FTAI Infrastructure (NASDAQ:FIP) Trading Down 5%

Shares of FTAI Infrastructure Inc. (NASDAQ:FIP) dropped 5% during trading on Wednesday . The stock traded as low as $8.92 and last traded at $8.92. Approximately 168,180 shares were traded during trading, a decline of 84% from the average daily volume of 1,034,046 shares. The stock had previously closed at $9.39.

Wall Street Analyst Weigh In

Several research firms recently commented on FIP. JMP Securities began coverage on shares of FTAI Infrastructure in a report on Wednesday, June 26th. They set a “market outperform” rating and a $11.00 target price on the stock. BTIG Research lifted their target price on shares of FTAI Infrastructure from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th.

FTAI Infrastructure Trading Down 3.9 %

The company has a market capitalization of $917.24 million, a PE ratio of -4.58 and a beta of 1.32. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.95. The stock’s fifty day moving average price is $8.25 and its two-hundred day moving average price is $6.23.

FTAI Infrastructure (NASDAQ:FIP) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.54) earnings per share for the quarter. FTAI Infrastructure had a negative return on equity of 37.21% and a negative net margin of 49.44%. The company had revenue of $82.54 million during the quarter.

FTAI Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Friday, May 17th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Thursday, May 16th. FTAI Infrastructure’s dividend payout ratio is presently -6.19%.

Institutional Trading of FTAI Infrastructure

Several institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC lifted its stake in shares of FTAI Infrastructure by 8.5% in the first quarter. ProShare Advisors LLC now owns 17,783 shares of the company’s stock worth $112,000 after buying an additional 1,400 shares in the last quarter. Victory Capital Management Inc. lifted its position in FTAI Infrastructure by 23.2% in the 4th quarter. Victory Capital Management Inc. now owns 13,200 shares of the company’s stock valued at $51,000 after acquiring an additional 2,490 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in FTAI Infrastructure by 38.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 17,288 shares of the company’s stock valued at $67,000 after purchasing an additional 4,787 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of FTAI Infrastructure by 22.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,483 shares of the company’s stock worth $179,000 after purchasing an additional 5,244 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of FTAI Infrastructure in the fourth quarter worth $25,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

About FTAI Infrastructure

FTAI Infrastructure Inc focuses on acquiring, developing, and operating assets and businesses that represent infrastructure for customers in the transportation, energy, and industrial products industries in North America. The company operates through five segments: Railroad, Jefferson Terminal, Repauno, Power and Gas, and Sustainability and Energy Transition.