Air Lease Co. (NYSE:AL) Sees Large Growth in Short Interest

Air Lease Co. (NYSE:AL) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 2,890,000 shares, an increase of 7.4% from the November 30th total of 2,690,000 shares. Currently, 2.8% of the shares of the company are sold short. Based on an average trading volume of 668,600 shares, the days-to-cover ratio is presently 4.3 days.

Institutional Investors Weigh In On Air Lease

A number of large investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Air Lease during the 3rd quarter worth $872,000. American Century Companies Inc. boosted its stake in shares of Air Lease by 5.0% in the 2nd quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company’s stock valued at $115,673,000 after purchasing an additional 115,293 shares in the last quarter. BCGM Wealth Management LLC acquired a new stake in shares of Air Lease in the 3rd quarter valued at approximately $1,899,000. Public Sector Pension Investment Board grew its holdings in shares of Air Lease by 7.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 227,921 shares of the transportation company’s stock valued at $10,833,000 after purchasing an additional 16,281 shares during the last quarter. Finally, Hahn Capital Management LLC grew its holdings in shares of Air Lease by 20.2% during the 2nd quarter. Hahn Capital Management LLC now owns 131,470 shares of the transportation company’s stock valued at $6,249,000 after purchasing an additional 22,053 shares during the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Air Lease Price Performance

Shares of NYSE:AL opened at $48.21 on Thursday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.63. The stock has a market capitalization of $5.37 billion, a PE ratio of 10.98, a PEG ratio of 1.55 and a beta of 1.61. The firm has a 50 day moving average of $48.45 and a 200-day moving average of $46.50. Air Lease has a 12 month low of $39.15 and a 12 month high of $52.31.

Air Lease Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, December 12th. This is a boost from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 1.83%. Air Lease’s dividend payout ratio is presently 20.05%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AL shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $65.00 target price on shares of Air Lease in a report on Thursday, November 21st. JPMorgan Chase & Co. raised their price objective on Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $57.60.

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.