Air Lease Co. (NYSE:AL) Given Average Rating of “Buy” by Analysts

Shares of Air Lease Co. (NYSE:AL) have received an average recommendation of “Buy” from the five brokerages that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have covered the stock in the last year is $57.60.

AL has been the subject of several recent research reports. The Goldman Sachs Group restated a “buy” rating and issued a $65.00 price target on shares of Air Lease in a research note on Thursday, November 21st. JPMorgan Chase & Co. lifted their target price on Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Air Lease during the third quarter valued at approximately $872,000. American Century Companies Inc. increased its stake in shares of Air Lease by 5.0% in the 2nd quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company’s stock valued at $115,673,000 after purchasing an additional 115,293 shares during the last quarter. BCGM Wealth Management LLC acquired a new position in shares of Air Lease during the 3rd quarter worth $1,899,000. Public Sector Pension Investment Board lifted its position in shares of Air Lease by 7.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 227,921 shares of the transportation company’s stock worth $10,833,000 after buying an additional 16,281 shares during the last quarter. Finally, Hahn Capital Management LLC boosted its stake in Air Lease by 20.2% in the second quarter. Hahn Capital Management LLC now owns 131,470 shares of the transportation company’s stock valued at $6,249,000 after buying an additional 22,053 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Air Lease Trading Up 2.3 %

Shares of NYSE:AL opened at $48.57 on Monday. Air Lease has a 12-month low of $39.15 and a 12-month high of $52.31. The business has a 50 day moving average of $47.65 and a 200-day moving average of $46.33. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63. The stock has a market cap of $5.41 billion, a PE ratio of 11.06, a P/E/G ratio of 1.55 and a beta of 1.61.

Air Lease Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.88 dividend on an annualized basis and a yield of 1.81%. This is an increase from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s dividend payout ratio is currently 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.