FTAI Infrastructure (NASDAQ:FIP) Coverage Initiated at JMP Securities

JMP Securities started coverage on shares of FTAI Infrastructure (NASDAQ:FIP) in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. The firm issued a market outperform rating and a $11.00 price target on the stock.

Separately, BTIG Research upped their target price on shares of FTAI Infrastructure from $10.00 to $11.00 and gave the company a buy rating in a report on Thursday, June 6th.

FTAI Infrastructure Price Performance

FTAI Infrastructure stock opened at $8.63 on Wednesday. FTAI Infrastructure has a 52 week low of $2.84 and a 52 week high of $9.25. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.95. The firm’s 50-day simple moving average is $7.99 and its 200 day simple moving average is $5.95. The firm has a market capitalization of $877.58 million, a PE ratio of -4.45 and a beta of 1.35.

FTAI Infrastructure (NASDAQ:FIP) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.54) EPS for the quarter. FTAI Infrastructure had a negative return on equity of 37.21% and a negative net margin of 49.44%. The business had revenue of $82.54 million during the quarter.

FTAI Infrastructure Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Friday, May 17th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Thursday, May 16th. FTAI Infrastructure’s dividend payout ratio (DPR) is presently -6.19%.

Institutional Trading of FTAI Infrastructure

Several large investors have recently bought and sold shares of the company. ProShare Advisors LLC grew its position in FTAI Infrastructure by 8.5% in the first quarter. ProShare Advisors LLC now owns 17,783 shares of the company’s stock valued at $112,000 after acquiring an additional 1,400 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of FTAI Infrastructure by 23.2% during the fourth quarter. Victory Capital Management Inc. now owns 13,200 shares of the company’s stock worth $51,000 after buying an additional 2,490 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of FTAI Infrastructure by 38.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 17,288 shares of the company’s stock worth $67,000 after buying an additional 4,787 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of FTAI Infrastructure by 22.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,483 shares of the company’s stock worth $179,000 after buying an additional 5,244 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of FTAI Infrastructure during the fourth quarter worth approximately $25,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

About FTAI Infrastructure

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.