FTAI Infrastructure (NASDAQ:FIP) Shares Down 0.4% – Here’s What Happened

by · The Markets Daily

FTAI Infrastructure Inc. (NASDAQ:FIP – Get Free Report)’s share price was down 0.4% during trading on Tuesday. The stock traded as low as $2.26 and last traded at $2.31. Approximately 1,463,227 shares traded hands during trading, an increase of 6% from the average session volume of 1,386,296 shares. The stock had previously closed at $2.32.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FIP shares. Jefferies Financial Group set a $10.00 price target on FTAI Infrastructure in a research note on Tuesday, September 29th. Compass Point set a $12.00 target price on FTAI Infrastructure in a research note on Tuesday, June 30th. Wall Street Zen lowered FTAI Infrastructure from a “sell” rating to a “strong sell” rating in a research report on Monday, July 20th. Citigroup reaffirmed a “market outperform” rating on shares of FTAI Infrastructure in a research report on Tuesday, September 29th. Finally, Citizens Jmp assumed coverage on shares of FTAI Infrastructure in a report on Wednesday, July 15th. They set a “market outperform” rating and a $10.00 price target on the stock. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, FTAI Infrastructure has an average rating of “Moderate Buy” and an average price target of $9.95.

Read Our Latest Stock Report on FIP

FTAI Infrastructure Trading Up 4.6%

The firm’s 50-day moving average price is $3.12 and its two-hundred day moving average price is $4.14.

FTAI Infrastructure (NASDAQ:FIP – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.81). The business had revenue of $186.77 million during the quarter, compared to analysts’ expectations of $186.08 million.

FTAI Infrastructure Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 24th were given a dividend of $0.03 per share. The ex-dividend date was Monday, August 24th. This represents a $0.12 annualized dividend and a yield of 4.8%. FTAI Infrastructure’s dividend payout ratio is -2.31%.

Institutional Trading of FTAI Infrastructure

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in shares of FTAI Infrastructure by 10.3% during the second quarter. Wellington Management Group LLP now owns 13,490,351 shares of the company’s stock worth $62,595,000 after purchasing an additional 1,259,468 shares during the period. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in FTAI Infrastructure in the second quarter valued at about $8,591,000. Lazard Asset Management LLC lifted its stake in FTAI Infrastructure by 38.0% in the first quarter. Lazard Asset Management LLC now owns 467,149 shares of the company’s stock valued at $2,308,000 after buying an additional 128,598 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in FTAI Infrastructure by 43.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 433,930 shares of the company’s stock valued at $2,144,000 after buying an additional 131,521 shares during the period. Finally, Fifth Third Bancorp bought a new position in FTAI Infrastructure during the first quarter worth about $1,839,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

About FTAI Infrastructure

(Get Free Report)

FTAI Infrastructure Inc is an infrastructure company that owns and operates assets in the transportation and energy sectors. Its portfolio is focused primarily on rail transportation, port and terminal facilities, and related infrastructure that supports the movement and storage of industrial commodities.

Through its Transtar platform, the company operates freight railroads and provides rail transportation and infrastructure services to industrial customers. Its other operations include deep-water port and terminal facilities, energy terminals, and power-related infrastructure designed to support the handling, storage, and delivery of energy products and other bulk materials.

FTAI Infrastructure’s assets are located primarily in the United States, serving industrial markets and supply chains through strategically positioned rail, port, terminal, and energy facilities.

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