FTAI Infrastructure (NASDAQ:FIP) Shares Down 4.9% - Here's Why

FTAI Infrastructure Inc. (NASDAQ:FIP - Get Free Report) shares traded down 4.9% during mid-day trading on Tuesday . The stock traded as low as $6.12 and last traded at $6.13. 436,738 shares were traded during mid-day trading, a decline of 67% from the average session volume of 1,318,337 shares. The stock had previously closed at $6.44.

Wall Street Analysts Forecast Growth

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

FTAI Infrastructure Stock Performance

The company has a market capitalization of $717.26 million, a PE ratio of -3.16 and a beta of 1.94. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 6.07. The business's fifty day moving average is $4.70 and its two-hundred day moving average is $6.03.

FTAI Infrastructure (NASDAQ:FIP - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $107.84 million.

FTAI Infrastructure Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 19th were given a dividend of $0.03 per share. The ex-dividend date was Monday, May 19th. This represents a $0.12 annualized dividend and a yield of 1.92%. FTAI Infrastructure's dividend payout ratio (DPR) is -9.09%.

Institutional Investors Weigh In On FTAI Infrastructure

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

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.