Short Interest in Air Lease Co. (NYSE:AL) Expands By 6.1%

Air Lease Co. (NYSE:AL) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 3,130,000 shares, an increase of 6.1% from the October 15th total of 2,950,000 shares. Based on an average trading volume of 660,300 shares, the short-interest ratio is presently 4.7 days. Approximately 3.0% of the shares of the stock are sold short.

Air Lease Price Performance

Shares of NYSE:AL traded up $0.02 during midday trading on Tuesday, reaching $48.26. 189,057 shares of the company’s stock traded hands, compared to its average volume of 961,110. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.43 and a current ratio of 0.43. The company has a fifty day simple moving average of $44.96 and a two-hundred day simple moving average of $46.12. The company has a market cap of $5.38 billion, a P/E ratio of 10.93, a PEG ratio of 1.44 and a beta of 1.59. Air Lease has a 1 year low of $37.65 and a 1 year high of $52.31.

Air Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.82%. 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. Air Lease’s payout ratio is presently 19.13%.

Hedge Funds Weigh In On Air Lease

Several hedge funds and other institutional investors have recently made changes to their positions in AL. Janney Montgomery Scott LLC increased its stake in shares of Air Lease by 23.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,540 shares of the transportation company’s stock worth $748,000 after acquiring an additional 2,765 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Air Lease during the 1st quarter worth approximately $131,000. QRG Capital Management Inc. purchased a new stake in shares of Air Lease during the 1st quarter valued at approximately $337,000. State Board of Administration of Florida Retirement System lifted its holdings in Air Lease by 6.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 130,518 shares of the transportation company’s stock valued at $6,714,000 after acquiring an additional 8,411 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Air Lease by 23.6% in the first quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock worth $647,018,000 after acquiring an additional 2,404,649 shares during the period. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AL. JPMorgan Chase & Co. boosted their price objective 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. TD Cowen started coverage on Air Lease in a report on Monday, July 29th. They issued a “buy” rating and a $58.00 price target for the company. Finally, Barclays dropped their price target on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Air Lease has a consensus rating of “Moderate Buy” and a consensus target price of $55.75.

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.