FTAI Infrastructure Inc. (NASDAQ:FIP - Get Free Report) shares shot up 3.7% on Thursday . The company traded as high as $6.90 and last traded at $6.79. 98,287 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 691,401 shares. The stock had previously closed at $6.55.
Analyst Ratings Changes
Separately, BTIG Research began coverage on shares of FTAI Infrastructure in a report on Thursday. They issued a "buy" rating and a $10.00 price objective on the stock.
View Our Latest Research Report on FIP
FTAI Infrastructure Price Performance
The stock's fifty day moving average price is $5.51 and its two-hundred day moving average price is $4.30. The firm has a market capitalization of $668.10 million, a price-to-earnings ratio of -3.64 and a beta of 1.51. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 3.25.
FTAI Infrastructure (NASDAQ:FIP - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $81.44 million during the quarter.
FTAI Infrastructure Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Wednesday, March 27th were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, March 26th. This represents a $0.12 annualized dividend and a yield of 1.83%. FTAI Infrastructure's dividend payout ratio is currently -6.67%.
Institutional Investors Weigh In On FTAI Infrastructure
Several hedge funds and other institutional investors have recently bought and sold shares of FIP. BlackRock Inc. raised its stake in FTAI Infrastructure by 472.9% during the 2nd quarter. BlackRock Inc. now owns 8,246,861 shares of the company's stock worth $30,431,000 after acquiring an additional 6,807,302 shares in the last quarter. Morgan Stanley acquired a new stake in FTAI Infrastructure during the 4th quarter worth $12,688,000. Pingora Partners LLC acquired a new stake in FTAI Infrastructure during the 4th quarter worth $6,102,000. Luxor Capital Group LP raised its stake in FTAI Infrastructure by 49.0% during the 4th quarter. Luxor Capital Group LP now owns 4,269,813 shares of the company's stock worth $16,610,000 after acquiring an additional 1,403,628 shares in the last quarter. Finally, State Street Corp raised its stake in FTAI Infrastructure by 342.3% during the 2nd quarter. State Street Corp now owns 1,799,541 shares of the company's stock worth $6,640,000 after acquiring an additional 1,392,641 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.
About FTAI Infrastructure
(
Get Free Report)
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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