Arizona State Retirement System Acquires New Stake in FTAI Infrastructure Inc. (NASDAQ:FIP)

Arizona State Retirement System bought a new position in FTAI Infrastructure Inc. (NASDAQ:FIP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 28,469 shares of the company’s stock, valued at approximately $246,000.

A number of other institutional investors also recently modified their holdings of FIP. Rhumbline Advisers lifted its stake in FTAI Infrastructure by 17.1% in the 2nd quarter. Rhumbline Advisers now owns 154,509 shares of the company’s stock valued at $1,333,000 after acquiring an additional 22,569 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of FTAI Infrastructure during the 2nd quarter worth approximately $134,000. Bank of New York Mellon Corp increased its holdings in shares of FTAI Infrastructure by 8.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 794,868 shares of the company’s stock worth $6,860,000 after acquiring an additional 65,218 shares during the last quarter. Cruiser Capital Advisors LLC increased its holdings in shares of FTAI Infrastructure by 67.6% during the 1st quarter. Cruiser Capital Advisors LLC now owns 432,255 shares of the company’s stock worth $2,709,000 after acquiring an additional 174,325 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in FTAI Infrastructure by 22.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,483 shares of the company’s stock valued at $179,000 after buying an additional 5,244 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FIP has been the topic of several analyst reports. BTIG Research increased their target price on FTAI Infrastructure from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. JMP Securities reiterated a “market outperform” rating and issued a $12.00 target price on shares of FTAI Infrastructure in a research report on Monday, August 5th.

Insider Buying and Selling

In other FTAI Infrastructure news, major shareholder Fig Buyer Gp, Llc sold 3,399,501 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $9.04, for a total value of $30,731,489.04. Following the sale, the insider now directly owns 8,418,561 shares in the company, valued at $76,103,791.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.17% of the stock is currently owned by corporate insiders.

FTAI Infrastructure Trading Up 0.1 %

NASDAQ FIP opened at $9.36 on Wednesday. The company has a debt-to-equity ratio of 5.42, a current ratio of 2.10 and a quick ratio of 2.10. FTAI Infrastructure Inc. has a one year low of $2.84 and a one year high of $10.45. The business has a 50 day simple moving average of $9.33 and a 200 day simple moving average of $8.06. The stock has a market capitalization of $951.86 million, a P/E ratio of -4.82 and a beta of 1.29.

FTAI Infrastructure (NASDAQ:FIP) last announced its quarterly earnings data on Friday, August 2nd. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.17). FTAI Infrastructure had a negative net margin of 49.85% and a negative return on equity of 44.09%. The firm had revenue of $84.89 million during the quarter.

FTAI Infrastructure Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, August 12th were issued a dividend of $0.03 per share. The ex-dividend date was Monday, August 12th. This represents a $0.12 dividend on an annualized basis and a yield of 1.28%. FTAI Infrastructure’s dividend payout ratio (DPR) is currently -6.19%.

FTAI Infrastructure Profile

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.