American Assets Investment Management LLC Buys 3,393,879 Shares of FTAI Infrastructure Inc. (NASDAQ:FIP)

Key Points

• American Assets Investment Management LLC increased its holdings in FTAI Infrastructure Inc. by 1,780.5%, now owning 3,584,490 shares, which represent approximately 6.8% of its investment portfolio.
• FTAI Infrastructure reported earnings of $0.89 per share for the last quarter, exceeding expectations, despite a revenue of $96.16 million falling short of the estimated $107.84 million.
• The company declared a quarterly dividend of $0.03, yielding 1.89%, although it has a negative dividend payout ratio of -9.09%.

American Assets Investment Management LLC raised its holdings in FTAI Infrastructure Inc. (NASDAQ:FIP - Free Report) by 1,780.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,584,490 shares of the company's stock after acquiring an additional 3,393,879 shares during the quarter. FTAI Infrastructure accounts for about 6.8% of American Assets Investment Management LLC's holdings, making the stock its 3rd biggest position. American Assets Investment Management LLC owned about 3.12% of FTAI Infrastructure worth $16,238,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Stephens Inc. AR boosted its stake in shares of FTAI Infrastructure by 10.6% during the first quarter. Stephens Inc. AR now owns 33,450 shares of the company's stock valued at $152,000 after acquiring an additional 3,200 shares during the last quarter. Invesco Ltd. raised its holdings in FTAI Infrastructure by 1.8% in the 4th quarter. Invesco Ltd. now owns 196,041 shares of the company's stock valued at $1,423,000 after acquiring an additional 3,409 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of FTAI Infrastructure by 19.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 22,326 shares of the company's stock worth $162,000 after purchasing an additional 3,610 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of FTAI Infrastructure by 10.0% during the fourth quarter. MetLife Investment Management LLC now owns 65,575 shares of the company's stock worth $476,000 after purchasing an additional 5,961 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in FTAI Infrastructure by 18.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,998 shares of the company's stock worth $284,000 after buying an additional 5,973 shares during the period. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JMP Securities reaffirmed a "market outperform" rating and set a $12.00 price objective on shares of FTAI Infrastructure in a research note on Tuesday, April 22nd.

FTAI Infrastructure Stock Up 1.0%

Shares of NASDAQ:FIP traded up $0.06 during midday trading on Friday, hitting $6.33. 2,287,394 shares of the company's stock traded hands, compared to its average volume of 1,065,921. FTAI Infrastructure Inc. has a twelve month low of $3.10 and a twelve month high of $10.12. The company has a debt-to-equity ratio of 7.90, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $726.44 million, a PE ratio of -4.80 and a beta of 1.89. The firm's fifty day moving average price is $6.34 and its two-hundred day moving average price is $5.64.

FTAI Infrastructure (NASDAQ:FIP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of ($0.34) by $1.23. FTAI Infrastructure had a negative net margin of 16.69% and a negative return on equity of 0.20%. The business had revenue of $96.16 million for the quarter, compared to analysts' expectations of $107.84 million.

FTAI Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 19th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, May 19th. FTAI Infrastructure's dividend payout ratio is presently -9.09%.

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.