Raymond James & Associates cut its holdings in shares of Fortress Transprtn and Infr Investrs LLC (NYSE:FTAI) by 1.8% during the second quarter, Holdings Channel reports. The fund owned 501,767 shares of the financial services provider’s stock after selling 8,939 shares during the quarter. Raymond James & Associates’ holdings in Fortress Transprtn and Infr Investrs were worth $9,067,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Renaissance Technologies LLC increased its holdings in shares of Fortress Transprtn and Infr Investrs by 49.2% during the 2nd quarter. Renaissance Technologies LLC now owns 408,971 shares of the financial services provider’s stock worth $7,390,000 after acquiring an additional 134,780 shares during the last quarter. Stephens Inc. AR acquired a new position in shares of Fortress Transprtn and Infr Investrs during the 2nd quarter worth approximately $885,000. Summit Trail Advisors LLC acquired a new position in shares of Fortress Transprtn and Infr Investrs during the 2nd quarter worth approximately $271,000. Gamco Investors INC. ET AL increased its holdings in shares of Fortress Transprtn and Infr Investrs by 10.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 72,250 shares of the financial services provider’s stock worth $1,306,000 after acquiring an additional 7,078 shares during the last quarter. Finally, Gabelli Funds LLC increased its holdings in shares of Fortress Transprtn and Infr Investrs by 22.3% during the 2nd quarter. Gabelli Funds LLC now owns 44,413 shares of the financial services provider’s stock worth $803,000 after acquiring an additional 8,113 shares during the last quarter. 32.93% of the stock is currently owned by institutional investors and hedge funds.

FTAI has been the topic of a number of recent analyst reports. TheStreet raised Fortress Transprtn and Infr Investrs from a “c+” rating to a “b” rating in a report on Friday, August 3rd. Zacks Investment Research lowered Fortress Transprtn and Infr Investrs from a “hold” rating to a “sell” rating in a report on Thursday, July 5th. Finally, ValuEngine raised Fortress Transprtn and Infr Investrs from a “hold” rating to a “buy” rating in a report on Saturday, June 16th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Fortress Transprtn and Infr Investrs has an average rating of “Buy” and an average target price of $21.33.

FTAI stock opened at $18.78 on Friday. The company has a market cap of $1.55 billion, a P/E ratio of 104.33 and a beta of 1.50. Fortress Transprtn and Infr Investrs LLC has a 1-year low of $15.45 and a 1-year high of $20.13.

Fortress Transprtn and Infr Investrs (NYSE:FTAI) last posted its earnings results on Thursday, August 2nd. The financial services provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The business had revenue of $71.98 million for the quarter, compared to analyst estimates of $76.57 million. Fortress Transprtn and Infr Investrs had a return on equity of 1.33% and a net margin of 2.39%. The firm’s revenue was up 40.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 earnings per share. analysts anticipate that Fortress Transprtn and Infr Investrs LLC will post 0.32 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 28th. Investors of record on Friday, August 17th were paid a $0.33 dividend. The ex-dividend date was Thursday, August 16th. This represents a $1.32 annualized dividend and a yield of 7.03%. Fortress Transprtn and Infr Investrs’s dividend payout ratio (DPR) is presently 1,100.00%.

Fortress Transprtn and Infr Investrs Profile

Fortress Transportation and Infrastructure Investors LLC owns and acquires infrastructure and related equipment for the transportation of goods and people in Africa, Asia, Europe, North America, and South America. It operates in six segments: Aviation Leasing, Offshore Energy, Shipping Containers, Jefferson Terminal, Railroad, and Ports and Terminals.

Read More: Analyst Ratings

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Institutional Ownership by Quarter for Fortress Transprtn and Infr Investrs (NYSE:FTAI)

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