Air Lease Corporation (NYSE:AL) Short Interest Update

Key Points

• Air Lease Corporation experienced a significant decline in short interest, with a reduction of 32.1% in September, bringing the total to 1,520,000 shares.
• The company reported $1.40 EPS for the last quarter, exceeding expectations, with revenue reaching $731.70 million, marking a 9.7% year-over-year increase.
• A quarterly dividend of $0.22 per share was recently announced, representing a 1.4% yield and a payout ratio of 10.68%.

Air Lease Corporation (NYSE:AL - Get Free Report) was the recipient of a significant decline in short interest in September. As of September 30th, there was short interest totaling 1,520,000 shares, a decline of 32.1% from the September 15th total of 2,240,000 shares. Based on an average trading volume of 1,750,000 shares, the short-interest ratio is currently 0.9 days. Currently, 1.5% of the company's shares are sold short. Currently, 1.5% of the company's shares are sold short. Based on an average trading volume of 1,750,000 shares, the short-interest ratio is currently 0.9 days.

Air Lease Stock Up 0.0%

Shares of NYSE AL traded up $0.01 during trading hours on Thursday, hitting $63.60. 1,969,625 shares of the stock were exchanged, compared to its average volume of 1,227,465. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. The company has a market cap of $7.11 billion, a PE ratio of 7.72, a PEG ratio of 0.66 and a beta of 1.37. The firm has a fifty day moving average price of $62.46 and a 200-day moving average price of $56.84. Air Lease has a 12 month low of $38.25 and a 12 month high of $64.30.

Air Lease (NYSE:AL - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The transportation company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.33 by $0.07. The firm had revenue of $731.70 million during the quarter, compared to analyst estimates of $723.35 million. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. Air Lease's revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.23 EPS. On average, sell-side analysts expect that Air Lease will post 5.16 EPS for the current year.

Air Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Wednesday, September 3rd. Air Lease's dividend payout ratio is currently 10.68%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AL. Weiss Ratings restated a "buy (b)" rating on shares of Air Lease in a report on Wednesday, October 8th. Cowen lowered shares of Air Lease from a "buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Barclays restated an "overweight" rating and issued a $67.00 price target (up previously from $56.00) on shares of Air Lease in a report on Thursday, July 10th. TD Cowen downgraded shares of Air Lease from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Air Lease from a "buy" rating to a "hold" rating and set a $65.00 price objective for the company. in a research note on Wednesday, September 3rd. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $60.29.

Insider Buying and Selling

In related news, EVP Grant A. Levy sold 5,000 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $63.57, for a total value of $317,850.00. Following the completion of the sale, the executive vice president owned 141,316 shares in the company, valued at approximately $8,983,458.12. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Beker sold 5,000 shares of the business's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $63.53, for a total value of $317,650.00. Following the completion of the sale, the executive vice president owned 13,970 shares of the company's stock, valued at $887,514.10. The trade was a 26.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock valued at $746,380 in the last quarter. 6.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in Air Lease by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,592,510 shares of the transportation company's stock valued at $318,479,000 after buying an additional 31,274 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Air Lease by 1.3% during the first quarter. Wellington Management Group LLP now owns 5,453,859 shares of the transportation company's stock valued at $263,476,000 after acquiring an additional 69,629 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Air Lease by 1.2% during the first quarter. JPMorgan Chase & Co. now owns 5,025,421 shares of the transportation company's stock valued at $242,778,000 after acquiring an additional 60,216 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Air Lease by 7.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,619,226 shares of the transportation company's stock valued at $211,797,000 after acquiring an additional 265,423 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Air Lease by 10.4% during the first quarter. American Century Companies Inc. now owns 3,563,297 shares of the transportation company's stock valued at $172,143,000 after acquiring an additional 336,376 shares in the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

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.

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