FTAI Infrastructure Inc. (NASDAQ:FIP – Get Free Report)’s stock price was up 3.7% during trading on Thursday . The company traded as high as $6.90 and last traded at $6.79. Approximately 98,287 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 691,401 shares. The stock had previously closed at $6.55.
Wall Street Analyst Weigh In
Separately, BTIG Research started coverage on FTAI Infrastructure in a research report on Thursday. They issued a “buy” rating and a $10.00 target price for the company.
View Our Latest Research Report on FTAI Infrastructure
FTAI Infrastructure Stock Up 1.5 %
FTAI Infrastructure (NASDAQ:FIP – Get Free Report) last posted its earnings results on Thursday, February 29th. The company reported ($0.47) earnings per share for the quarter. The business had revenue of $81.44 million during the quarter. FTAI Infrastructure had a negative return on equity of 32.27% and a negative net margin of 48.71%.
FTAI Infrastructure Announces Dividend
The firm also recently announced 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 dividend on an annualized basis and a yield of 1.80%. FTAI Infrastructure’s payout ratio is -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. International Assets Investment Management LLC bought a new stake in FTAI Infrastructure during the 4th quarter worth approximately $25,000. Ameritas Investment Partners Inc. bought a new position in shares of FTAI Infrastructure in the second quarter worth $30,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of FTAI Infrastructure in the third quarter worth $28,000. Quadrature Capital Ltd bought a new stake in FTAI Infrastructure during the fourth quarter valued at $39,000. Finally, Cantor Fitzgerald Investment Advisors L.P. bought a new stake in FTAI Infrastructure during the fourth quarter valued at $41,000. 87.43% of the stock is currently owned by institutional investors.
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.
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