Aircastle Limited (NYSE:AYR) announced a quarterly dividend on Wednesday, August 9th, Wall Street Journal reports. Investors of record on Thursday, August 31st will be given a dividend of 0.26 per share by the transportation company on Friday, September 15th. This represents a $1.04 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend is Tuesday, August 29th.

Aircastle Limited has raised its dividend by an average of 12.1% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Aircastle Limited has a payout ratio of 46.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Aircastle Limited to earn $2.45 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 42.4%.

Aircastle Limited (AYR) traded down 3.62% during midday trading on Wednesday, hitting $23.16. 523,334 shares of the company traded hands. The stock has a market cap of $1.82 billion, a P/E ratio of 11.58 and a beta of 1.81. Aircastle Limited has a 12-month low of $18.26 and a 12-month high of $25.98. The stock has a 50 day moving average of $22.27 and a 200 day moving average of $22.85.

Aircastle Limited (NYSE:AYR) last released its earnings results on Tuesday, August 8th. The transportation company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by $0.58. The firm had revenue of $223.53 million for the quarter, compared to analyst estimates of $206.10 million. Aircastle Limited had a return on equity of 8.88% and a net margin of 19.81%. Aircastle Limited’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 earnings per share. Equities research analysts predict that Aircastle Limited will post $2.34 EPS for the current fiscal year.

A number of research analysts recently issued reports on AYR shares. Zacks Investment Research raised Aircastle Limited from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Tuesday, July 4th. FBR & Co lowered their target price on Aircastle Limited from $27.50 to $26.00 and set a “market perform” rating on the stock in a report on Thursday, May 4th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $24.00 target price (down from $26.00) on shares of Aircastle Limited in a report on Thursday, May 25th. Barclays PLC started coverage on Aircastle Limited in a report on Monday, July 10th. They set an “equal weight” rating and a $24.00 target price on the stock. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $25.00 target price on shares of Aircastle Limited in a report on Friday, April 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.20.

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Aircastle Limited Company Profile

Aircastle Limited is a holding company. The Company, through its subsidiaries, acquires, leases and sells commercial jet aircrafts to airlines. The Company is engaged in financing and managing commercial flight equipment. The Company manages its aircrafts in the United States, Ireland and Singapore. As of December 31, 2016, the Company owned and managed on behalf of its joint ventures 206 aircrafts leased to 71 lessees located in 36 countries.

Dividend History for Aircastle Limited (NYSE:AYR)

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