Air Lease Co. (NYSE:AL) Short Interest Down 9.7% in November

Air Lease Co. (NYSE:AL) saw a large decrease in short interest in November. As of November 30th, there was short interest totalling 2,690,000 shares, a decrease of 9.7% from the November 15th total of 2,980,000 shares. Currently, 2.6% of the company’s shares are sold short. Based on an average daily trading volume, of 682,900 shares, the days-to-cover ratio is currently 3.9 days.

Institutional Trading of Air Lease

Large investors have recently made changes to their positions in the stock. Eastern Bank acquired a new position in Air Lease during the third quarter worth approximately $27,000. Altshuler Shaham Ltd purchased a new stake in shares of Air Lease during the 2nd quarter valued at $29,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Air Lease during the 3rd quarter worth $31,000. GAMMA Investing LLC raised its position in shares of Air Lease by 55.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,868 shares of the transportation company’s stock worth $85,000 after buying an additional 667 shares during the period. Finally, CWM LLC boosted its holdings in Air Lease by 16.5% in the second quarter. CWM LLC now owns 3,111 shares of the transportation company’s stock valued at $148,000 after acquiring an additional 440 shares during the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Wall Street Analysts Forecast Growth

AL has been the topic of a number of recent analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $65.00 target price on shares of Air Lease in a research report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price target on shares of Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Air Lease currently has an average rating of “Moderate Buy” and an average price target of $57.60.

Air Lease Price Performance

AL stock traded down $0.69 during trading on Tuesday, reaching $49.07. 972,550 shares of the company were exchanged, compared to its average volume of 934,036. Air Lease has a 52-week low of $39.15 and a 52-week high of $52.31. 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 market cap of $5.46 billion, a P/E ratio of 11.18, a PEG ratio of 1.55 and a beta of 1.61. The stock’s 50 day moving average price is $47.36 and its 200 day moving average price is $46.31.

Air Lease Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Thursday, December 12th. This is a boost from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s dividend payout ratio is 20.05%.

About Air Lease

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.