Northern Trust Corp Has $6.64 Million Stake in FTAI Infrastructure Inc. (NASDAQ:FIP)

Northern Trust Corp lifted its position in FTAI Infrastructure Inc. (NASDAQ:FIP - Free Report) by 7.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 913,981 shares of the company's stock after acquiring an additional 59,674 shares during the period. Northern Trust Corp owned approximately 0.80% of FTAI Infrastructure worth $6,636,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morey & Quinn Wealth Partners LLC acquired a new stake in shares of FTAI Infrastructure during the fourth quarter worth $84,000. Castellan Group acquired a new position in FTAI Infrastructure during the 4th quarter worth approximately $96,000. Proficio Capital Partners LLC bought a new position in shares of FTAI Infrastructure during the 4th quarter worth approximately $97,000. Hills Bank & Trust Co bought a new stake in shares of FTAI Infrastructure in the fourth quarter worth $103,000. Finally, Versor Investments LP acquired a new position in FTAI Infrastructure during the fourth quarter worth $115,000. Institutional investors own 87.43% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, JMP Securities restated 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 Performance

FIP stock traded up $0.46 during trading hours on Friday, reaching $5.46. The stock had a trading volume of 2,600,666 shares, compared to its average volume of 1,355,691. The stock has a 50-day simple moving average of $4.39 and a 200 day simple moving average of $6.22. FTAI Infrastructure Inc. has a fifty-two week low of $3.10 and a fifty-two week high of $10.46. The stock has a market capitalization of $626.60 million, a PE ratio of -2.76 and a beta of 1.70. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.42 and a quick ratio of 1.42.

FTAI Infrastructure (NASDAQ:FIP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of ($0.34) by $1.23. FTAI Infrastructure had a negative return on equity of 46.25% and a negative net margin of 44.32%. The firm had revenue of $96.16 million for the quarter, compared to the consensus estimate of $107.84 million.

FTAI Infrastructure Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Monday, May 19th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is 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.