FTAI Infrastructure Inc. (NASDAQ:FIP – Get Free Report) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Monday, August 12th will be paid a dividend of 0.03 per share on Tuesday, August 20th. This represents a $0.12 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, August 12th.
FTAI Infrastructure has a payout ratio of -18.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
FTAI Infrastructure Price Performance
Shares of FTAI Infrastructure stock traded down $0.20 on Friday, hitting $9.83. 1,570,202 shares of the company were exchanged, compared to its average volume of 1,564,174. The stock has a market capitalization of $999.61 million, a price-to-earnings ratio of -5.07 and a beta of 1.31. The company has a 50-day moving average price of $8.89 and a 200 day moving average price of $6.93. FTAI Infrastructure has a 1-year low of $2.84 and a 1-year high of $10.45. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.95.
Analyst Ratings Changes
FIP has been the topic of several analyst reports. BTIG Research lifted their price target on shares of FTAI Infrastructure from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. JMP Securities lifted their price target on shares of FTAI Infrastructure from $11.00 to $12.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 23rd.
Read Our Latest Stock Report on FIP
About FTAI Infrastructure
FTAI Infrastructure Inc focuses on acquiring, developing, and operating assets and businesses that represent infrastructure for customers in the transportation, energy, and industrial products industries in North America. The company operates through five segments: Railroad, Jefferson Terminal, Repauno, Power and Gas, and Sustainability and Energy Transition.
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