FTAI Infrastructure Inc. (NASDAQ:FIP) Shares to Pay Quarterly Dividend of $0.03

FTAI Infrastructure Inc. (NASDAQ:FIP) declared a quarterly dividend on Wednesday, November 4th. Stockholders of record on Monday, November 23rd will be paid a dividend of $0.03 per share on Monday, December 7th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Monday, November 23rd.

FTAI Infrastructure has a dividend payout ratio of -16.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

FTAI Infrastructure Stock Performance

FIP stock opened at $2.94 on Friday. The company has a market capitalization of $347.46 million, a P/E ratio of -0.57 and a beta of 1.82. FTAI Infrastructure has a 52-week low of $2.23 and a 52-week high of $6.69. The business has a 50-day simple moving average of $2.89 and a two-hundred day simple moving average of $4.46.

FTAI Infrastructure (NASDAQ:FIP) last released its quarterly earnings results on Thursday, November 5th. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.72). The company had revenue of $218.97 million during the quarter, compared to analyst estimates of $195.03 million.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FIP. CenterBook Partners LP increased its position in shares of FTAI Infrastructure by 77.6% in the third quarter. CenterBook Partners LP now owns 3,485,831 shares of the company’s stock valued at $9,621,000 after acquiring an additional 1,522,854 shares during the period. WINTON GROUP Ltd bought a new position in shares of FTAI Infrastructure in the 2nd quarter worth approximately $65,000. Connective Capital Management LLC purchased a new position in FTAI Infrastructure during the second quarter valued at $167,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in FTAI Infrastructure during the 2nd quarter valued at about $75,000. Finally, Wellington Management Group LLP lifted its holdings in shares of FTAI Infrastructure by 10.3% during the second quarter. Wellington Management Group LLP now owns 13,490,351 shares of the company’s stock valued at $62,595,000 after purchasing an additional 1,259,468 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

FTAI Infrastructure Company Profile

FTAI Infrastructure Inc is an infrastructure company that owns and operates critical transportation and energy assets. Its portfolio is designed to support the movement, storage and processing of essential commodities and industrial products, with a focus on long-lived infrastructure that serves industrial and logistics customers.

The company’s businesses include Transtar, an industrial rail network serving manufacturing facilities, ports and other freight customers; Jefferson Terminal, a multimodal port and logistics facility on the U.S.