Diamond Hill Capital Management LLC Investment Advisor Acquires New Stake in FTAI Infrastructure Inc. $FIP

Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in FTAI Infrastructure Inc. (NASDAQ:FIP) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,851,613 shares of the company’s stock, valued at approximately $8,591,000. Diamond Hill Capital Management LLC Investment Advisor owned approximately 1.57% of FTAI Infrastructure as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Bank of America Corp DE raised its position in FTAI Infrastructure by 1.7% in the 1st quarter. Bank of America Corp DE now owns 281,015 shares of the company’s stock valued at $1,388,000 after purchasing an additional 4,810 shares in the last quarter. Royal Bank of Canada grew its position in shares of FTAI Infrastructure by 47.2% during the first quarter. Royal Bank of Canada now owns 69,236 shares of the company’s stock worth $341,000 after buying an additional 22,214 shares in the last quarter. Quantinno Capital Management LP grew its position in shares of FTAI Infrastructure by 28.3% during the first quarter. Quantinno Capital Management LP now owns 86,840 shares of the company’s stock worth $429,000 after buying an additional 19,155 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of FTAI Infrastructure by 38.0% during the first quarter. Lazard Asset Management LLC now owns 467,149 shares of the company’s stock worth $2,308,000 after buying an additional 128,598 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID increased its stake in shares of FTAI Infrastructure by 288.6% during the first quarter. Legacy Wealth Managment LLC ID now owns 128,589 shares of the company’s stock worth $635,000 after buying an additional 95,498 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FIP has been the topic of a number of recent analyst reports. BTIG Research dropped their price objective on FTAI Infrastructure from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Citizens Jmp initiated coverage on FTAI Infrastructure in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $10.00 price target for the company. JonesTrading assumed coverage on shares of FTAI Infrastructure in a research note on Wednesday, July 1st. They issued a “buy” rating and a $8.75 price target on the stock. Compass Point set a $12.00 price objective on shares of FTAI Infrastructure in a report on Tuesday, June 30th. Finally, Wall Street Zen downgraded shares of FTAI Infrastructure from a “sell” rating to a “strong sell” rating in a research report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.94.

Insider Buying and Selling at FTAI Infrastructure

In related news, CFO Carl Russell Iv Fletcher bought 10,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were bought at an average cost of $4.58 per share, for a total transaction of $45,800.00. Following the transaction, the chief financial officer owned 40,000 shares of the company’s stock, valued at approximately $183,200. This trade represents a 33.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 2.60% of the stock is currently owned by company insiders.

FTAI Infrastructure Stock Performance

Shares of FTAI Infrastructure stock opened at $4.25 on Tuesday. FTAI Infrastructure Inc. has a 1 year low of $3.06 and a 1 year high of $6.69. The company has a market capitalization of $502.26 million, a P/E ratio of -0.82 and a beta of 1.81. The company’s fifty day moving average is $4.39 and its two-hundred day moving average is $5.00.

FTAI Infrastructure (NASDAQ:FIP) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.81). The company had revenue of $186.77 million during the quarter, compared to analyst estimates of $186.08 million. FTAI Infrastructure had a negative net margin of 74.10% and a negative return on equity of 147.01%.

FTAI Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 24th will be paid a $0.03 dividend. The ex-dividend date is Monday, August 24th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.8%. FTAI Infrastructure’s payout ratio is -2.31%.

FTAI Infrastructure Profile

FTAI Infrastructure Ltd (NASDAQ: FIP) is a closed-end investment company that acquires and manages infrastructure assets offering stable, long-term cash flows. The company targets core and core-plus infrastructure sectors with contracted or regulated revenue streams, aiming to deliver attractive risk-adjusted returns for its shareholders. FTAI Infrastructure’s portfolio is diversified across multiple sub-sectors, geographies and counterparties to manage risk and capture growth opportunities in global infrastructure markets.

The company focuses on three primary investment categories: communications infrastructure, transport and logistics infrastructure, and utility infrastructure.