FTAI Infrastructure Inc. (NASDAQ:FIP) Sees Large Drop in Short Interest

FTAI Infrastructure Inc. (NASDAQ:FIP) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 6,470,000 shares, a drop of 6.4% from the October 15th total of 6,910,000 shares. Approximately 6.3% of the shares of the company are short sold. Based on an average trading volume of 1,290,000 shares, the days-to-cover ratio is currently 5.0 days.

FTAI Infrastructure Trading Down 0.9 %

Shares of NASDAQ FIP opened at $8.35 on Tuesday. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.42 and a quick ratio of 1.42. The firm’s 50-day moving average price is $9.00 and its two-hundred day moving average price is $8.89. FTAI Infrastructure has a 52-week low of $3.42 and a 52-week high of $10.45.

FTAI Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th will be given a dividend of $0.03 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.12 dividend on an annualized basis and a yield of 1.44%. FTAI Infrastructure’s dividend payout ratio is currently -6.06%.

Analyst Upgrades and Downgrades

Separately, JMP Securities restated a “market outperform” rating and set a $12.00 price objective on shares of FTAI Infrastructure in a research note on Monday, August 5th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its holdings in shares of FTAI Infrastructure by 8.5% during 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 during the period. Biltmore Family Office LLC increased its stake in shares of FTAI Infrastructure by 0.8% in the third quarter. Biltmore Family Office LLC now owns 230,031 shares of the company’s stock valued at $2,153,000 after purchasing an additional 1,826 shares during the period. SG Americas Securities LLC boosted its position in shares of FTAI Infrastructure by 9.8% during the third quarter. SG Americas Securities LLC now owns 29,654 shares of the company’s stock worth $278,000 after buying an additional 2,640 shares during the period. The Manufacturers Life Insurance Company grew its holdings in FTAI Infrastructure by 8.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,989 shares of the company’s stock worth $336,000 after buying an additional 3,158 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in FTAI Infrastructure by 22.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,483 shares of the company’s stock valued at $179,000 after acquiring an additional 5,244 shares in the last quarter. 87.43% of the stock is currently owned by 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.