Aircastle Limited (NYSE:AYR) saw a large drop in short interest in November. As of November 15th, there was short interest totalling 850,200 shares, a drop of 7.2% from the October 31st total of 916,000 shares. Approximately 1.7% of the shares of the company are short sold. Based on an average daily trading volume, of 491,800 shares, the days-to-cover ratio is currently 1.7 days.
Several institutional investors have recently added to or reduced their stakes in AYR. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Aircastle during the 3rd quarter valued at about $34,000. SG Americas Securities LLC grew its stake in shares of Aircastle by 45.5% during the 3rd quarter. SG Americas Securities LLC now owns 7,491 shares of the transportation company’s stock valued at $168,000 after purchasing an additional 2,342 shares during the period. Private Advisor Group LLC bought a new stake in shares of Aircastle during the 2nd quarter valued at about $210,000. Raymond James Trust N.A. bought a new stake in shares of Aircastle during the 3rd quarter valued at about $211,000. Finally, Advisor Group Inc. grew its stake in shares of Aircastle by 40.1% during the 2nd quarter. Advisor Group Inc. now owns 10,539 shares of the transportation company’s stock valued at $225,000 after purchasing an additional 3,016 shares during the period. Institutional investors and hedge funds own 57.24% of the company’s stock.
Several equities research analysts recently commented on AYR shares. Zacks Investment Research upgraded Aircastle from a “sell” rating to a “hold” rating in a report on Monday, November 25th. Goldman Sachs Group upgraded Aircastle from a “sell” rating to a “neutral” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. upgraded Aircastle from an “underweight” rating to a “neutral” rating in a report on Wednesday, October 23rd. ValuEngine upgraded Aircastle from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Cowen downgraded Aircastle from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $29.00 to $32.00 in a report on Friday, November 8th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $23.71.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.32 per share. This is an increase from Aircastle’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Wednesday, November 27th. Aircastle’s payout ratio is currently 40.38%.
Aircastle Company Profile
Aircastle Limited, through its subsidiaries, leases, finances, sells, and manages commercial flight equipment to airlines worldwide. As of December 31, 2018, its aircraft portfolio comprised 261 aircraft leased to 81 lessees located in 44 countries. Aircastle Limited was founded in 2004 and is based in Stamford, Connecticut.
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