Advisors Capital Management LLC Invests $1.36 Million in Fortress Transprtn and Infr Investrs LLC (FTAI) Stock

Advisors Capital Management LLC acquired a new stake in Fortress Transprtn and Infr Investrs LLC (NYSE:FTAI) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 74,991 shares of the financial services provider’s stock, valued at approximately $1,363,000. Advisors Capital Management LLC owned about 0.09% of Fortress Transprtn and Infr Investrs at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FTAI. Wells Fargo & Company MN lifted its holdings in Fortress Transprtn and Infr Investrs by 32.4% in the 1st quarter. Wells Fargo & Company MN now owns 54,245 shares of the financial services provider’s stock valued at $865,000 after purchasing an additional 13,267 shares in the last quarter. BlackRock Inc. lifted its holdings in Fortress Transprtn and Infr Investrs by 1,940.6% in the 1st quarter. BlackRock Inc. now owns 39,485 shares of the financial services provider’s stock valued at $630,000 after purchasing an additional 37,550 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Fortress Transprtn and Infr Investrs by 6,073.0% in the 1st quarter. JPMorgan Chase & Co. now owns 166,671 shares of the financial services provider’s stock valued at $2,658,000 after purchasing an additional 163,971 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Fortress Transprtn and Infr Investrs by 92.1% in the 1st quarter. California Public Employees Retirement System now owns 80,869 shares of the financial services provider’s stock valued at $1,290,000 after purchasing an additional 38,779 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Fortress Transprtn and Infr Investrs by 36.2% in the 1st quarter. Russell Investments Group Ltd. now owns 823,187 shares of the financial services provider’s stock valued at $13,129,000 after purchasing an additional 218,858 shares in the last quarter. 32.93% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on FTAI shares. ValuEngine upgraded shares of Fortress Transprtn and Infr Investrs from a “hold” rating to a “buy” rating in a report on Saturday, June 16th. Zacks Investment Research lowered shares of Fortress Transprtn and Infr Investrs from a “hold” rating to a “sell” rating in a report on Thursday, July 5th. Finally, TheStreet upgraded shares of Fortress Transprtn and Infr Investrs from a “c+” rating to a “b” rating in a report on Friday, August 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Fortress Transprtn and Infr Investrs has a consensus rating of “Buy” and a consensus target price of $21.33.

Shares of FTAI stock opened at $17.90 on Friday. The stock has a market cap of $1.51 billion, a PE ratio of 149.17 and a beta of 1.50. Fortress Transprtn and Infr Investrs LLC has a 1-year low of $15.45 and a 1-year high of $20.13.

Fortress Transprtn and Infr Investrs (NYSE:FTAI) last announced its quarterly earnings data on Thursday, August 2nd. The financial services provider reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.08). The company had revenue of $71.98 million for the quarter, compared to analysts’ expectations of $76.57 million. Fortress Transprtn and Infr Investrs had a return on equity of 1.33% and a net margin of 2.39%. The company’s revenue was up 40.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.01 earnings per share. As a group, research analysts anticipate that Fortress Transprtn and Infr Investrs LLC will post 0.32 earnings per share for the current year.

Fortress Transprtn and Infr Investrs Company Profile

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 in six segments: Aviation Leasing, Offshore Energy, Shipping Containers, Jefferson Terminal, Railroad, and Ports and Terminals.

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Institutional Ownership by Quarter for Fortress Transprtn and Infr Investrs (NYSE:FTAI)

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