FTAI Infrastructure (NASDAQ:FIP) Trading Down 6.7% – What’s Next?

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

FTAI Infrastructure Stock Performance

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

FTAI Infrastructure Announces Dividend

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

Hedge Funds Weigh In On FTAI Infrastructure

Several hedge funds have recently modified their holdings of FIP. Wilmington Savings Fund Society FSB bought a new position in shares of FTAI Infrastructure in the third quarter valued at approximately $34,000. US Bancorp DE bought a new position in FTAI Infrastructure in the 3rd quarter valued at $52,000. Algert Global LLC bought a new position in FTAI Infrastructure in the 2nd quarter valued at $88,000. Cladis Investment Advisory LLC purchased a new stake in shares of FTAI Infrastructure during the 3rd quarter valued at $94,000. Finally, Choreo LLC bought a new stake in shares of FTAI Infrastructure during the 2nd quarter worth $100,000. 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.