Geode Capital Management LLC Buys 53,340 Shares of FTAI Infrastructure Inc. (NASDAQ:FIP)

Geode Capital Management LLC increased its stake in FTAI Infrastructure Inc. (NASDAQ:FIP) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,427,301 shares of the company’s stock after buying an additional 53,340 shares during the quarter. Geode Capital Management LLC owned about 2.13% of FTAI Infrastructure worth $22,724,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. US Bancorp DE bought a new stake in shares of FTAI Infrastructure during the third quarter worth $52,000. Algert Global LLC bought a new stake in shares of FTAI Infrastructure during the second quarter worth $88,000. Cladis Investment Advisory LLC bought a new stake in shares of FTAI Infrastructure during the third quarter worth $94,000. Choreo LLC bought a new stake in shares of FTAI Infrastructure during the second quarter worth $100,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of FTAI Infrastructure during the second quarter worth $134,000. 87.43% of the stock is currently owned by institutional investors.

FTAI Infrastructure Stock Performance

FIP stock opened at $7.11 on Friday. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.42 and a quick ratio of 1.42. The business has a 50-day moving average price of $8.39 and a 200 day moving average price of $8.88. The company has a market capitalization of $808.73 million, a P/E ratio of -3.59 and a beta of 1.34. FTAI Infrastructure Inc. has a 1-year low of $3.42 and a 1-year high of $10.45.

FTAI Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th were paid a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.12 annualized dividend and a yield of 1.69%. FTAI Infrastructure’s dividend payout ratio (DPR) is presently -6.06%.

FTAI Infrastructure Profile

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.