Short Interest in Air Lease Co. (NYSE:AL) Increases By 7.4%

Air Lease Co. (NYSE:AL) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 2,890,000 shares, a growth of 7.4% from the November 30th total of 2,690,000 shares. Approximately 2.8% of the company’s stock are short sold. Based on an average daily volume of 668,600 shares, the days-to-cover ratio is currently 4.3 days.

Institutional Trading of Air Lease

Hedge funds have recently added to or reduced their stakes in the company. Eastern Bank acquired a new position in Air Lease in the 3rd quarter worth about $27,000. Altshuler Shaham Ltd purchased a new stake in shares of Air Lease in the second quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Air Lease during the 3rd quarter worth approximately $31,000. GAMMA Investing LLC lifted its position in shares of Air Lease by 55.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,868 shares of the transportation company’s stock valued at $85,000 after buying an additional 667 shares in the last quarter. Finally, KBC Group NV grew its stake in Air Lease by 20.0% in the 3rd quarter. KBC Group NV now owns 3,345 shares of the transportation company’s stock valued at $151,000 after acquiring an additional 557 shares during the period. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Stock Performance

NYSE AL traded up $0.17 on Wednesday, reaching $48.21. 388,160 shares of the company’s stock traded hands, compared to its average volume of 923,321. The stock has a 50 day moving average price of $48.45 and a 200-day moving average price of $46.50. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 10.98, a P/E/G ratio of 1.55 and a beta of 1.61. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.43 and a current ratio of 0.43. Air Lease has a fifty-two week low of $39.15 and a fifty-two week high of $52.31.

Air Lease Increases Dividend

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

Analyst Ratings Changes

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

Air Lease Company Profile

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.