Nuveen LLC Buys New Shares in FTAI Infrastructure Inc. $FIP

Key Points

• Nuveen LLC acquired a new position in FTAI Infrastructure Inc., purchasing 314,013 shares valued at approximately $1.42 million, representing 0.27% of the company's stock.
• FTAI Infrastructure missed earnings expectations, reporting a loss of $0.73 per share, while revenue was $122.29 million, below the forecast of $151.77 million.
• The company announced a quarterly dividend of $0.03 per share, yielding 2.5%, with ownership consisting of 87.43% held by institutional investors.

Nuveen LLC acquired a new stake in FTAI Infrastructure Inc. (NASDAQ:FIP - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 314,013 shares of the company's stock, valued at approximately $1,422,000. Nuveen LLC owned about 0.27% of FTAI Infrastructure at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Aigen Investment Management LP increased its stake in FTAI Infrastructure by 16.9% in the first quarter. Aigen Investment Management LP now owns 24,647 shares of the company's stock valued at $112,000 after acquiring an additional 3,568 shares during the last quarter. Highland Peak Capital LLC grew its stake in shares of FTAI Infrastructure by 127.4% during the first quarter. Highland Peak Capital LLC now owns 3,466,774 shares of the company's stock worth $15,704,000 after buying an additional 1,942,035 shares during the last quarter. American Assets Investment Management LLC grew its stake in shares of FTAI Infrastructure by 1,780.5% during the first quarter. American Assets Investment Management LLC now owns 3,584,490 shares of the company's stock worth $16,238,000 after buying an additional 3,393,879 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of FTAI Infrastructure by 30.8% during the first quarter. Diamond Hill Capital Management Inc. now owns 1,069,759 shares of the company's stock worth $4,846,000 after buying an additional 251,849 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of FTAI Infrastructure during the first quarter worth $127,000. 87.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of FTAI Infrastructure from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, FTAI Infrastructure currently has an average rating of "Buy" and a consensus price target of $12.00.

FTAI Infrastructure Trading Up 1.0%

Shares of NASDAQ:FIP traded up $0.04 during mid-day trading on Friday, reaching $4.18. 2,660,650 shares of the company's stock were exchanged, compared to its average volume of 3,209,898. The firm has a market capitalization of $481.08 million, a price-to-earnings ratio of -2.73 and a beta of 1.87. The business's fifty day moving average price is $5.75 and its 200-day moving average price is $5.32. The company has a debt-to-equity ratio of 13.30, a quick ratio of 1.49 and a current ratio of 1.49. FTAI Infrastructure Inc. has a twelve month low of $3.10 and a twelve month high of $9.96.

FTAI Infrastructure (NASDAQ:FIP - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.73) EPS for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.36). The business had revenue of $122.29 million for the quarter, compared to analyst estimates of $151.77 million. FTAI Infrastructure had a negative return on equity of 10.14% and a negative net margin of 20.85%.

FTAI Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 25th 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 2.9%. The ex-dividend date is Monday, August 25th. FTAI Infrastructure's payout ratio is -7.84%.

Insider Transactions at FTAI Infrastructure

In other news, CFO Carl Russell Iv Fletcher bought 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The shares were acquired at an average price of $4.48 per share, for a total transaction of $44,800.00. Following the completion of the acquisition, the chief financial officer directly owned 30,000 shares in the company, valued at approximately $134,400. This represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.40% of the stock is currently owned by insiders.

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.