Air Lease Co. (NYSE:AL) Plans Quarterly Dividend of $0.22

Air Lease Co. (NYSE:AL) announced a quarterly dividend on Thursday, February 13th,RTT News reports. Stockholders of record on Tuesday, March 18th will be paid a dividend of 0.22 per share by the transportation company on Monday, April 7th. This represents a $0.88 annualized dividend and a dividend yield of 1.90%.

Air Lease has increased its dividend payment by an average of 8.5% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Air Lease has a dividend payout ratio of 17.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Air Lease to earn $6.66 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 13.2%.

Air Lease Stock Performance

Shares of AL stock traded up $0.66 on Thursday, hitting $46.36. 727,104 shares of the stock were exchanged, compared to its average volume of 620,947. The firm’s 50 day moving average is $47.51 and its two-hundred day moving average is $46.25. Air Lease has a one year low of $39.35 and a one year high of $52.31. The firm has a market capitalization of $5.16 billion, a PE ratio of 10.56, a P/E/G ratio of 1.00 and a beta of 1.59. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.63.

Wall Street Analyst Weigh In

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

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.