FTAI Infrastructure (NASDAQ:FIP) Sets New 52-Week High at $7.82

Shares of FTAI Infrastructure Inc. (NASDAQ:FIP) hit a new 52-week high on Thursday . The company traded as high as $7.82 and last traded at $7.74, with a volume of 191301 shares trading hands. The stock had previously closed at $7.51.

Wall Street Analysts Forecast Growth

Separately, BTIG Research started coverage on shares of FTAI Infrastructure in a research note on Thursday, April 18th. They set a “buy” rating and a $10.00 price objective for the company.

FTAI Infrastructure Trading Up 2.7 %

The company has a 50 day moving average price of $6.31 and a 200 day moving average price of $4.72. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market cap of $784.06 million, a price-to-earnings ratio of -4.17 and a beta of 1.29.

FTAI Infrastructure (NASDAQ:FIP) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.47) EPS for the quarter. The company had revenue of $81.44 million during the quarter. FTAI Infrastructure had a negative net margin of 48.71% and a negative return on equity of 32.27%.

FTAI Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 17th will be issued a $0.03 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.56%. FTAI Infrastructure’s dividend payout ratio (DPR) is presently -6.67%.

Hedge Funds Weigh In On FTAI Infrastructure

A number of hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC purchased a new position in FTAI Infrastructure in the 4th quarter valued at about $25,000. Allspring Global Investments Holdings LLC acquired a new stake in FTAI Infrastructure during the 3rd quarter valued at approximately $28,000. Quadrature Capital Ltd acquired a new position in shares of FTAI Infrastructure in the 4th quarter valued at approximately $39,000. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in shares of FTAI Infrastructure during the fourth quarter worth approximately $41,000. Finally, Jump Financial LLC bought a new stake in shares of FTAI Infrastructure in the 3rd quarter worth about $46,000. 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.