BTIG Research began coverage on shares of FTAI Infrastructure (NASDAQ:FIP - Free Report) in a report released on Thursday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $10.00 price objective on the stock.
FTAI Infrastructure Trading Up 0.3 %
Shares of NASDAQ:FIP traded up $0.02 during trading on Thursday, reaching $6.57. The stock had a trading volume of 1,257,713 shares, compared to its average volume of 707,067. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 3.25. The stock has a market cap of $668.13 million, a P/E ratio of -3.65 and a beta of 1.51. The business has a fifty day moving average price of $5.55 and a 200-day moving average price of $4.31. FTAI Infrastructure has a fifty-two week low of $2.64 and a fifty-two week high of $7.16.
FTAI Infrastructure (NASDAQ:FIP - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.47) earnings per share for the quarter. FTAI Infrastructure had a negative net margin of 48.71% and a negative return on equity of 32.27%. The business had revenue of $81.44 million during the quarter.
FTAI Infrastructure Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Wednesday, March 27th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, March 26th. This represents a $0.12 annualized dividend and a yield of 1.83%. FTAI Infrastructure's dividend payout ratio is presently -6.67%.
Institutional Trading of FTAI Infrastructure
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in FTAI Infrastructure by 472.9% during the second quarter. BlackRock Inc. now owns 8,246,861 shares of the company's stock valued at $30,431,000 after buying an additional 6,807,302 shares in the last quarter. Morgan Stanley bought a new stake in shares of FTAI Infrastructure in the 4th quarter valued at approximately $12,688,000. Pingora Partners LLC acquired a new stake in shares of FTAI Infrastructure during the 4th quarter valued at approximately $6,102,000. Luxor Capital Group LP lifted its stake in FTAI Infrastructure by 49.0% during the fourth quarter. Luxor Capital Group LP now owns 4,269,813 shares of the company's stock worth $16,610,000 after purchasing an additional 1,403,628 shares during the last quarter. Finally, State Street Corp boosted its holdings in FTAI Infrastructure by 342.3% in the second quarter. State Street Corp now owns 1,799,541 shares of the company's stock worth $6,640,000 after purchasing an additional 1,392,641 shares during the period. Institutional investors own 87.43% of the company's stock.
About FTAI Infrastructure
(
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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.
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