New Jersey Better Educational Savings Trust lowered its stake in Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) by 12.5% during the second quarter, Holdings Channel reports. The firm owned 42,000 shares of the financial services provider’s stock after selling 6,000 shares during the period. New Jersey Better Educational Savings Trust’s holdings in Fortress Transportation and Infrastructure Investors were worth $669,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Global X Management Co. LLC acquired a new position in Fortress Transportation and Infrastructure Investors during the first quarter worth approximately $7,486,000. Royce & Associates LP increased its position in Fortress Transportation and Infrastructure Investors by 23.4% in the first quarter. Royce & Associates LP now owns 229,110 shares of the financial services provider’s stock worth $3,416,000 after buying an additional 43,500 shares during the last quarter. California Public Employees Retirement System acquired a new position in Fortress Transportation and Infrastructure Investors during the first quarter worth approximately $228,000. Stifel Financial Corp increased its position in Fortress Transportation and Infrastructure Investors by 5.2% in the first quarter. Stifel Financial Corp now owns 20,300 shares of the financial services provider’s stock worth $302,000 after buying an additional 1,000 shares during the last quarter. Finally, Silver Capital Management LLC acquired a new position in Fortress Transportation and Infrastructure Investors during the first quarter worth approximately $475,000. Institutional investors own 26.13% of the company’s stock.

Fortress Transportation and Infrastructure Investors LLC (NYSE FTAI) opened at 17.94 on Thursday. The stock’s market cap is $1.36 billion. The company’s 50-day moving average price is $16.52 and its 200-day moving average price is $15.63. Fortress Transportation and Infrastructure Investors LLC has a 1-year low of $11.35 and a 1-year high of $18.41.

Fortress Transportation and Infrastructure Investors (NYSE:FTAI) last announced its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.04. The firm had revenue of $51.20 million during 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 firm’s quarterly revenue was up 54.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.07) earnings per share. Analysts predict that Fortress Transportation and Infrastructure Investors LLC will post $0.24 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Friday, August 18th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 7.36%. The ex-dividend date of this dividend is Wednesday, August 16th. Fortress Transportation and Infrastructure Investors’s dividend payout ratio is currently -1,100.00%.

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A number of research analysts have recently commented on FTAI shares. JMP Securities increased their price objective on Fortress Transportation and Infrastructure Investors from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 8th. Zacks Investment Research downgraded Fortress Transportation and Infrastructure Investors from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 9th. BidaskClub downgraded Fortress Transportation and Infrastructure Investors from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, TheStreet upgraded Fortress Transportation and Infrastructure Investors from a “c” rating to a “b-” rating in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $16.88.

In other news, Director Paul R. Goodwin acquired 5,000 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was purchased at an average cost of $17.00 per share, with a total value of $85,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.87% of the stock is owned by insiders.

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.

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

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