CORR - CorEnergy Infrastructure rises 4.2% after Q4 beat plans manager internalization

CorEnergy Infrastructure Trust (CORR) stock gains 4.2% in after-hours trading after Q4 FFO loss per share of 21 cents isn't as bad as the average analyst estimate for a 28 cent loss.Compares with FFO per share of 92 cents in Q4 2019.Q4 revenue of $5.88M beats the consensus estimate of $4.62M and declined from $21.7M in the year-ago quarter.The REIT also agreed to internalize its REIT manager, Corridor InfraTrust Management, for $16.9M, subject to stockholder approval. As a result, CORR expect that the pro forma management fees of ~$5.5M will be replaced with an estimated $3.4M annualize SG&A expenses.Issue outlook incorporating its Feb. 4 acquisition of Crimson California, with revenue expected to be $130M-$135M annualizing CORR's legacy assets and Crimson's assets for 2021. The consensus estimate was $81.8M.Expects run rate combined EBITDA of $50M-$52M on an annualized basis starting in Q2 2021.Conference call on March 4 at 2:00 PM ET.Previously (March

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CorEnergy Infrastructure rises 4.2% after Q4 beat, plans manager internalization