Air Lease Co. (NYSE:AL) Sees Large Drop in Short Interest

Air Lease Co. (NYSE:AL) was the recipient of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 2,690,000 shares, a decline of 9.7% from the November 15th total of 2,980,000 shares. Approximately 2.6% of the shares of the company are short sold. Based on an average daily trading volume, of 682,900 shares, the days-to-cover ratio is presently 3.9 days.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AL shares. The Goldman Sachs Group restated a “buy” rating and set a $65.00 price objective on shares of Air Lease in a research report on Thursday, November 21st. JPMorgan Chase & Co. boosted their target price on Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $57.60.

Hedge Funds Weigh In On Air Lease

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new stake in shares of Air Lease in the 3rd quarter worth approximately $31,000. Rehmann Capital Advisory Group bought a new position in Air Lease in the 3rd quarter worth approximately $202,000. Geode Capital Management LLC raised its stake in Air Lease by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,630,317 shares of the transportation company’s stock valued at $73,858,000 after acquiring an additional 6,190 shares in the last quarter. Barclays PLC increased its holdings in shares of Air Lease by 104.6% during the third quarter. Barclays PLC now owns 86,033 shares of the transportation company’s stock valued at $3,897,000 after purchasing an additional 43,981 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its holdings in Air Lease by 91.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 16,017 shares of the transportation company’s stock worth $725,000 after purchasing an additional 7,659 shares during the period. Institutional investors and hedge funds own 94.59% of the company’s stock.

Air Lease Trading Down 1.4 %

Shares of NYSE:AL traded down $0.69 during midday trading on Tuesday, reaching $49.07. The company’s stock had a trading volume of 972,550 shares, compared to its average volume of 934,036. Air Lease has a 1 year low of $39.15 and a 1 year high of $52.31. The business has a 50 day moving average price of $47.36 and a 200 day moving average price of $46.31. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 1.55 and a beta of 1.61.

Air Lease Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Thursday, December 12th. This is an increase from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s dividend payout ratio is 20.05%.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.