CORR - CorEnergy Preferred: 12% Yield While You Wait For Your +70% Capital Gain
Vilified by investors, traumatised by low oil and gas prices, and humbled by the bankruptcy-after-bankruptcy of a huge tenant, CorEnergy (CORR) is truly at rock bottom. Today, though, I will present the investment case for the preferred shares (CORR.PA). Unfairly slashed to half-price, they actually offer strong stomached deep-value investors a spectacular bargain.
Laughing Stock
Even an optimist would admit that CorEnergy is a distinctly average oil pipeline company: its only unique feature being its REIT structure. It buys oil or gas pipelines, storage terminals, etc., and leases them to petroleum