FTAI Infrastructure (NASDAQ:FIP) Shares Up 5.8% – Here’s Why

Shares of FTAI Infrastructure Inc. (NASDAQ:FIP) rose 5.8% during trading on Wednesday . The stock traded as high as $8.22 and last traded at $8.04. Approximately 263,390 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 621,169 shares. The stock had previously closed at $7.60.

FTAI Infrastructure Trading Up 8.3 %

The stock has a market cap of $936.16 million, a P/E ratio of -4.16 and a beta of 1.34. The stock’s 50-day moving average is $8.16 and its two-hundred day moving average is $8.86. 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 declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Tuesday, November 12th. FTAI Infrastructure’s payout ratio is -6.06%.

Institutional Investors Weigh In On FTAI Infrastructure

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Biltmore Family Office LLC increased its position in shares of FTAI Infrastructure by 0.8% during the third quarter. Biltmore Family Office LLC now owns 230,031 shares of the company’s stock worth $2,153,000 after acquiring an additional 1,826 shares during the period. SG Americas Securities LLC increased its holdings in FTAI Infrastructure by 9.8% during the 3rd quarter. SG Americas Securities LLC now owns 29,654 shares of the company’s stock worth $278,000 after purchasing an additional 2,640 shares during the period. The Manufacturers Life Insurance Company raised its position in FTAI Infrastructure by 8.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,989 shares of the company’s stock valued at $336,000 after purchasing an additional 3,158 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of FTAI Infrastructure in the 3rd quarter worth $34,000. Finally, US Bancorp DE bought a new position in shares of FTAI Infrastructure during the 3rd quarter worth $52,000. Hedge funds and other institutional investors 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.