Air Lease (NYSE:AL) Reaches New 52-Week High After Dividend Announcement

by · The Markets Daily

Shares of Air Lease Corporation (NYSE:ALGet Free Report) hit a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as $64.71 and last traded at $64.7350, with a volume of 577202 shares. The stock had previously closed at $64.67.

The newly announced dividend which will be paid on Tuesday, April 7th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, March 2nd. Air Lease’s dividend payout ratio is 9.45%.

Analysts Set New Price Targets

A number of research firms have issued reports on AL. Zacks Research raised Air Lease from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, January 21st. Finally, Barclays restated an “equal weight” rating and issued a $65.00 price objective (down previously from $68.00) on shares of Air Lease in a research note on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $59.17.

Check Out Our Latest Research Report on AL

Air Lease Stock Up 0.1%

The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.42. The business’s fifty day moving average price is $64.32 and its 200 day moving average price is $62.85. The company has a market capitalization of $7.24 billion, a P/E ratio of 6.95, a P/E/G ratio of 0.56 and a beta of 1.13.

Air Lease (NYSE:ALGet Free Report) last announced its quarterly earnings results on Thursday, February 12th. The transportation company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.74. The firm had revenue of $679.54 million during the quarter, compared to analysts’ expectations of $782.67 million. Air Lease had a net margin of 35.72% and a return on equity of 8.63%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.83 earnings per share. As a group, equities research analysts predict that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Air Lease

In other Air Lease news, Director Steven F. Udvar-Hazy sold 64,000 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $64.02, for a total value of $4,097,280.00. Following the transaction, the director owned 74,000 shares of the company’s stock, valued at approximately $4,737,480. The trade was a 46.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John L. Plueger sold 155,821 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $64.03, for a total value of $9,977,218.63. Following the completion of the sale, the chief executive officer owned 725,941 shares of the company’s stock, valued at approximately $46,482,002.23. This trade represents a 17.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 692,185 shares of company stock worth $44,301,155 over the last ninety days. Corporate insiders own 6.64% of the company’s stock.

Institutional Trading of Air Lease

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Glazer Capital LLC raised its stake in shares of Air Lease by 1,253.0% during the fourth quarter. Glazer Capital LLC now owns 2,414,969 shares of the transportation company’s stock worth $155,113,000 after buying an additional 2,236,473 shares during the last quarter. Pentwater Capital Management LP bought a new position in shares of Air Lease in the 3rd quarter worth $140,030,000. AQR Capital Management LLC grew its stake in shares of Air Lease by 930.1% during the third quarter. AQR Capital Management LLC now owns 2,283,492 shares of the transportation company’s stock worth $145,321,000 after purchasing an additional 2,061,817 shares during the period. UBS Group AG increased its holdings in Air Lease by 269.9% in the fourth quarter. UBS Group AG now owns 2,818,667 shares of the transportation company’s stock valued at $181,043,000 after purchasing an additional 2,056,637 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new position in Air Lease in the third quarter valued at about $100,534,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.

About Air Lease

(Get Free Report)

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.

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