KANSAS CITY, Mo. – KANSAS CITY, Mo. (AP) _ CorEnergy Infrastructure Trust Inc. (CORR) on Tuesday reported a key measure of profitability in its first quarter. The results fell short of Wall Street expectations.
The Kansas City, Missouri-based real estate investment trust said it had funds from operations of $12 million, or 91 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of $1.11 per share.
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 $5.3 million, or 45 cents per share.
The traded fund, based in Kansas City, Missouri, posted revenue of $21.5 million in the period.
The company's shares have increased 2 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $38.98, an increase of 5 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on CORR at https://www.zacks.com/ap/CORR
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