Short Interest in Air Lease Corporation (NYSE:AL) Rises By 39.0%

Air Lease Corporation (NYSE:AL) saw a significant growth in short interest in February. As of February 13th, there was short interest totaling 3,167,761 shares, a growth of 39.0% from the January 29th total of 2,279,286 shares. Currently, 3.0% of the shares of the company are short sold. Based on an average daily volume of 1,803,003 shares, the short-interest ratio is presently 1.8 days. Based on an average daily volume of 1,803,003 shares, the short-interest ratio is presently 1.8 days. Currently, 3.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AL shares. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, January 21st. Barclays reaffirmed an “equal weight” rating and issued a $65.00 target price (down from $68.00) on shares of Air Lease in a report on Tuesday, January 6th. Finally, Zacks Research raised Air Lease from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $59.60.

Insider Buying and Selling at Air Lease

In related news, Director Steven F. Udvar-Hazy sold 19,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $64.12, for a total transaction of $1,218,280.00. Following the completion of the transaction, the director directly owned 1,391,366 shares in the company, valued at approximately $89,214,387.92. The trade was a 1.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kishore Korde sold 20,662 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $64.10, for a total transaction of $1,324,434.20. Following the completion of the sale, the executive vice president directly owned 50,091 shares of the company’s stock, valued at $3,210,833.10. This represents a 29.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 595,958 shares of company stock valued at $38,158,193. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Air Lease

A number of large investors have recently added to or reduced their stakes in AL. Archer Investment Corp boosted its position in shares of Air Lease by 5.1% during the 3rd quarter. Archer Investment Corp now owns 3,415 shares of the transportation company’s stock valued at $217,000 after acquiring an additional 165 shares during the last quarter. Hantz Financial Services Inc. increased its position in Air Lease by 33.0% in the fourth quarter. Hantz Financial Services Inc. now owns 726 shares of the transportation company’s stock worth $47,000 after purchasing an additional 180 shares during the last quarter. Sage Rhino Capital LLC raised its stake in Air Lease by 4.8% during the third quarter. Sage Rhino Capital LLC now owns 3,982 shares of the transportation company’s stock valued at $253,000 after purchasing an additional 181 shares in the last quarter. IFP Advisors Inc raised its stake in Air Lease by 33.0% during the fourth quarter. IFP Advisors Inc now owns 777 shares of the transportation company’s stock valued at $50,000 after purchasing an additional 193 shares in the last quarter. Finally, Eastern Bank lifted its position in Air Lease by 33.2% during the third quarter. Eastern Bank now owns 799 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 199 shares during the last quarter. Institutional investors own 94.59% of the company’s stock.

Air Lease Price Performance

AL stock opened at $64.87 on Monday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.46 and a current ratio of 0.46. The company’s fifty day moving average price is $64.47 and its 200-day moving average price is $63.59. Air Lease has a one year low of $38.25 and a one year high of $64.96. The company has a market capitalization of $7.27 billion, a PE ratio of 6.97, a price-to-earnings-growth ratio of 0.54 and a beta of 1.11.

Air Lease (NYSE:AL) last announced its quarterly earnings results on Thursday, February 12th. The transportation company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.74. The company had revenue of $679.54 million for the quarter, compared to the consensus estimate of $782.67 million. Air Lease had a net margin of 35.72% and a return on equity of 8.54%. Air Lease’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 EPS. On average, equities analysts anticipate that Air Lease will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Investors of record on Monday, March 2nd will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, March 2nd. Air Lease’s payout ratio is currently 9.45%.

Air Lease Company Profile

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.