FTAI Infrastructure (NASDAQ:FIP) Shares Down 3.2% – Here’s Why

FTAI Infrastructure Inc. (NASDAQ:FIP) traded down 3.2% during mid-day trading on Monday . The company traded as low as $5.08 and last traded at $5.13. 135,132 shares changed hands during trading, a decline of 88% from the average session volume of 1,175,024 shares. The stock had previously closed at $5.30.

FTAI Infrastructure Price Performance

The company’s 50 day simple moving average is $6.16 and its 200 day simple moving average is $7.70. The stock has a market cap of $566.29 million, a P/E ratio of -2.51 and a beta of 1.52. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.42 and a quick ratio of 1.42.

FTAI Infrastructure Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.12 dividend on an annualized basis and a yield of 2.41%. FTAI Infrastructure’s payout ratio is -4.36%.

Institutional Investors Weigh In On FTAI Infrastructure

A number of hedge funds have recently modified their holdings of FIP. Rhumbline Advisers lifted its position in FTAI Infrastructure by 1.4% in the 4th quarter. Rhumbline Advisers now owns 158,513 shares of the company’s stock valued at $1,151,000 after acquiring an additional 2,141 shares in the last quarter. Arizona State Retirement System raised its position in FTAI Infrastructure by 10.1% in the 4th quarter. Arizona State Retirement System now owns 32,231 shares of the company’s stock valued at $234,000 after buying an additional 2,948 shares during the last quarter. Invesco Ltd. lifted its position in shares of FTAI Infrastructure by 1.8% in the fourth quarter. Invesco Ltd. now owns 196,041 shares of the company’s stock worth $1,423,000 after purchasing an additional 3,409 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of FTAI Infrastructure during the 3rd quarter worth about $34,000. Finally, Pictet Asset Management Holding SA grew its holdings in shares of FTAI Infrastructure by 19.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 22,326 shares of the company’s stock valued at $162,000 after acquiring an additional 3,610 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

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.