Air Lease (NYSE:AL) Stock Price Up 5.3% After Dividend Announcement

Air Lease Co. (NYSE:AL)’s share price traded up 5.3% during trading on Tuesday after the company announced a dividend. The company traded as high as $51.58 and last traded at $51.36. 246,651 shares traded hands during trading, a decline of 68% from the average session volume of 764,614 shares. The stock had previously closed at $48.76.

The newly announced dividend which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.71%. Air Lease’s payout ratio is 26.43%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AL. JPMorgan Chase & Co. upped their target price on Air Lease from $56.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Bank of America cut shares of Air Lease from a “buy” rating to an “underperform” rating and cut their price target for the company from $72.00 to $50.00 in a research report on Friday, March 7th. Finally, UBS Group set a $50.00 price target on shares of Air Lease in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.67.

Air Lease Price Performance

The business has a 50-day simple moving average of $45.39 and a 200 day simple moving average of $46.90. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market cap of $5.76 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33.

Air Lease (NYSE:AL) last issued its earnings results on Thursday, February 13th. The transportation company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.44. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. On average, analysts anticipate that Air Lease Co. will post 5.16 earnings per share for the current fiscal year.

Institutional Trading of Air Lease

Hedge funds have recently bought and sold shares of the stock. Alpine Bank Wealth Management purchased a new stake in Air Lease in the 1st quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new stake in Air Lease in the 4th quarter valued at about $28,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Air Lease during the third quarter worth approximately $31,000. SBI Securities Co. Ltd. purchased a new stake in Air Lease in the fourth quarter worth about $31,000. Finally, Engine Capital Management LP purchased a new stake in shares of Air Lease in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 94.59% of the company’s stock.

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.