FTAI Infrastructure Inc. Plans Quarterly Dividend of $0.03 (NASDAQ:FIP)

FTAI Infrastructure Inc. (NASDAQ:FIP) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Investors of record on Tuesday, November 12th will be given a dividend of 0.03 per share on Tuesday, November 19th. This represents a $0.12 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Tuesday, November 12th.

FTAI Infrastructure has a payout ratio of -14.6% indicating that 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 Down 0.5 %

Shares of NASDAQ:FIP traded down $0.04 during trading hours on Friday, hitting $8.03. The company’s stock had a trading volume of 211,062 shares, compared to its average volume of 1,157,071. The firm’s fifty day moving average price is $9.08 and its 200 day moving average price is $8.72. FTAI Infrastructure has a 52 week low of $3.10 and a 52 week high of $10.45. The company has a market capitalization of $843.47 million, a price-to-earnings ratio of -4.11 and a beta of 1.28. 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 (NASDAQ:FIP) last posted its earnings results on Friday, August 2nd. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.17). The company had revenue of $84.89 million for the quarter. FTAI Infrastructure had a negative return on equity of 43.30% and a negative net margin of 44.32%.

Analyst Upgrades and Downgrades

Separately, JMP Securities restated a “market outperform” rating and set a $12.00 price objective on shares of FTAI Infrastructure in a research note on Monday, August 5th.

Insider Activity at FTAI Infrastructure

In related news, major shareholder Fig Buyer Gp, Llc sold 3,399,501 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $9.04, for a total transaction of $30,731,489.04. Following the transaction, the insider now directly owns 8,418,561 shares of the company’s stock, valued at $76,103,791.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.17% of the stock is currently owned by corporate insiders.

FTAI Infrastructure Company 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.