FTAI Infrastructure Inc. (NASDAQ:FIP) to Issue Quarterly Dividend of $0.03

FTAI Infrastructure Inc. (NASDAQ:FIP) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Shareholders of record on Tuesday, November 12th will be given a dividend of 0.03 per share on Tuesday, November 19th. This represents a $0.12 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Tuesday, November 12th.

FTAI Infrastructure has a dividend payout ratio of -14.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

FTAI Infrastructure Price Performance

NASDAQ:FIP traded up $0.06 during midday trading on Friday, reaching $8.13. 70,527 shares of the stock traded hands, compared to its average volume of 1,156,408. The business has a 50-day moving average of $9.08 and a two-hundred day moving average of $8.72. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 5.42. FTAI Infrastructure has a 12-month low of $3.10 and a 12-month high of $10.45.

FTAI Infrastructure (NASDAQ:FIP) last posted its quarterly earnings data on Friday, August 2nd. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.17). The company had revenue of $84.89 million for the quarter. FTAI Infrastructure had a negative net margin of 44.32% and a negative return on equity of 43.30%.

Insider Activity

In other FTAI Infrastructure news, major shareholder Fig Buyer Gp, Llc sold 3,399,501 shares of FTAI Infrastructure stock in a transaction on Friday, August 9th. The stock was sold at an average price of $9.04, for a total value of $30,731,489.04. Following the sale, the insider now owns 8,418,561 shares in the company, valued at $76,103,791.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.17% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JMP Securities reissued a “market outperform” rating and set a $12.00 price target on shares of FTAI Infrastructure in a research report on Monday, August 5th.

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.