FTAI Aviation (NASDAQ:FTAIM) Shares Down 0.3% – Here’s What Happened

Shares of FTAI Aviation Ltd. (NASDAQ:FTAIM) traded down 0.3% during mid-day trading on Thursday . The stock traded as low as $26.86 and last traded at $27.03. Approximately 3,614 shares traded hands during trading, a decline of 32% from the average session volume of 5,348 shares. The stock had previously closed at $27.12.

FTAI Aviation Price Performance

The stock’s 50-day simple moving average is $26.97 and its 200 day simple moving average is $27.02.

FTAI Aviation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.5938 dividend. This represents a $2.38 dividend on an annualized basis and a dividend yield of 8.7%. This is an increase from FTAI Aviation’s previous quarterly dividend of $0.59. The ex-dividend date was Monday, June 1st.

Institutional Investors Weigh In On FTAI Aviation

An institutional investor recently raised its stake in FTAI Aviation stock. Shikiar Asset Management Inc. raised its holdings in FTAI Aviation Ltd. (NASDAQ:FTAIM) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 160,930 shares of the company’s stock after purchasing an additional 2,900 shares during the quarter. FTAI Aviation makes up about 1.3% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 25th largest position. Shikiar Asset Management Inc.’s holdings in FTAI Aviation were worth $4,352,000 at the end of the most recent quarter.

FTAI Aviation Company Profile

FTAI Aviation Ltd., trading on the NASDAQ under the symbol FTAIM, is a publicly listed holding company that offers investors exposure to the commercial aviation sector through its wholly owned operating subsidiary, Azorra Aviation. The company’s core business is centered on acquiring, leasing and trading narrowbody aircraft, with a fleet predominantly comprised of Airbus A320- and Boeing 737-family jets. Through long-term lease agreements, sale-and-leaseback transactions and selective asset disposals, FTAI Aviation seeks to generate predictable rental streams and capture residual value appreciation over the life cycle of each aircraft.

FTAI Aviation emerged in mid-2021 following the completion of a business combination with Azorra Aviation and the subsequent rebranding of its former sponsor, FTAI Infrastructure.