Air Lease Co. (NYSE:AL) Short Interest Down 10.3% in September

Air Lease Co. (NYSE:AL) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 2,870,000 shares, a drop of 10.3% from the September 15th total of 3,200,000 shares. Approximately 2.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 766,800 shares, the days-to-cover ratio is currently 3.7 days.

Air Lease Price Performance

NYSE AL traded down $0.14 during trading hours on Thursday, hitting $44.93. The company had a trading volume of 159,241 shares, compared to its average volume of 990,528. The firm has a 50 day simple moving average of $44.27 and a 200 day simple moving average of $46.80. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 1.29 and a beta of 1.59. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.50 and a current ratio of 0.50. Air Lease has a 52 week low of $33.33 and a 52 week high of $52.31.

Air Lease (NYSE:AL) last announced its quarterly earnings results on Thursday, August 1st. The transportation company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.41). Air Lease had a net margin of 20.85% and a return on equity of 8.97%. The business had revenue of $667.29 million for the quarter, compared to analysts’ expectations of $687.93 million. Equities research analysts expect that Air Lease will post 4.83 earnings per share for the current year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Friday, September 6th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Friday, September 6th. Air Lease’s dividend payout ratio is currently 16.94%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. TD Cowen began coverage on shares of Air Lease in a research report on Monday, July 29th. They issued a “buy” rating and a $58.00 price objective for the company. Barclays lowered their price objective on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.75.

Institutional Investors Weigh In On Air Lease

Several large investors have recently bought and sold shares of AL. GSA Capital Partners LLP grew its stake in Air Lease by 1.2% during the 1st quarter. GSA Capital Partners LLP now owns 18,776 shares of the transportation company’s stock worth $966,000 after buying an additional 217 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Air Lease by 1.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 21,757 shares of the transportation company’s stock worth $1,119,000 after acquiring an additional 291 shares during the period. CWM LLC increased its stake in Air Lease by 16.5% during the second quarter. CWM LLC now owns 3,111 shares of the transportation company’s stock worth $148,000 after acquiring an additional 440 shares during the last quarter. Hilltop National Bank boosted its position in shares of Air Lease by 33.8% during the 2nd quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock worth $84,000 after purchasing an additional 448 shares during the period. Finally, Fulton Bank N.A. boosted its holdings in Air Lease by 6.6% during the 3rd quarter. Fulton Bank N.A. now owns 9,588 shares of the transportation company’s stock valued at $434,000 after acquiring an additional 597 shares during the period. 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.