Air Lease Corporation (NYSE:AL) Plans $0.22 Quarterly Dividend

Key Points

• Air Lease Corporation has announced a quarterly dividend of $0.22 per share, with an annualized yield of 1.6%, payable on October 8th to investors of record on September 3rd.
• The company reported earnings of $1.29 per share for the last quarter, falling short of the $1.33 forecast by analysts, with a return on equity of 8.04%.
• Insider selling was noted as EVP Grant A. Levy sold 10,000 shares at an average price of $56.85, leading to a 6.40% decrease in his holdings.

Air Lease Corporation (NYSE:AL - Get Free Report) declared a quarterly dividend on Monday, August 4th, RTT News reports. Investors of record on Wednesday, September 3rd will be paid a dividend of 0.22 per share by the transportation company on Wednesday, October 8th. This represents a c) annualized dividend and a yield of 1.6%.

Air Lease has a payout ratio of 17.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Air Lease to earn $7.28 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 12.1%.

Air Lease Price Performance

Shares of NYSE AL traded up $0.77 during midday trading on Monday, reaching $55.12. 1,225,176 shares of the company traded hands, compared to its average volume of 848,550. The firm has a market cap of $6.16 billion, a PE ratio of 9.64, a PEG ratio of 0.59 and a beta of 1.41. The stock's 50-day simple moving average is $57.60 and its 200-day simple moving average is $51.05. Air Lease has a 12 month low of $38.25 and a 12 month high of $60.41. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.39 and a current ratio of 0.39.

Air Lease (NYSE:AL - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The transportation company reported $1.29 EPS for the quarter, missing analysts' consensus estimates of $1.33 by ($0.04). Air Lease had a return on equity of 8.04% and a net margin of 24.77%. As a group, equities analysts anticipate that Air Lease will post 5.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Air Lease

In other Air Lease news, EVP Grant A. Levy sold 10,000 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $56.85, for a total value of $568,500.00. Following the transaction, the executive vice president directly owned 146,316 shares in the company, valued at $8,318,064.60. This represents a 6.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.80% of the company's stock.

Institutional Investors Weigh In On Air Lease

Several institutional investors and hedge funds have recently bought and sold shares of the business. Alpine Bank Wealth Management bought a new position in Air Lease during the 1st quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd purchased a new position in Air Lease during the fourth quarter valued at $28,000. Brooklyn Investment Group lifted its position in Air Lease by 152.4% during the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company's stock valued at $28,000 after purchasing an additional 355 shares in the last quarter. Versant Capital Management Inc lifted its position in Air Lease by 88.1% during the first quarter. Versant Capital Management Inc now owns 743 shares of the transportation company's stock valued at $36,000 after purchasing an additional 348 shares in the last quarter. Finally, Engine Capital Management LP purchased a new position in Air Lease during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 94.59% of the company's stock.

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.

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