Air Lease Co. (NYSE:AL) Short Interest Update

Air Lease Co. (NYSE:AL) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 3,130,000 shares, a growth of 6.1% from the October 15th total of 2,950,000 shares. Currently, 3.0% of the company’s stock are sold short. Based on an average trading volume of 660,300 shares, the days-to-cover ratio is presently 4.7 days.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AL shares. Barclays decreased their target price on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. TD Cowen began coverage on Air Lease in a report on Monday, July 29th. They issued a “buy” rating and a $58.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.75.

Hedge Funds Weigh In On Air Lease

Large investors have recently made changes to their positions in the stock. Eastern Bank purchased a new position in shares of Air Lease during the 3rd quarter valued at $27,000. Altshuler Shaham Ltd purchased a new position in shares of Air Lease during the 2nd quarter worth approximately $29,000. GAMMA Investing LLC boosted its stake in Air Lease by 108.1% during the second quarter. GAMMA Investing LLC now owns 1,201 shares of the transportation company’s stock worth $57,000 after acquiring an additional 624 shares in the last quarter. Hilltop National Bank grew its stake in shares of Air Lease by 33.8% in the second quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock worth $84,000 after acquiring an additional 448 shares during the last quarter. Finally, Monetary Management Group Inc. bought a new position in Air Lease in the 2nd quarter valued at approximately $95,000. 94.59% of the stock is owned by institutional investors.

Air Lease Stock Performance

AL traded up $0.02 during midday trading on Tuesday, reaching $48.26. The company had a trading volume of 189,057 shares, compared to its average volume of 961,110. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market cap of $5.38 billion, a PE ratio of 10.93, a P/E/G ratio of 1.44 and a beta of 1.59. The business has a 50-day moving average price of $44.96 and a two-hundred day moving average price of $46.12. Air Lease has a 12-month low of $37.65 and a 12-month high of $52.31.

Air Lease Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be given a $0.22 dividend. The ex-dividend date is Thursday, December 12th. This represents a $0.88 annualized dividend and a dividend yield of 1.82%. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s payout ratio is 19.13%.

About Air Lease

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.