FTAI Infrastructure (NASDAQ:FIP) Stock Price Down 5.6% – Here’s What Happened

Shares of FTAI Infrastructure Inc. (NASDAQ:FIP) dropped 5.6% during trading on Tuesday . The company traded as low as $7.50 and last traded at $7.55. Approximately 185,989 shares were traded during trading, a decline of 84% from the average daily volume of 1,184,369 shares. The stock had previously closed at $8.00.

FTAI Infrastructure Stock Performance

The business has a 50 day simple moving average of $8.76 and a two-hundred day simple moving average of $8.93. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 6.07. The firm has a market cap of $899.72 million, a PE ratio of -4.04 and a beta of 1.34.

FTAI Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.52%. FTAI Infrastructure’s dividend payout ratio is currently -6.06%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in FTAI Infrastructure in the third quarter valued at approximately $34,000. US Bancorp DE purchased a new stake in shares of FTAI Infrastructure in the third quarter valued at $52,000. Algert Global LLC acquired a new stake in shares of FTAI Infrastructure during the 2nd quarter worth about $88,000. Cladis Investment Advisory LLC purchased a new stake in FTAI Infrastructure in the 3rd quarter worth approximately $94,000. Finally, Choreo LLC purchased a new position in FTAI Infrastructure during the second quarter worth about $100,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

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.