FTAI Infrastructure (NASDAQ:FIP) Trading Down 6.7% – Here’s What Happened

FTAI Infrastructure Inc. (NASDAQ:FIP) traded down 6.7% on Friday . The stock traded as low as $7.85 and last traded at $7.85. 52,552 shares traded hands during trading, a decline of 93% from the average session volume of 802,257 shares. The stock had previously closed at $8.41.

FTAI Infrastructure Stock Down 5.8 %

The company has a market cap of $900.86 million, a P/E ratio of -4.00 and a beta of 1.45. The stock’s 50-day moving average price is $8.16 and its 200-day moving average price is $8.85. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 6.07.

FTAI Infrastructure Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th were paid a $0.03 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.12 dividend on an annualized basis and a yield of 1.52%. FTAI Infrastructure’s dividend payout ratio (DPR) is presently -6.06%.

Hedge Funds Weigh In On FTAI Infrastructure

A number of large investors have recently modified their holdings of FIP. FMR LLC raised its holdings in FTAI Infrastructure by 5,651.2% during the third quarter. FMR LLC now owns 348,349 shares of the company’s stock worth $3,261,000 after buying an additional 342,292 shares during the last quarter. Barclays PLC raised its holdings in shares of FTAI Infrastructure by 283.8% in the 3rd quarter. Barclays PLC now owns 159,387 shares of the company’s stock worth $1,492,000 after acquiring an additional 117,863 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in FTAI Infrastructure by 198.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 848,363 shares of the company’s stock valued at $7,941,000 after acquiring an additional 564,566 shares in the last quarter. First Eagle Investment Management LLC acquired a new position in FTAI Infrastructure during the 2nd quarter valued at about $2,766,000. Finally, Highland Peak Capital LLC increased its holdings in FTAI Infrastructure by 194.3% during the 3rd quarter. Highland Peak Capital LLC now owns 1,755,349 shares of the company’s stock worth $16,430,000 after purchasing an additional 1,158,816 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.