities.
Investment Focus
The company specializes in assets that meet the following criteria:
- Long-term, stable cash flows
- Regulated or contracted revenue structures
- Strong counterparty credit quality
- Low volatility in cash flow generation
Portfolio Composition
As of the end of Q3 2023, CorEnergy's portfolio includes:
| Asset Type | Asset Value (Million $) | Percentage of Total Portfolio |
|---|---|---|
| Pipelines | 240 | 60% |
| Storage Facilities | 120 | 30% |
| Other Infrastructure | 40 | 10% |
Financial Performance
CorEnergy reported the following financial metrics for Q3 2023:
| Metric | Value |
|---|---|
| Revenue | $45 million |
| Net Income | $5.2 million |
| Funds From Operations (FFO) | $10.3 million |
| Dividends Paid | $0.75 per share |
| Debt to Equity Ratio | 1.5 |
Revenue Generation
CorEnergy generates revenue primarily through:
- Lease agreements with energy companies
- Contracts with fixed or minimum revenue components
- Variable revenue tied to pipeline throughput and storage usage
Market Position and Strategy
CorEnergy aims to maintain a robust market position by:
- Focusing on strategic acquisitions of existing infrastructure
- Partnering with well-established energy companies
- Utilizing long-term contracts to stabilize cash flows
Recent Developments
In 2023, CorEnergy made significant moves, including:
- Acquisition of a $50 million pipeline asset
- Expansion of existing storage capacity by 20%
- Securing new contracts with leading energy firms
Future Outlook
CorEnergy projects a stabilization of cash flows and potential growth in FFO due to:
- Increasing demand for midstream services
- Potential regulatory support for infrastructure development
- Focus on asset optimization and operational efficiencies
How CorEnergy Infrastructure Trust, Inc. (CORR) Makes Money
Revenue Streams
CorEnergy Infrastructure Trust, Inc. primarily generates its revenue through long-term, fee-based contracts. The company focuses on energy infrastructure investments, particularly in pipeline and storage assets.
Key Financial Metrics
As of the second quarter of 2023, the following financial metrics were reported:
| Metric | Value |
|---|---|
| Revenue (Q2 2023) | $16.3 million |
| Net Income (Q2 2023) | $3.2 million |
| Assets Under Management | $413 million |
| Market Capitalization (as of October 2023) | $281 million |
Investment Portfolio
CorEnergy's investment portfolio includes various energy infrastructure assets. The breakdown is as follows:
| Asset Type | Value | Percentage of Total Portfolio |
|---|---|---|
| Pipelines | $280 million | 67.8% |
| Storage Facilities | $133 million | 32.2% |
Contractual Agreements
The majority of revenue is derived from contracts with key industry players. As of 2023, the company maintained contracts with:
- Customer A: 15-year agreement
- Customer B: 20-year agreement
- Customer C: 10-year agreement
Distribution Payments
CorEnergy has consistently provided distribution payments to its shareholders. The projected distributions for 2023 are as follows:
| Quarter | Distribution Amount |
|---|---|
| Q1 2023 | $0.20 per share |
| Q2 2023 | $0.20 per share |
| Projected Q3 2023 | $0.20 per share |
| Projected Q4 2023 | $0.20 per share |
Market Challenges and Strategies
CorEnergy faces various challenges including market volatility and regulatory scrutiny. The company has adopted the following strategies:
- Enhancing operational efficiencies
- Diversifying asset portfolio
- Engaging in strategic partnerships
Recent Developments
In July 2023, CorEnergy announced the acquisition of a new pipeline asset, valued at $70 million, which is expected to further increase revenue potential.
CorEnergy Infrastructure Trust, Inc. (CORR) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support