CorEnergy: 2Q Earnings Snapshot
KANSAS CITY, Mo. (AP) _ CorEnergy Infrastructure Trust Inc. (CORR) on Wednesday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in Kansas City, Missouri, said it had funds from operations of $12.3 million, or 93 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $5.4 million, or 45 cents per share.
The traded fund, based in Kansas City, Missouri, posted revenue of $22.2 million in the period.
The company’s shares have dropped slightly since the beginning of the year. The stock has risen roughly 6 percent in the last 12 months.