Air Lease Co. (NYSE:AL) Receives $57.60 Consensus PT from Brokerages

Shares of Air Lease Co. (NYSE:AL) have been given a consensus rating of “Buy” by the five research firms that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $57.60.

AL has been the topic of a number of recent research reports. The Goldman Sachs Group restated a “buy” rating and set a $65.00 price objective on shares of Air Lease in a research note on Thursday, November 21st. JPMorgan Chase & Co. boosted their price objective on Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th.

Air Lease Trading Up 2.3 %

Shares of AL opened at $48.57 on Monday. The stock’s 50-day moving average is $47.75 and its two-hundred day moving average is $46.34. The stock has a market cap of $5.41 billion, a PE ratio of 11.06, a P/E/G ratio of 1.55 and a beta of 1.61. Air Lease has a 12 month low of $39.15 and a 12 month high of $52.31. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.43 and a quick ratio of 0.43.

Air Lease Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, December 12th. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 1.81%. Air Lease’s dividend payout ratio is 20.05%.

Hedge Funds Weigh In On Air Lease

Several institutional investors have recently made changes to their positions in AL. SG Americas Securities LLC grew its holdings in shares of Air Lease by 381.7% during the second quarter. SG Americas Securities LLC now owns 12,255 shares of the transportation company’s stock valued at $582,000 after purchasing an additional 9,711 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Air Lease by 10.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 23,961 shares of the transportation company’s stock valued at $1,139,000 after purchasing an additional 2,204 shares during the last quarter. Blue Trust Inc. bought a new position in shares of Air Lease during the second quarter valued at approximately $325,000. Neo Ivy Capital Management bought a new position in shares of Air Lease during the second quarter valued at approximately $791,000. Finally, Louisiana State Employees Retirement System grew its holdings in shares of Air Lease by 2.0% during the second quarter. Louisiana State Employees Retirement System now owns 52,100 shares of the transportation company’s stock valued at $2,476,000 after purchasing an additional 1,000 shares during the last quarter. 94.59% of the stock is owned by institutional investors.

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.