Air Lease Corporation (NYSE:AL) shot up 0% on Monday after the company announced a dividend. The stock traded as high as $42.57 and last traded at $42.56, with a volume of 306,372 shares traded. The stock had previously closed at $42.56.

The newly announced dividend which will be paid on Friday, October 6th. Stockholders of record on Wednesday, September 13th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.71%. Air Lease Corporation’s dividend payout ratio is 8.70%.

A number of research analysts have commented on AL shares. ValuEngine upgraded Air Lease Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Cowen and Company boosted their target price on Air Lease Corporation from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. BidaskClub upgraded Air Lease Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Zacks Investment Research upgraded Air Lease Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Air Lease Corporation in a research note on Monday, May 15th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Air Lease Corporation currently has a consensus rating of “Buy” and an average target price of $45.43.

The company has a market capitalization of $4.38 billion, a P/E ratio of 12.65 and a beta of 1.78. The stock has a 50 day moving average of $38.61 and a 200-day moving average of $37.92.

Air Lease Corporation (NYSE:AL) last announced its quarterly earnings data on Thursday, August 3rd. The transportation company reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.08. The company had revenue of $380.59 million during the quarter, compared to analysts’ expectations of $375.14 million. Air Lease Corporation had a return on equity of 10.99% and a net margin of 25.64%. Air Lease Corporation’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.39 EPS. Analysts expect that Air Lease Corporation will post $3.45 earnings per share for the current year.

In other news, EVP Kishore Korde sold 2,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $38.00, for a total value of $76,000.00. Following the completion of the transaction, the executive vice president now owns 86,410 shares in the company, valued at approximately $3,283,580. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Grant A. Levy sold 27,854 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $38.16, for a total value of $1,062,908.64. Following the completion of the transaction, the executive vice president now owns 210,824 shares of the company’s stock, valued at approximately $8,045,043.84. The disclosure for this sale can be found here. 9.76% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. boosted its position in shares of Air Lease Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 12,316 shares of the transportation company’s stock valued at $460,000 after buying an additional 32 shares during the last quarter. Bank of Montreal Can boosted its position in Air Lease Corporation by 0.9% in the first quarter. Bank of Montreal Can now owns 3,856 shares of the transportation company’s stock worth $150,000 after buying an additional 35 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Air Lease Corporation by 1.7% in the second quarter. Teacher Retirement System of Texas now owns 7,877 shares of the transportation company’s stock worth $294,000 after buying an additional 134 shares during the last quarter. Garrison Bradford & Associates Inc. boosted its position in Air Lease Corporation by 0.9% in the first quarter. Garrison Bradford & Associates Inc. now owns 21,900 shares of the transportation company’s stock worth $849,000 after buying an additional 200 shares during the last quarter. Finally, Utah Retirement Systems boosted its position in Air Lease Corporation by 1.1% in the second quarter. Utah Retirement Systems now owns 17,635 shares of the transportation company’s stock worth $659,000 after buying an additional 200 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

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About Air Lease Corporation

Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.

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