DAVID SCHULTE, CEO of CorEnergy Infrastructure, bought 2,750 shares of CorEnergy (Stock Symbol: CORR) at $6.53 per share for a total amount of $18 thousand on January 27th, 2014.
CorEnergy Infrastructure is located in Laewood, Kansas. On January 24th 2014, CorEnergy Infrastructure Trust, Inc. (“CorEnergy”) (CORR) announced the tax characterization of the 2013 distributions paid to stockholders.
On January 22nd 2014, CorEnergy Infrastructure Trust, Inc. announced that it has closed its previously announced acquisition of a petroleum products terminal facility (the “Portland Terminal Facility”) for $40 million in cash. The terminal will be leased to a subsidiary of Arc Logistics Partners LP (“Arc Logistics”) (ARCX) under a long-term triple net lease. Located in Portland, Oregon, the terminal is strategically positioned to support the storage, throughput and transloading needs of the region. On November 12th 2014, CorEnergy Infrastructure Trust, Inc. (CORR) (“the Company”) today announced financial results for the third quarter ended September 30, 2013. It declared third quarter dividend of $0.125 per share, paid on October 4, 2013 It reiterated expectation for annualized dividend payments of no less than $0.50 per share. It had a successful IPO from legacy private company, Lightfoot’s Arc Logistics Partners LP (ARCX). According to Capital IQ, CorEnergy Infrastructure Trust has a market cap of $161.8 million, an enterprise value of $213 million, and trailing 12 month revenues of $11 million. CorEnergy Infrastructure Trust, Inc., formerly Tortoise Capital Resources Corporation, focuses on acquiring midstream and downstream United States energy infrastructure assets and concurrently enter into long-term triple net leases with energy companies. Its focus includes pipelines, storage tanks, transmission lines and gathering systems. The Company focuses on acquiring infrastructure assets that qualify as real property for real estate investment trust (REIT) purposes. In December 2012, CorEnergy Infrastructure Trust, Inc acquired a Liquids Gathering System (LGS) from Ultra Petroleum Corp. The Company is managed by Corridor InfraTrust Management, LLC (Corridor). In January 2014, Corenergy Infrastructure Trust Inc closed its acquisition of a petroleum products terminal.
Mr. Schulte is 53 years old. According to his biography, Mr. David J. Schulte, CPA, is President, Chief Executive Officer, Director of CorEnergy Infrastructure Trust, Inc. Mr. Schulte is a co-founder and Managing Director of both Corridor InfraTrust Management, LLC (“Corridor”) and Tortoise Capital Advisors, L.L.C. (“TCA”), where he serves on the investment committee. In addition, Mr. Schulte serves as Senior Vice President of Tortoise Energy Infrastructure Corporation (NYSE: TYG), Tortoise Energy Capital Corporation (NYSE: TYY), Tortoise North American Energy Corporation (NYSE: TYN), Tortoise Power and Energy Infrastructure Fund Inc. (NYSE: TPZ), Tortoise MLP Fund, Inc. (NYSE: NTG), and Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP). From 1993-2002, Mr. Schulte was a Managing Director at Kansas City Equity Partners, L.C. (“KCEP”). While a partner at KCEP, Mr. Schulte led private financing for two growth MLP’s in the energy infrastructure sector, Inergy, L.P., where he served as a director, and MarkWest Energy Partners, L.P., where he was a board observer. Prior to joining KCEP, Mr. Schulte had over five years of experience completing acquisition and public equity financings as an investment banker at the predecessor of Oppenheimer & Co., Inc. In 2011, Mr. Schulte and his partners at TCA were awarded the Ernst & Young Entrepreneur of the Year® award for financial services companies in the Central Midwest region.
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