FTAI Infrastructure (NASDAQ:FIP) Trading 5.9% Higher – Here’s What Happened

FTAI Infrastructure Inc. (NASDAQ:FIP) shares traded up 5.9% during trading on Monday . The stock traded as high as $5.05 and last traded at $5.09. 183,501 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 1,164,031 shares. The stock had previously closed at $4.80.

FTAI Infrastructure Stock Up 8.2 %

The firm has a market capitalization of $590.91 million, a P/E ratio of -2.62 and a beta of 1.52. The firm’s 50-day moving average is $6.54 and its 200 day moving average is $7.89. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.42 and a current ratio of 1.42.

FTAI Infrastructure Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a $0.03 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.12 annualized dividend and a yield of 2.31%. FTAI Infrastructure’s payout ratio is currently -4.36%.

Institutional Investors Weigh In On FTAI Infrastructure

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in FTAI Infrastructure by 12.6% in the 4th quarter. Vanguard Group Inc. now owns 6,537,542 shares of the company’s stock valued at $47,463,000 after buying an additional 730,895 shares during the last quarter. Luxor Capital Group LP increased its stake in shares of FTAI Infrastructure by 4.6% during the 3rd quarter. Luxor Capital Group LP now owns 5,940,484 shares of the company’s stock worth $55,603,000 after purchasing an additional 258,591 shares during the last quarter. Hood River Capital Management LLC increased its stake in shares of FTAI Infrastructure by 32.7% during the 4th quarter. Hood River Capital Management LLC now owns 5,891,840 shares of the company’s stock worth $42,775,000 after purchasing an additional 1,452,567 shares during the last quarter. Capital International Investors grew its stake in FTAI Infrastructure by 17.0% in the 4th quarter. Capital International Investors now owns 5,345,350 shares of the company’s stock valued at $38,807,000 after buying an additional 778,376 shares during the last quarter. Finally, State Street Corp grew its stake in FTAI Infrastructure by 2.2% in the 3rd quarter. State Street Corp now owns 2,543,305 shares of the company’s stock valued at $23,805,000 after buying an additional 55,936 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

FTAI Infrastructure Company Profile

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.