September 26, 2016 10:35 AM ET

Equity Real Estate Investment Trusts (REITs)

Company Overview of CorEnergy Infrastructure Trust, Inc.

Company Overview

CorEnergy Infrastructure Trust, Inc. is an open-ended equity trust launched and managed by Corridor InfraTrust Management, LLC. The trust primarily owns midstream and downstream U.S. energy infrastructure assets subject to long-term triple net participating leases with energy companies. The assets include pipelines, storage tanks, transmission lines and gathering systems. It was previously known as Tortoise Capital Resources Corp. CorEnergy Infrastructure Trust, Inc. was formed on September 8, 2005 and is domiciled in the United States.

1100 Walnut Street

Suite 3350

Kansas City, MO 64106

United States

Founded in 2005

21 Employees

Phone:

816-875-3705

Fax:

816-875-5875

Key Executives for CorEnergy Infrastructure Trust, Inc.

Chief Executive Officer, President, Director, Chairman of Investment Committee and Member of Executive Committee
Age: 55
Senior Vice President
Age: 55
Senior Vice President
Age: 55
Chief Accounting Officer, Treasurer and Secretary
Age: 55
Assistant Secretary
Compensation as of Fiscal Year 2016.

CorEnergy Infrastructure Trust, Inc. Key Developments

CorEnergy Infrastructure Trust, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016

CorEnergy Infrastructure Trust, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported total revenue of $22,060,752 against $12,681,670 reported last year. Operating income was $11,802,903 against $5,438,372 reported last year. Income before income taxes was $9,675,925 against $4,548,279 reported last year. Net Income attributable to the company shareholders was $7,917,418 or $0.66 diluted per share against $3,148,029 or $0.32 diluted per share reported last year. Adjusted EBITDA was $17,161,582 against $8,181,237 reported last year. Adjusted funds from operations was $13,320,271 or $1.01 per diluted share compared to $6,508,064 or $0.66 per diluted share a year ago. For the six months, the company reported total revenue of $44,318,619 against $26,669,553 reported last year. Operating income was $19,466,587 against $10,362,606 reported last year. Income before income taxes was $12,160,421 against $9,365,447 reported last year. Net Income attributable to the company shareholders was $10,271,430 or $0.86 diluted per share against $6,497,157 or $0.68 diluted per share reported last year. Net cash provided by operating activities was $26,014,590 against $14,610,279 reported last year. Purchases of property and equipment, net were $372,230 against $19,820 reported last year. Adjusted EBITDA was $34,082,479 against $16,433,265 reported last year. Adjusted funds from operations was $26,103,705 or $1.98 per diluted share compared to $13,492,149 or $1.41 per diluted share a year ago.

CorEnergy Won't Seek More M&A Until Tenants' Issues Resolved

CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) said it won't fund any new acquisitions until the bankruptcy cases for two major tenants reach certain milestones. It means they're likely benched until 2017.

CorEnergy Infrastructure Trust, Inc. Declares Common and Preferred Stock Dividend for the Second Quarter Ended June 30, 2016, Payable on August 31, 2016

CorEnergy Infrastructure Trust, Inc. announced that its board of directors declared a second quarter 2016 dividend of $0.75 per share (or $3.00 per share annualized) for its common stock. The dividend will be payable on August 31, 2016, to shareholders of record on August 17, 2016. The board of directors also declared a cash dividend of $0.4609375 per depositary share for the company’s 7.375% series a cumulative redeemable preferred stock for the second quarter, ended June 30, 2016. The preferred stock dividend, which equates to an annual dividend payment of $1.84375 per depositary share, will be payable on August 31, 2016, to shareholders of record on August 17, 2016.

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