Raymond James Cuts Fortress Transportation and Infrastructure Investors (NYSE:FTAI) Price Target to $23.00

Fortress Transportation and Infrastructure Investors (NYSE:FTAIGet Rating) had its target price reduced by Raymond James from $27.00 to $23.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Fortress Transportation and Infrastructure Investors Trading Down 2.6 %

NYSE FTAI opened at $18.23 on Tuesday. The firm has a market capitalization of $1.81 billion, a P/E ratio of -6.46 and a beta of 1.87. Fortress Transportation and Infrastructure Investors has a 12-month low of $16.74 and a 12-month high of $30.18. The firm’s fifty day simple moving average is $19.66 and its two-hundred day simple moving average is $22.47.

Fortress Transportation and Infrastructure Investors (NYSE:FTAIGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The financial services provider reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.22). The company had revenue of $177.93 million for the quarter, compared to analysts’ expectations of $172.93 million. Fortress Transportation and Infrastructure Investors had a negative net margin of 42.80% and a negative return on equity of 10.76%. Fortress Transportation and Infrastructure Investors’s quarterly revenue was up 83.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.38) earnings per share. As a group, sell-side analysts predict that Fortress Transportation and Infrastructure Investors will post 0.78 earnings per share for the current fiscal year.

Fortress Transportation and Infrastructure Investors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 29th. Shareholders of record on Monday, August 15th will be issued a $0.33 dividend. The ex-dividend date is Friday, August 12th. This represents a $1.32 dividend on an annualized basis and a yield of 7.24%. Fortress Transportation and Infrastructure Investors’s payout ratio is -46.81%.

Hedge Funds Weigh In On Fortress Transportation and Infrastructure Investors

A number of hedge funds have recently made changes to their positions in FTAI. Trust Co. of Vermont acquired a new stake in shares of Fortress Transportation and Infrastructure Investors in the 2nd quarter valued at $26,000. BlackRock Inc. acquired a new stake in Fortress Transportation and Infrastructure Investors during the 1st quarter worth $96,000. Endurance Wealth Management Inc. raised its stake in Fortress Transportation and Infrastructure Investors by 600.0% during the 2nd quarter. Endurance Wealth Management Inc. now owns 7,000 shares of the financial services provider’s stock worth $135,000 after acquiring an additional 6,000 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in Fortress Transportation and Infrastructure Investors during the 4th quarter worth $216,000. Finally, Altfest L J & Co. Inc. grew its position in Fortress Transportation and Infrastructure Investors by 49.8% during the 2nd quarter. Altfest L J & Co. Inc. now owns 15,684 shares of the financial services provider’s stock worth $303,000 after purchasing an additional 5,211 shares during the last quarter. Hedge funds and other institutional investors own 77.35% of the company’s stock.

About Fortress Transportation and Infrastructure Investors

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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 through three segments: Aviation Leasing, Jefferson Terminal, and Ports and Terminals.

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