Air Lease Co. Declares Quarterly Dividend of $0.21 (NYSE:AL)

Air Lease Co. (NYSE:AL) announced a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Stockholders of record on Tuesday, June 4th will be paid a dividend of 0.21 per share by the transportation company on Monday, July 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Tuesday, June 4th.

Air Lease has raised its dividend by an average of 9.9% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Air Lease has a payout ratio of 15.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Air Lease to earn $7.61 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 11.0%.

Air Lease Trading Down 7.3 %

Shares of Air Lease stock traded down $3.76 during trading on Tuesday, reaching $47.79. The company’s stock had a trading volume of 3,284,281 shares, compared to its average volume of 1,314,940. Air Lease has a 52-week low of $33.33 and a 52-week high of $52.31. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 0.64 and a beta of 1.63. The firm’s 50-day moving average is $47.93 and its two-hundred day moving average is $42.52. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.68.

Air Lease (NYSE:AL) last announced its quarterly earnings data on Monday, May 6th. The transportation company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.43). The business had revenue of $663.31 million during the quarter, compared to analysts’ expectations of $677.26 million. Air Lease had a net margin of 22.89% and a return on equity of 8.87%. Air Lease’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the company posted $1.06 EPS. On average, sell-side analysts anticipate that Air Lease will post 6.22 earnings per share for the current year.

Analysts Set New Price Targets

AL has been the subject of several analyst reports. TD Cowen dropped their price target on shares of Air Lease from $59.00 to $56.00 and set a “buy” rating for the company in a research report on Tuesday. StockNews.com cut shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Barclays increased their price target on shares of Air Lease from $48.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Finally, BMO Capital Markets lifted their target price on shares of Air Lease from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Air Lease presently has a consensus rating of “Moderate Buy” and an average target price of $53.80.

Insiders Place Their Bets

In other Air Lease news, EVP Alex A. Khatibi sold 11,199 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $47.37, for a total value of $530,496.63. Following the completion of the transaction, the executive vice president now directly owns 76,300 shares in the company, valued at $3,614,331. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Air Lease news, EVP Alex A. Khatibi sold 11,199 shares of Air Lease stock in a transaction on Friday, March 15th. The shares were sold at an average price of $47.37, for a total value of $530,496.63. Following the sale, the executive vice president now directly owns 76,300 shares in the company, valued at approximately $3,614,331. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John L. Plueger sold 28,515 shares of Air Lease stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $40.06, for a total transaction of $1,142,310.90. Following the completion of the sale, the chief executive officer now owns 808,842 shares in the company, valued at $32,402,210.52. The disclosure for this sale can be found here. Insiders sold a total of 89,646 shares of company stock worth $3,705,152 over the last three months. 6.64% of the stock is currently owned by company insiders.

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.