5 Penny Stocks that Pay Dividends

2. CorEnergy Infrastructure Trust, Inc. (NYSE:CORR)

Dividend Yield as of May 16: 7.94%

Price as of May 16: $2.52

Number of Hedge Fund Holders: 4

CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) is a Kansas-based real estate investment trust that owns a portfolio of critical energy assets, including pipelines, storage terminals, and transmission and distribution assets. The REIT leases out these assets to industrial and commercial customers under long-term contracts. 

On May 12, CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) posted its Q1 revenue of $32.87 million, which increased 42.7% on a year-over-year basis. The stock rose 6.5% after Q1 adjusted EBITDA jumped from the prior quarter and year-over-year, and the company signed its first contract to offer transportation for a carbon sequestration project.

According to the fourth quarter database of Insider Monkey, 4 hedge funds were bullish on CorEnergy Infrastructure Trust, Inc. (NYSE:CORR), with collective stakes worth $727,000, compared to 3 funds in the earlier quarter, holding stakes in the company valued at more than $1 million. Lawrence Raiman’s LDR Capital held a significant share in CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) at the end of Q1 2022, with 217,398 shares worth $4.15 million.