CorEnergy: Q4 Earnings Snapshot
KANSAS CITY, Mo. (AP) _ CorEnergy Infrastructure Trust Inc. (CORR) on Wednesday reported a loss in a key measure in its fourth quarter.
The Kansas City, Missouri-based real estate investment trust said it had a funds from operations loss of $1.9 million, or 14 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 a loss of $5 million, or 36 cents per share.
The traded fund, based in Kansas City, Missouri, posted revenue of $5.9 million in the period.
For the year, the company reported funds from operations of $7.1 million. Revenue was reported as $11.3 million.
CorEnergy expects full-year revenue in the range of $130 million to $135 million.
The company’s shares have increased 14% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $7.78, a decrease of 79% in the last 12 months.