Teachers Retirement System of The State of Kentucky Grows Position in FTAI Infrastructure Inc. $FIP

Teachers Retirement System of The State of Kentucky boosted its position in shares of FTAI Infrastructure Inc. (NASDAQ:FIP) by 43.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 433,930 shares of the company’s stock after buying an additional 131,521 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.37% of FTAI Infrastructure worth $2,144,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FIP. Wellington Management Group LLP grew its position in shares of FTAI Infrastructure by 73.5% during the fourth quarter. Wellington Management Group LLP now owns 11,513,151 shares of the company’s stock worth $53,076,000 after acquiring an additional 4,875,802 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of FTAI Infrastructure by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 6,281,484 shares of the company’s stock valued at $27,387,000 after acquiring an additional 294,002 shares during the period. Alliancebernstein L.P. raised its position in FTAI Infrastructure by 3,990.2% in the 3rd quarter. Alliancebernstein L.P. now owns 4,009,630 shares of the company’s stock valued at $17,482,000 after purchasing an additional 3,911,600 shares during the last quarter. Geode Capital Management LLC raised its position in FTAI Infrastructure by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,686,678 shares of the company’s stock valued at $12,387,000 after purchasing an additional 18,421 shares during the last quarter. Finally, Royce & Associates LP raised its position in FTAI Infrastructure by 24.4% in the 4th quarter. Royce & Associates LP now owns 2,682,778 shares of the company’s stock valued at $12,368,000 after purchasing an additional 527,000 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling at FTAI Infrastructure

In other FTAI Infrastructure news, CFO Carl Russell Iv Fletcher purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were purchased at an average cost of $4.58 per share, for a total transaction of $45,800.00. Following the completion of the purchase, the chief financial officer directly owned 40,000 shares in the company, valued at $183,200. This represents a 33.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.17% of the stock is currently owned by company insiders.

FTAI Infrastructure Stock Down 0.7%

Shares of FTAI Infrastructure stock opened at $4.46 on Wednesday. The firm has a market cap of $526.99 million, a price-to-earnings ratio of -0.99 and a beta of 1.76. FTAI Infrastructure Inc. has a 52-week low of $3.90 and a 52-week high of $7.93. The company’s 50-day simple moving average is $4.59 and its 200-day simple moving average is $5.20.

FTAI Infrastructure (NASDAQ:FIP) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.90). FTAI Infrastructure had a negative net margin of 68.58% and a negative return on equity of 147.01%. The firm had revenue of $188.36 million during the quarter, compared to analyst estimates of $182.41 million. The business’s quarterly revenue was up 95.8% compared to the same quarter last year.

FTAI Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, May 18th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, May 18th. FTAI Infrastructure’s dividend payout ratio (DPR) is currently -2.66%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. BTIG Research lowered their price objective on shares of FTAI Infrastructure from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. JonesTrading started coverage on shares of FTAI Infrastructure in a report on Wednesday, July 1st. They issued a “buy” rating and a $8.75 target price for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of FTAI Infrastructure in a research note on Friday, June 12th. Compass Point set a $12.00 price target on FTAI Infrastructure in a report on Tuesday, June 30th. Finally, Wall Street Zen upgraded FTAI Infrastructure from a “strong sell” rating to a “sell” rating in a research report on Sunday. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.92.

About FTAI Infrastructure

FTAI Infrastructure Ltd (NASDAQ: FIP) is a closed-end investment company that acquires and manages infrastructure assets offering stable, long-term cash flows. The company targets core and core-plus infrastructure sectors with contracted or regulated revenue streams, aiming to deliver attractive risk-adjusted returns for its shareholders. FTAI Infrastructure’s portfolio is diversified across multiple sub-sectors, geographies and counterparties to manage risk and capture growth opportunities in global infrastructure markets.

The company focuses on three primary investment categories: communications infrastructure, transport and logistics infrastructure, and utility infrastructure.