Company Quick10K Filing
Corenergy Infrastructure Trust
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 13 $509
10-Q 2019-10-31 Quarter: 2019-09-30
10-Q 2019-08-01 Quarter: 2019-06-30
10-Q 2019-05-02 Quarter: 2019-03-31
10-K 2019-02-28 Annual: 2018-12-31
10-Q 2018-11-01 Quarter: 2018-09-30
10-Q 2018-08-02 Quarter: 2018-06-30
10-Q 2018-05-02 Quarter: 2018-03-31
10-K 2018-02-28 Annual: 2017-12-31
10-Q 2017-11-01 Quarter: 2017-09-30
10-Q 2017-08-02 Quarter: 2017-06-30
10-Q 2017-05-03 Quarter: 2017-03-31
10-K 2017-03-02 Annual: 2016-12-31
10-Q 2016-11-04 Quarter: 2016-09-30
10-Q 2016-08-09 Quarter: 2016-06-30
10-Q 2016-05-10 Quarter: 2016-03-31
10-K 2016-03-14 Annual: 2015-12-31
10-Q 2015-11-10 Quarter: 2015-09-30
10-Q 2015-08-10 Quarter: 2015-06-30
10-Q 2015-05-11 Quarter: 2015-03-31
10-K 2015-03-16 Annual: 2014-12-31
10-Q 2014-11-07 Quarter: 2014-09-30
10-Q 2014-08-11 Quarter: 2014-06-30
10-Q 2014-05-12 Quarter: 2014-03-31
10-K 2014-03-18 Annual: 2013-12-31
10-Q 2013-11-12 Quarter: 2013-09-30
10-Q 2013-08-09 Quarter: 2013-06-30
10-K 2013-02-13 Annual: 2012-11-30
10-Q 2012-10-05 Quarter: 2012-08-31
10-Q 2012-07-05 Quarter: 2012-05-31
10-Q 2012-04-09 Quarter: 2012-02-29
10-K 2012-02-13 Annual: 2011-11-30
10-Q 2011-10-13 Quarter: 2011-08-31
10-Q 2011-07-13 Quarter: 2011-05-31
10-Q 2011-04-07 Quarter: 2011-02-28
10-K 2011-01-26 Annual: 2010-11-30
10-Q 2010-10-07 Quarter: 2010-08-31
10-Q 2010-07-08 Quarter: 2010-05-31
10-Q 2010-04-08 Quarter: 2010-02-28
10-K 2010-02-16 Annual: 2009-11-30
8-K 2020-02-19 Regulation FD, Exhibits
8-K 2020-02-19 Regulation FD, Exhibits
8-K 2020-02-19
8-K 2020-01-24 Other Events, Exhibits
8-K 2020-01-22 Regulation FD, Exhibits
8-K 2019-12-20 Officers
8-K 2019-10-30 Earnings, Exhibits
8-K 2019-10-23
8-K 2019-08-22 Other Events, Exhibits
8-K 2019-08-15 Sale of Shares
8-K 2019-08-12 Regulation FD, Exhibits
8-K 2019-08-12 Enter Agreement, Off-BS Arrangement, Sale of Shares, Regulation FD
8-K 2019-08-08 Regulation FD, Exhibits
8-K 2019-08-07 Regulation FD, Exhibits
8-K 2019-08-07 Regulation FD, Exhibits
8-K 2019-07-31 Earnings, Exhibits
8-K 2019-07-24 Regulation FD, Exhibits
8-K 2019-05-29 Regulation FD, Exhibits
8-K 2019-05-23 Shareholder Vote
8-K 2019-05-01 Earnings, Exhibits
8-K 2019-04-24 Enter Agreement, Regulation FD
8-K 2019-04-02 Regulation FD, Exhibits
8-K 2019-02-27 Earnings, Exhibits
8-K 2019-02-21 Regulation FD, Exhibits
8-K 2019-02-20 Regulation FD, Exhibits
8-K 2019-01-24 Other Events, Exhibits
8-K 2019-01-23 Regulation FD, Exhibits
8-K 2019-01-16 Sale of Shares
8-K 2018-12-28 Enter Agreement, Leave Agreement, M&A, Exhibits
8-K 2018-12-21 Other Events, Exhibits
8-K 2018-12-17 Officers, Regulation FD, Exhibits
8-K 2018-10-31 Earnings, Exhibits
8-K 2018-10-24 Regulation FD, Exhibits
8-K 2018-08-21 Regulation FD, Exhibits
8-K 2018-08-14 Regulation FD, Exhibits
8-K 2018-08-01 Earnings, Exhibits
8-K 2018-07-25 Regulation FD, Exhibits
8-K 2018-06-28 Officers
8-K 2018-05-31 Regulation FD, Exhibits
8-K 2018-05-31 Other Events, Exhibits
8-K 2018-05-18 Shareholder Vote
8-K 2018-05-01 Earnings, Exhibits
8-K 2018-04-25 Regulation FD, Exhibits
8-K 2018-03-29 Regulation FD, Exhibits
8-K 2018-02-28 Earnings, Exhibits
8-K 2018-02-21 Regulation FD, Exhibits
8-K 2018-01-24 Other Events, Exhibits
8-K 2018-01-24 Regulation FD, Exhibits
8-K 2018-01-04 Enter Agreement, Off-BS Arrangement

Corenergy Infrastructure Trust Financials

CORR Metrics, Comps, Filings

Annual | Quarterly

Business

CorEnergy primarily owns and seeks to own assets in the U.S. energy sector that perform utility-like functions, such as pipelines, storage terminals, rail terminals and gas and electric transmission and distribution assets. Our objective is to generate long-term contracted revenue from operators of our assets, primarily under triple-net participating leases without direct commodity price exposure. We believe our leadership team's energy and utility expertise provides CorEnergy with a competitive advantage to acquire, own and lease U.S. energy infrastructure assets in a tax-efficient, transparent and investor-friendly REIT. Our leadership team also utilizes a disciplined investment philosophy developed through an average of over 25 years of relevant industry experience.

We expect our leases to provide us with contracted base rent, plus participating rent based upon asset-specific criteria. The energy industry commonly employs contracts with participating features, and we provide exposure to both the risk and opportunity of utilization of our assets, which we believe is a hallmark of infrastructure assets of all types. Our participating triple-net leases require the operator to pay all expenses of the business including maintaining our assets in good working order.

The majority of our assets leased to tenants under triple-net leases are dependent upon the tenants' exploitation of hydrocarbon reserves in the fields where our assets are located. These reserves are depleted over time, and therefore, may economically diminish the value of our assets over the period that the underlying reserves are exploited. Accordingly, we expect the contracted base rents under these leases, including fair market renewal rent expectations, to provide for a return-on-capital, as well as a return of our invested capital, over the life of the asset. The portion of rents we believe to constitute a return of our invested capital are utilized for debt repayment and/or are reserved for capital reinvestment activities in order to maintain our long-term earnings and dividend paying capacity. The return-on-capital is that portion of rents which are available for distribution to our stockholders through dividend payouts.


Valuation ($MM)

Market Cap, Enterprise Value

Balance Sheet ($MM)

Assets, Stockholders' Equity

Income Statement ($MM Annual)

Revenue, Gross Profit, Net Income

Cash Flow ($MM Annual)

Operating, Investing, Financing

Comps ($'000 TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Preferred Apartment Communities (APTS) 660,161 0% 10.1 1% 4,980,518 3,196,348 324,364 0 32,167 291,404 2,944,844
Ready Capital (RC) 655,805 4.2 2% 3,840,323 3,092,917 0 0 81,010 214,332 892,152
Hersha Hospitality Trust (HT) 649,906 0% 8.4 0% 2,156,474 1,241,555 523,906 0 3,353 155,683 1,300,918
Capstead Mortgage (CMO) 638,196 2.3 -0% 11,927,103 10,904,715 0 0 -53,542 199,507 458,718
New Senior Investment Group (SNR) 580,401 0% 36.8 -6% 2,214,917 1,940,542 469,867 0 -127,704 64,982 2,393,801
One Liberty Properties (OLP) 555,988 0% 8.6 2% 797,662 503,051 81,714 0 18,934 62,402 537,908
UMH Properties (UMH) 538,065 90% 17.5 -2% 915,287 385,299 139,210 125,542 -22,293 30,285 528,769
Western Asset Mortgage Capital (WMC) 537,566 1.9 1% 5,533,508 4,973,882 0 0 41,717 196,334 368,666
Whitestone REIT (WSR) 512,705 14% 15.7 2% 1,013,188 674,713 123,769 17,573 22,754 72,022 1,130,822
Corenergy Infrastructure Trust (CORR) 509,065 92% 7.1 7% 600,737 126,065 88,692 81,838 41,885 78,513 555,558
City Office REIT (CIO) 490,831 0% 14.8 -1% 1,149,594 772,796 146,005 0 -7,444 79,516 1,174,958
Pennsylvania REIT (PEI) 480,016 60% 10.6 -4% 2,374,933 1,912,083 350,842 211,484 -99,813 94,691 1,001,127
Jernigan Capital (JCAP) 476,087 0% 7.1 9% 703,292 116,437 39,473 0 65,203 71,441 506,006
Great Ajax (AJX) 425,164 3.6 2% 1,531,230 1,185,644 0 0 35,838 101,633 369,414
Ares Commercial Real Estate (ACRE) 423,504 0% 28.3 2% 1,671,447 1,245,690 50,357 0 38,273 42,425 1,201,589
Dynex Capital (DX) 406,428 -2.2 -4% 5,868,885 5,270,247 0 0 -224,135 -133,242 295,078
Global Medical REIT (GMRE) 392,618 0% 8.8 2% 750,722 389,119 60,459 0 16,052 48,711 426,221
Anworth Mortgage Asset (ANH) 371,048 16.6 -2% 4,480,683 3,915,616 0 0 -86,238 44,377 738,247
Spirit Mta REIT (SMTA) 359,091 0% -22.7 -13% 2,012,651 2,037,210 231,097 0 -268,474 -97,333 2,213,149
MedEquities Realty Trust (MRT) 349,614 0% 15.7 1% 643,159 295,021 57,230 0 5,455 39,285 616,756

Balance Sheet ($'000)2012-11-302014-12-312015-12-312016-12-312017-12-312018-12-31
Cash14,333005,93315,78769,287
Accounts Receivable1,5703,60410,43119,416
Inventory
PP&E3,589122,820119,630116,413113,159109,882
Assets111,432345,940137,600601,329142,200137,000
Accounts Payable
Long-Term Debt200,633152,777151,430
Liabilities12,57635,490158,061194,861171,632169,872
Stockholders' Equity98,856310,450418,034406,468461,786
Income Statement ($'000)2012-11-302014-12-312015-12-312016-12-312017-12-312018-12-31
Revenue10,5749,28311,53232,85688,74989,232
Cost of Revenue7,211
Gross Profit82,021
R&D
SG&A1,4272,23610,78613,043
Tax7,22919331502,345-2,419
Net Income12,3497,01413,93730,99134,33743,712
Cash Flow ($'000)2012-11-302014-12-312015-12-312016-12-312017-12-312018-12-31
Cash Operating9,648-2,07818,060-3,14156,79248,623
Cash Investing9,013-168,011-227,9573,6257,59556,816
Cash Financing-7,122157,039216,386-4,640-56,495-51,939