American Assets Investment Management LLC Raises Stock Holdings in FTAI Infrastructure Inc. (NASDAQ:FIP)

Key Points

• American Assets Investment Management LLC significantly increased its stake in FTAI Infrastructure Inc. by 1,780.5% in the first quarter, now holding approximately 3.12% of the company worth about $16.24 million.
• JMP Securities issued a price target of $12.00 for FTAI Infrastructure, maintaining a "market outperform" rating for the stock.
• FTAI Infrastructure reported an earnings per share of $0.89, exceeding analyst expectations, despite revenue falling short of estimates at $96.16 million.

American Assets Investment Management LLC boosted its stake in FTAI Infrastructure Inc. (NASDAQ:FIP - Free Report) by 1,780.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,584,490 shares of the company's stock after purchasing an additional 3,393,879 shares during the quarter. FTAI Infrastructure comprises about 1.2% of American Assets Investment Management LLC's holdings, making the stock its 15th biggest position. American Assets Investment Management LLC owned 3.12% of FTAI Infrastructure worth $16,238,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of FIP. Northern Trust Corp grew its position in FTAI Infrastructure by 7.0% in the 4th quarter. Northern Trust Corp now owns 913,981 shares of the company's stock valued at $6,636,000 after purchasing an additional 59,674 shares during the period. Bank of America Corp DE lifted its stake in shares of FTAI Infrastructure by 25.5% in the fourth quarter. Bank of America Corp DE now owns 676,954 shares of the company's stock valued at $4,915,000 after buying an additional 137,405 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of FTAI Infrastructure by 767.5% during the fourth quarter. Ameriprise Financial Inc. now owns 245,192 shares of the company's stock valued at $1,780,000 after buying an additional 216,927 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of FTAI Infrastructure by 37.8% during the fourth quarter. Two Sigma Advisers LP now owns 189,500 shares of the company's stock valued at $1,376,000 after buying an additional 52,000 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of FTAI Infrastructure by 6.6% during the fourth quarter. JPMorgan Chase & Co. now owns 552,459 shares of the company's stock worth $4,011,000 after acquiring an additional 34,165 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

FTAI Infrastructure Stock Down 20.2%

Shares of FIP stock traded down $1.26 during trading hours on Friday, reaching $4.98. The company had a trading volume of 7,224,578 shares, compared to its average volume of 1,389,040. The company has a market cap of $571.51 million, a price-to-earnings ratio of -3.77 and a beta of 1.89. The company has a debt-to-equity ratio of 7.90, a current ratio of 0.86 and a quick ratio of 0.86. FTAI Infrastructure Inc. has a 12 month low of $3.10 and a 12 month high of $9.99. The business has a fifty day simple moving average of $6.41 and a 200-day simple moving average of $5.62.

FTAI Infrastructure (NASDAQ:FIP - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.36). The company had revenue of $122.29 million for the quarter, compared to the consensus estimate of $151.77 million. FTAI Infrastructure had a negative net margin of 16.69% and a negative return on equity of 0.20%.

FTAI Infrastructure Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 25th will be issued a dividend of $0.03 per share. The ex-dividend date is Monday, August 25th. This represents a $0.12 annualized dividend and a yield of 2.4%. FTAI Infrastructure's payout ratio is -9.09%.

Analysts Set New Price Targets

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

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.