California Public Employees Retirement System purchased a new position in shares of Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) during the first quarter, according to its most recent disclosure with the SEC. The fund purchased 15,300 shares of the financial services provider’s stock, valued at approximately $228,000.

Several other hedge funds have also bought and sold shares of the stock. Russell Investments Group Ltd. increased its stake in Fortress Transportation and Infrastructure Investors by 38.7% in the first quarter. Russell Investments Group Ltd. now owns 140,971 shares of the financial services provider’s stock worth $2,102,000 after buying an additional 39,304 shares during the period. Silver Capital Management LLC purchased a new stake in Fortress Transportation and Infrastructure Investors during the first quarter worth approximately $475,000. Falcon Point Capital LLC increased its stake in Fortress Transportation and Infrastructure Investors by 10.1% in the first quarter. Falcon Point Capital LLC now owns 254,467 shares of the financial services provider’s stock worth $3,794,000 after buying an additional 23,428 shares during the last quarter. Wells Fargo & Company MN increased its stake in Fortress Transportation and Infrastructure Investors by 67.7% in the first quarter. Wells Fargo & Company MN now owns 28,678 shares of the financial services provider’s stock worth $428,000 after buying an additional 11,578 shares during the last quarter. Finally, Gamco Investors INC. ET AL purchased a new stake in Fortress Transportation and Infrastructure Investors during the first quarter worth approximately $157,000. Hedge funds and other institutional investors own 25.19% of the company’s stock.

Fortress Transportation and Infrastructure Investors LLC (NYSE FTAI) traded up 0.41% during mid-day trading on Thursday, reaching $17.00. The company’s stock had a trading volume of 28,953 shares. The firm’s market capitalization is $1.29 billion. Fortress Transportation and Infrastructure Investors LLC has a 52 week low of $11.35 and a 52 week high of $18.41. The firm’s 50 day moving average price is $16.98 and its 200 day moving average price is $15.85.

Fortress Transportation and Infrastructure Investors (NYSE:FTAI) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by $0.04. The business had revenue of $51.20 million for the quarter, compared to the consensus estimate of $52.36 million. Fortress Transportation and Infrastructure Investors had a negative net margin of 4.98% and a positive return on equity of 0.27%. The business’s revenue was up 54.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) EPS. On average, analysts anticipate that Fortress Transportation and Infrastructure Investors LLC will post $0.18 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 28th. Shareholders of record on Friday, August 18th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 7.80%. The ex-dividend date was Wednesday, August 16th. Fortress Transportation and Infrastructure Investors’s payout ratio is -1,100.00%.

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A number of analysts have commented on the company. BidaskClub upgraded Fortress Transportation and Infrastructure Investors from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. TheStreet upgraded Fortress Transportation and Infrastructure Investors from a “c” rating to a “b-” rating in a research report on Monday, July 31st. Zacks Investment Research downgraded Fortress Transportation and Infrastructure Investors from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Finally, JMP Securities boosted their target price on Fortress Transportation and Infrastructure Investors from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, May 8th. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $17.83.

About Fortress Transportation and Infrastructure Investors

Fortress Transportation and Infrastructure Investors LLC owns and acquires infrastructure and equipment that is essential for the transportation of goods and people across the world. The Company operates through five segments Aviation Leasing, Offshore Energy, Shipping Containers, Jefferson Terminal and Railroad.

Institutional Ownership by Quarter for Fortress Transportation and Infrastructure Investors (NYSE:FTAI)

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