Wells Fargo Starts CorEnergy Infrastructure Trust (CORR) at Outperform

Wells Fargo initiates coverage on CorEnergy Infrastructure Trust (NYSE: CORR) with an Outperform rating and a price target of $8-$10.

Analyst Michael Blum said "CorEnergy Infrastructure Trust, Inc. (CORR) offers investors a robust and highly secure yield of 6.9% with modest dividend growth potential in our view tied to its ability to complete future acquisitions. We think the company is well positioned with a first mover advantage as the very first energy focused real estate investment trust (REIT) in the marketplace. We forecast a five-year dividend CAGR of 4% which assumes $50MM of annual acquisitions at an average EBITDA multiple of 12.0x."

For an analyst ratings summary and ratings history on CorEnergy Infrastructure Trust click here. For more ratings news on CorEnergy Infrastructure Trust click here.

Shares of CorEnergy Infrastructure Trust closed at $7.25 yesterday.

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