Wellington Management Group LLP Has $62.59 Million Holdings in FTAI Infrastructure Inc. $FIP

Wellington Management Group LLP raised its holdings in FTAI Infrastructure Inc. (NASDAQ:FIP) by 10.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,490,351 shares of the company’s stock after buying an additional 1,259,468 shares during the period. Wellington Management Group LLP owned about 0.11% of FTAI Infrastructure worth $62,595,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in shares of FTAI Infrastructure by 2.8% during the 4th quarter. AQR Capital Management LLC now owns 70,436 shares of the company’s stock worth $325,000 after acquiring an additional 1,920 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in FTAI Infrastructure by 9.9% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 33,171 shares of the company’s stock valued at $145,000 after acquiring an additional 2,979 shares during the period. Bank of America Corp DE raised its stake 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 acquiring an additional 4,810 shares during the period. American Trust lifted its holdings in FTAI Infrastructure by 45.5% during the 3rd quarter. American Trust now owns 16,415 shares of the company’s stock valued at $72,000 after purchasing an additional 5,135 shares during the last quarter. Finally, Mariner LLC lifted its holdings in FTAI Infrastructure by 6.3% during the 3rd quarter. Mariner LLC now owns 95,447 shares of the company’s stock valued at $416,000 after purchasing an additional 5,628 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

FTAI Infrastructure Price Performance

Shares of NASDAQ FIP opened at $3.38 on Thursday. The stock has a market capitalization of $399.46 million, a PE ratio of -0.65 and a beta of 1.79. The business has a fifty day moving average price of $4.14 and a two-hundred day moving average price of $4.81. FTAI Infrastructure Inc. has a fifty-two week low of $3.06 and a fifty-two week high of $6.69.

FTAI Infrastructure (NASDAQ:FIP) last released its 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 for the quarter, compared to analyst estimates of $186.08 million. FTAI Infrastructure had a negative return on equity of 147.01% and a negative net margin of 74.10%.

FTAI Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, August 24th. FTAI Infrastructure’s dividend payout ratio (DPR) is currently -2.31%.

Analysts Set New Price Targets

Several equities analysts have commented on FIP shares. Wall Street Zen downgraded shares of FTAI Infrastructure from a “sell” rating to a “strong sell” rating in a report on Monday, July 20th. BTIG Research reduced their target price on shares of FTAI Infrastructure from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, May 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of FTAI Infrastructure in a research note on Friday, June 12th. Citizens Jmp began coverage on shares of FTAI Infrastructure in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $10.00 price target on the stock. Finally, Compass Point set a $12.00 price objective on shares of FTAI Infrastructure in a research report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $9.94.

FTAI Infrastructure Company 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.